seifac loan shortlisted portal 2023 check pdf list

Buying your dream home is not just an exciting prospect; it is also a fairly extensive project that requires you to do your homework in order to get yourself a good deal out there. Let’s break down the process and understand the steps that will simplify it to help you make the best decision.

What you need to do:

Prior to loan application, here’s your checklist of things to do –

Narrow down the property you would want to purchase, and know the purchase price (including registration and stamp duty charges). In case of a resale property, check documentation, especially title documentation. Once you and the seller have agreed on a price, you can kick start the application process.

Know that you can also apply for a loan sanction letter, even if you have not finalised any property at the time of application. Each sanction letter carries a validity period (that may differ from lender to lender), so make sure you keep track of the same.

Identify the home loan provider you would wish to apply to. This can be done online, by evaluating various banks, housing finance companies and NBFCs. seifac loan shortlisted portal 2023 check pdf list

It is prudent to start putting together the documentation, basis the checklist provided on the lender’s website. Sometimes, this can be a time-consuming process, owing to the nature of documentation (especially if a resale property). Standard documentation includes personal documentation such as the applicant’s identity and address proof, income documents (whether salaried or self-employed, this is mandatory for a lender to gauge your repayment capacity), age proof, bank statements and property documentation (if you have finalised the property).

The home loan [ https://nedunews.com.ng/seifac-loan-shortlisted-portal-2023-check-pdf-list

Step 1 – Application form submission: Make your application, either personally at a branch or online. If online, allow for a representative to get in touch with you, to take the process further.

Step 2 – Payment of processing fees: Typically between 0.25 percent and 0.50 percent of the loan amount, these need to be paid at the time of loan application. Some lenders do reduce the fee amount or even waive it entirely, so do check with your lender prior to paying up.

Step 3 – Field verification: Lenders verify the borrower’s personal information, including conducting a residence and employment check.

What are Seifac loan application process?