Home Loans Home loans, or mortgages, use the borrower's home as collateral. This home can be a single-family home with up to four residential units, as well as a condominium or cooperative unit. Lenders finance the home loan, but both the lender itself and the intermediaries who act on behalf of the lenders are originating. The most common purpose of a home equity loan is to provide the funds a buyer needs to purchase a home. Home equity loans allow a homeowner to borrow against the difference between the value of the home and the current loan balance, or equity. Investor loans allow buyers to purchase homes as rental properties or fix them up and sell them at a profit. Types The two most used types of home loans are fixed rate loans and variable rate loans. A fixed rate loan maintains the same interest rate throughout the loan tenure, which means the monthly EMI principal and interest payment remains the same. Adjustable rate mortgages start with a lower interest rate for the first few years and then change based on market conditions once the initial period ends. Limits are set on how the interest rate can change at any given time and how the rate can increase over the life of the loan. This means that the principal and interest amount of your monthly payments changes repeatedly over the course of the loan. Based on loan characteristics (interest rates and other charges), eligibility criteria and services provide the following case study of major players for home loans: State Bank of India IS “THE HOME LOAN PROVIDER MOST PREFERRED HOME" voted at AWAAZ Consumer Awards along with "MOST PREFERRED BANK AWARD" in the survey conducted by Network 18 in association with AC Nielsen-ORG Marg in various cities of India.SBI Home Loans comes to the market on solid foundations of trust and transparency......half of paper......Quality criteria: Home loanSalariedSelfAgeMinimum 21 yearsMinimum 21 yearsSalaryInformation not availableInformation not availableWork experienceInformation not availableInformation not availableProof of residenceValid proof of residenceValid proof of residenceDocuments requiredObtaining a Home loan is comparatively easier now a days. On the other hand, there are eligibility criteria that must be met. The loan amount granted by the financial institution depends on factors such as salary, age, qualifications, work experience, number of dependents, spouse's salary, stability of salary and employment, assets, liabilities, etc. To get any home loan, some relevant documents are required to support the deal. Self-employed workers and employees require different documents to support the agreement. References http://www.sbi.co.in/ http://www.pnbindia.in/taaza.com