See also: What is the importance of a CIBIL score? Also read all about SBI CIBIL score If the lender is satisfied, it provides the sanction letter, confirming that the loan has been approved. Banks also assess the creditworthiness of the borrower through credit bureaus and evaluate the value of the property used as collateral. The bank or the housing finance company (HFC) then conducts a verification of the documents and other financial details of the applicant. It starts after the borrower submits the loan application form along with the necessary documents. The approval of a home loan is a lengthy process. ![]() See also: Axis bank home loan status Home loan sanction letter: What is the process of home loan sanction? The base rate for interest calculation.Applicable interest rate (fixed or floating).The loan sanction letter includes vital details such as: It contains the terms and conditions based on which the loan will be provided. Can I cancel the home loan after approval?Ī sanction letter is a document that is provided by the bank or lending institution to a borrower, stating that the home loan has been approved.What is the validity of a home loan sanction letter?.What happens after you receive the loan sanction letter?.Documents required for the home loan sanction letter.Home loan sanction letter sample format.Importance of home loan sanction letter.How is a sanction letter different from in-principle approval and disbursement letter?.Home loan sanction letter: What is the process of home loan sanction?.
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