Insights

Home loan: what to arrange first

What to arrange before you pay a booking amount, so the loan sanction is not what delays your purchase.

The most common avoidable delay in a purchase is a home loan that starts only after the booking amount is paid.

Do this first

• Get an in-principle eligibility assessment from at least two lenders. Eligibility varies more than people expect.
• Check your credit report and fix errors — that alone can take weeks.
• Keep income documents, bank statements, identity and address proof in one folder, ready to send.
• If you are self-employed, expect a longer assessment and more documentation.

Understand the real cost

Compare the effective rate, processing fee, prepayment terms and whether the rate is fixed or floating. A quarter of a percent across twenty years is a large number.

Confirm the project is fundable

Lenders maintain approved project lists. A project not on your preferred lender's list is not necessarily a bad project, but it changes your options. Check before you commit, not after.

We coordinate this alongside the property search so the two finish together.

This is general guidance, not legal or financial advice. Verify project details and MahaRERA registration independently before you book.