Certificate Loan Agreement: Fill & Download for Free

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.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 process: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.Step 4 - Personal discussion: Application scrutiny and verification is the next step, which includes a personal discussion or PD, wherein the lender will evaluate your application and ascertain your repayment capacity.Step 5 - Credit appraisal: At the lender’s end, there comes the loan underwriting process, which will determine the exact terms and conditions of your loan, including the loan amount being sanctioned, the rate of interest etc.Step 6 - Offer letter issuance: The lender will now issue you an offer letter, which mentions the following details –Amount sanctionedRate of interestLoan tenureOther terms and conditionsStep 7 - Legal and Valuation check: An important stage in the process is that of property valuation and verification, which requires you as the borrower to submit original documentation such as title search documents, no objection certificate etc. for the lender to verify. Legal checks on the property are also undertaken.Step 8 - Document registration: This involves registering the documents post the legal and valuation check.Step 9 - Signing of loan agreements and submission of post-dated cheques: The loan agreement is to be signed, and post-dated cheques are required to be submitted as per the loan agreements.Step 10 - Loan disbursement: Finally, upon completion of all documentation and related formalities, the loan is disbursed, as per the conditions mentioned in the loan agreement either upfront or in tranches (for an under construction property), as per requirement.Watch out for:It is entirely possible that your application is rejected at the first instance, which can be due to non-fulfilment of eligibility criteria or on account of incomplete documentation. Make sure your application is complete and accurate in all respects.With most lenders, processing fees are non-refundable, so ensure you do check prior to application.The loan amount sanctioned being lower than the one you had applied for.Make sure you know the interest rate that you are signing up at, and whether it is fixed or floating.

The following is merely educated speculation (I do not know whether anyone can provide a definitive answer):My sense is that full justification has existed, and in many instances continues to exist, to instill in the reader a sense of formality. This strikes me as especially true in financially-oriented documents - securities offerings, share certificates, promissory notes, loan agreements, etc.I have read, and I believe, that left justification makes text easier to read, so that is what I use in many documents that I prepare.Subsequent addition: The Wikipedia entry at http://en.wikipedia.org/wiki/Justification_%28typesetting%29#History discusses the history of text justification (generally, not legal-specific).

“Everyone around told me to major in what I love. I choose a double major in women's and gender studies with a minor in ethnic studies from an out of state private college. Now I am in over $100 k debt. How do I recover and get a job in my field?”Wow, that’s an awful predicament. My sympathies. You were given terrible advice. I don’t suppose “everyone around” would take up a collection to pay off your debts? Didn’t think so.I’m sure you have explored the professional job market for your degrees? Some companies have diversity officers, or diversity specialists within Human Resources. Will your college job placement office still help you? I assume that teaching those subjects in college would require a PhD, but is that true? Adjunct lecturer doesn’t pay as much as professor, but it might pay more than barrista.If you can discharge any of those debts in bankruptcy, that might be something to consider. If your debt is to the government, have you looked into debt forgiveness programs? Otherwise, you are going to have to pay them off. You are going to have to live like a poor college student until those debts are paid off. Can you live with relatives? Try to get your interest rate as low as you can get it, possibly with refinancing. Otherwise try to pay off the highest-interest debt first. Read your loan agreements carefully, do your best to avoid late fees and penalties.You can get your income up by upgrading your marketable skills. Consider apprenticing in a skilled trade. Consider community college for a marketable certificate or associates degree (I know, more money to spend, but with a much better return on investment). Consider taking civil service exams - your degrees might be worth something to a government even if they aren’t worth much in the private sector. Is there a family business that you could get involved with?Large debts without marketable skills is a hardship, but it is not the end of your life. People have overcome much steeper obstacles. Read widely, ask advice widely, form a realistic plan, execute, persevere.Best wishes!