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Housing finance companies increased share of mortgages last year – house financing

Posted on 29 November 2010

house financing – Housing finance companies increased share of mortgages last year

Housing finance companies increased share of mortgages last year

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Home Page > Business > Small Business > Housing finance companies increased share of mortgages last year

Housing finance companies increased share of mortgages last year

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Posted: Jun 30, 2010 |Comments: 0

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Housing finance companies increased share of mortgages last year

By: Abhinav kumar

About the Author

Hi,

I am Abhinav Kumar.

I am working in Bhardwaj Buildtech Pvt.Ltd. Company as SEO.

http://www.zameen-zaidad.com/

http://www.propertycafeteria.com/

(ArticlesBase SC #2749582)

Article Source: http://www.articlesbase.com/ – Housing finance companies increased share of mortgages last year

Housing finance companies (HFCs) grew their mortgage portfolios at a faster rate than banks in the year up to March 31, thereby increasing their market share to 31 per cent, according to a study by Icra.

According to its estimates, the total housing credit outstanding in India as on March 31 was Rs 4,31,300 crore, as on March 31,2009, growth of 13 per cent.

The housing loan portfolios of HFCs as a whole reported a growth of 31 per cent during 2009-10, higher than the 10 per cent growth reported by commercial banks. With that, the share of HFCs in the mortgage market increased to 31 per cent as on March 31, from 29 per cent as on March 31, 2009.

Vibha Batra, Senior Vice President and Co-Head, Financial, Sector Ratings, said, “HFCs continue to maintain superior asset quality vis-à-vis public sector banks (PSBs). The top five PSBs had a gross non-performing (NPA) percentage of 2.6 per cent in their housing finance book a on March 31, against which HFCs had 0.9 per cent. Credit provisions were low for HFCs at 0.07 per cent of average advances during 2009-10.”

HDFC, State Bank of India (SBI), ICICI Bank and LIC Housing Finance (LIC HFL) dominate the domestic mortgage, together accounting for 55 per cent of the total housing credit in India as of March 31, the report said.

Credit growth in the Indian mortgage finance market improved to 13 per cent in 2009-10 from 10 per cent in the previous financial year. This was party on the strength of an improved operating environment and expectations of appreciation in property prices and partly on account of the attractive interest rate schemes offered by both banks and HFCs. The “8 per cent home loan scheme” that was initially launched by State Bank of India in August 2009 to benefit home buyers during the festive season forced other lenders to launch similar products. While most withdrew the scheme by March some large players have extended it to June.

Courtesy by BS dtd: June 17, 2010

For more information about real estate, real estate india, Indian real estate, property, property in india, Indian property, property for rent, rented property, apartment for rent, rented apartment, flats for rent, rented flats in delhi, property for sale in delhi, apartments for sale in delhi, flats for sale in delhi homes for sale in noida, flats for sale in noida, real estate in noida, investment option in noida, real estate consultant in noida, realty firm houses in noida, residence in noida, residence in delhi, residence in gurgaon, flats for rent in gurgaon Log in to http://www.zameen-zaidad.com/ And http://www.propertycafeteria.com

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Abhinav kumar -
About the Author:

Hi,

I am Abhinav Kumar.

I am working in Bhardwaj Buildtech Pvt.Ltd. Company as SEO.

http://www.zameen-zaidad.com/

http://www.propertycafeteria.com/

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Tags: Assistance, Austin, Corporation, Counseling, Down, Finance, Financing, house, housing, Payment

Counseling and Down Payment Assistance with the Austin Housing Finance Corporation – house financing

Posted on 28 November 2010

house financing – Counseling and Down Payment Assistance with the Austin Housing Finance Corporation

Counseling and Down Payment Assistance with the Austin Housing Finance Corporation

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Home Page > Finance > Real Estate > Counseling and Down Payment Assistance with the Austin Housing Finance Corporation

Counseling and Down Payment Assistance with the Austin Housing Finance Corporation

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Posted: Nov 02, 2009 |Comments: 0

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Counseling and Down Payment Assistance with the Austin Housing Finance Corporation

By: Joe Cline

About the Author

Joe Cline writes articles for Rollingwood real estate. Other articles written by the author related to Austin real estate blog and Lakeway real estate can be found on the net.

(ArticlesBase SC #1410588)

Article Source: http://www.articlesbase.com/ – Counseling and Down Payment Assistance with the Austin Housing Finance Corporation

If youâ??re a first time homebuyer in Austin, Texas, there are quite a few resources available to you. Buying a home for the first time is very exciting but it can also be a time of confusion and stress. Making a large investment like a home purchase requires a lot of paperwork, approval processes and financial commitments. Fortunately, there are many programs and resources available to help you navigate this uncertain time.

Many first time homebuyers make the mistake of underestimating how much it will cost to purchase their new home. They assume that the financing process will take care of everything and they wonâ??t have to pay a penny out of pocket in order to get into their home. There are real estate agent fees, down payments and closing costs that will be associated with buying a home.

With a first time home buyer grant, you can get help with these costs as part of the services sponsored by the Austin Housing Finance Corporation, which is a division of the Austin city government. The down payment assistance program (DPA) will help with purchasing a home by granting a specific amount of money to be used as a down payment for a home.

The standard DPA is up to ,000 in a deferred, forgivable 0% interest loan that has a length of 10 years. The loan is completely forgiven if you stay in the home for 10 years without transferring the title. If you move before the 10 years are up, the loan will be paid back from the sale of your home.

The DPA program is only accessible to people who have completed a series of three classes at the Austin Housing Finance Corporation. The three class series is a part of the nationally recognized NeighborWorks â??Keeping the American Dreamâ? homebuyer education course. In order to access the DPA program and other first time home buyer services you have to attend the following:
-Class 1: Assessing Your Readiness to Buy and Money Management
-Class 2: Understanding Credit and Financing a Home
-Class 3: Selecting and Maintaining a Home and Managing Your Finances

These three classes compose a pre-purchase series that is available to people who live in the city limits of Austin, who earn 80% or less of the areaâ??s median family income, who are employed and who have a Texas driverâ??s license.Â After completing the three classes, youâ??ll be awarded a certificate which will gain you access to the DPA as well as many Travis County and State of Texas programs.

In addition to the pre-purchase classes, the Austin Housing Finance Corporations also offer post-purchase classes which are important if you find yourself in a position where you might lose your home. The course is similar to the pre-purchase classes and acts as a refresher on the basics of home ownership, particularly focusing on the financial commitments associated with owning a home. The requirements for the post-purchase classes are the same with regards to family income and location.

The details on these resources and more first time homebuyer programs are available on the Austin Housing Finance Corporationâ??s official website.

Retrieved from “http://www.articlesbase.com/real-estate-articles/counseling-and-down-payment-assistance-with-the-austin-housing-finance-corporation-1410588.html”

(ArticlesBase SC #1410588)

Joe Cline -
About the Author:

Joe Cline writes articles for Rollingwood real estate. Other articles written by the author related to Austin real estate blog and Lakeway real estate can be found on the net.

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Tags: Balance, Finance, Financing, house, housing, Transfer

Balance Transfer and Housing Finance – house financing

Posted on 22 November 2010

house financing – Balance Transfer and Housing Finance

Balance Transfer and Housing Finance

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Home Page > Finance > Loans > Balance Transfer and Housing Finance

Balance Transfer and Housing Finance

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Posted: Jul 18, 2008 |Comments: 0
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Balance Transfer and Housing Finance

By: Addi

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For more information about home loans and loans against home. Please visit our website: http://www.paisawaisa.com/

(ArticlesBase SC #488924)

Article Source: http://www.articlesbase.com/ – Balance Transfer and Housing Finance

The Indian immovable property has come of ages. Consumer is the King now and gone are the days of monopolistic behaviour. And definitely, if you are the one with sound financial background and impeccable credit record you can strike a better deal with the banks in terms of interest rates and other payment conditions and purchase your dream property without any hassle.

Interestingly, the same criteria is equally applicable on those, as well, who have already availed a loan from a bank. Near about all the major public and private sector banks in the Indian banking system are now offering the option of ‘Balance Transfer’ on housing finance. Often, banks in the housing finance sector tend to increase the interest rates when the benchmark interest rates increase. But, such alacrity is not shown by them in decreasing rates whether the Repo rate comes down or not. In such circumstances, balance transfer help the customer a lot. He can replace the higher rate loan and avail a lower rate one by paying some extra charges. These charges are lower compared to the total payable interest.

What is Balance Transfer and how is it relevant in the housing finance?

There are times you find that the interest rate on your home loan is at a higher level. Take an example. Suppose you were paying at the rate of 10.5 per cent per annum. This rate is quite high in comparison of 9 per cent offered by some other bank. In such cases balance transfer of housing finance comes into rescue. You can trigger off the balance transfer option with your existing bank or lending institution, under which the unpaid portion of your housing finance would get transferred to your desired bank, thereby taking benefit of the difference in the housing loan interest rate.

Things to take care of at the time of balance transfer:

Tenure of loan amount should be taken care: Ideally, you should consider taking the balance transfer option when the remaining part of your payment period is more than 5-years and in such a case you have the time for speculative gains. There is no profit in transferring the home loan from one bank to another if you end up paying early payment penalty and other processing charges even more than the difference of housing loan interest rate and the amount you had to pay towards interest in the normal condition.

Early Payment Charges associated with the housing finance scheme: Banks like State Bank of India, IDBI and ICICI offer benefits like exemption of the early payment charges to your existing bank if you transfer the balance. So you must confirm the same with the new lending institution that are they ready to deal with this matter. Otherwise, the deal is not profitable.

Additional charges involved with the loan amount: You must confirm that the desired amount for your home purchase loan is perfectly at par with the balance you had in your previous bank. It may be the case that that your new bank pays all early payment penalties and processing charges on your behalf and later add the amount to the principal of your housing loan. So, in such case your total owing remain the same and the transfer is not profitable. In this situation, you have to suffer the impact of debt compounding, which does not favour you in the long run.

Seeking balance transfer as a burden reduction option needs the similar degree of caution and study that you undertake while taking housing finance. Definitely with balance transfer, you can save a considerable amount of interest charges under this option once you strike the right chord!

Retrieved from “http://www.articlesbase.com/loans-articles/balance-transfer-and-housing-finance-488924.html”

(ArticlesBase SC #488924)

Addi -
About the Author:

For more information about home loans and loans against home. Please visit our website: http://www.paisawaisa.com/

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Tags: Finance, Financing, FIRST, house, housing, Means, Property, Timers

Housing Finance : First Timers Means to Buy a Property – house financing

Posted on 05 November 2010

house financing – Housing Finance : First Timers Means to Buy a Property

Banks and Financial institutions have come up in a big way to help people buy houses or own property. They guarantee people to fulfill their promises and provide low interest rates and flexibility to pay off the interests. Even a first time aspirant who wants to own a property is guided by various programmes of the finance companies. Government too has various offers to help people buy properties.

In several countries, the local government and municipality take the responsibility to help out people who are first-time purchasers. Such bodies sometimes also offer incentives to the aspirant of housing finance. The incentives may be in the form of grants-free money and down payment backing. Some governments also provide reduced interest rates to the first time buyers that is in conjunction with other finance companies. Then there are also finance companies that present comfortable lending standards and low housing loan interest rate.

Most of the housing companies nowadays hold seminars, to aquaint people of the pros and cons of home ownerships. One should really attend to such seminars as this provides an opportunity to remain aware about the nitty-gritty of buying a property. There are people who faced dire situations as they were unaware about the rules and regulations of owning a house. So, attending to the seminars organised by the finance companies helps people know the criteria of the buyers especially for those who are first timers. One can also check with their country’s housing division where one can find the full details about the guidelines that qualify one to own a property.

To avail the best housing loan interest rate one can order for a ‘tri-merge’ details of credit. The tri-merge makes it necessary for one to submit a single statement regarding information about one’s three main credit reporting bureau. These bureaus are Trans unions, Equifax and experience. The details of the tri-merge also ensure that one encloses the acknowledgment scores from all the three bureaus. This really helps one to buy houses. Moreover, when it comes to finance lending by financial organisations, it is one’s credit score that determines almost everything. From the credit scores, the user knows how much amount to borrow, what certification is to be presented to the lender, what would be the notice rate and how much money has to be reimbursed upfront.

It is absolutely necessary for people who are first time buyers of a house that they do not feel alone in the entire process. The financial institutions ensure that they are not alone. Moreover, every information on one’s credit statement ensures that the person has an extra point when it comes to borrowing loans. Moreover, one can also adopt various techniques in order to improve upon the credit score. There are also certain methods that help to boost one’s score overnight. Whatever may be the methods, one should focus on raising one’s scores. By doing so, one can take the benefits of big offers that come one’s way. Once the borrower of loans outlines the resources, it becomes very simple to approach for the best financial organisations in order to avail the best offers.

Housing is a key sector where people are provided with a number of options. Financial organisations find this to be a booming sector and offer housing finance loans to aspirants. It is thus necessary for everyone to depend on them for housing loans as they are reliable. On attending the seminars conducted by these organisations, one gets a glimpse of what takes to buying and maintaining a property. Loans are a great means to buy property for those who just dream of possessing one.

For more information about home loans and personal loans. Please visit our website: http://www.paisawaisa.com/

Posted in Financing a homeComments (0)

Tags: banks, Companies, Finance, Financing, Hfcs, Home, house, housing, Loans, Offered

Home Loans Are Offered By The Housing Finance Companies (Hfcs) And Banks – house financing

Posted on 04 November 2010

house financing – Home Loans Are Offered By The Housing Finance Companies (Hfcs) And Banks

Home loans are offered by the Housing Finance Companies (HFCs) and banks. These HFC’s/bank’s offers home loan for buying a house either from the developer – built, un-built or under construction or from a second owner or for the improvement and renovation of the existing building structure.
With so many private and public sector banks, as well as HFC’s willing to lend a helping hand through home loans, for consumers the wide choices available in home loan market has resulted in state of confusion. It has become extremely difficult for a consumer to strike the best home loan deal.

In order to apply for a home loan and avail the same, certain factors like eligibility criteria, documentation required etc. has to be considered, and of course one must know about some Home Loan Tips before applying for Home Loan. The important home loan tips includes eligibility, amount of home loan, types of interest, tenure of interest, the documents required, rate of interest for home loan, and even disbursal of home loans.

At present private banks like Axis Bank is offering Home loans at 14% fixed and 8.75-9.25% floating. On the other hand public sector banks like SBI is offering home loan at 8% fixed for first year and thereafter floating at 8.25%. Among HFC’s, DHFL is offering home loans at 8.25% to 8.75%. These interest rates are at present prevailing in the home loan market. For consumers, one has to make the choice of interest rates best suited for him as the interest rate along with principal amount decides the EMI for the home loan.

There are also other factors which need to be considered while taking a home loan. These factors can ultimately decide whether you save or shell out on those extra bucks while taking a home loan. These factors/charges include processing fees, prepayment charges, part payment charges, switching charges etc. Home Loan borrowers have to be completely aware of these set of charges put forward by lender. To have complete knowledge about these charges it is important for a consumer to go through home loan documents carefully before finalizing the home loan deal. The borrower borrowing home loans can visit any of bank’s branches or their respective websites to have more information on home loans. Apart from this there are several finance related websites, which too can prove useful while borrowing home loans.

To know more information on Rupeetalk and home Loans feel free to visit : http://www.rupeetalk.com/home-loan-india <!– google_ad_section_end –>

Ansh has been writing articles online for more than 3 years now. His specialty is in loan, finance and internet marketing. I write about things that matter to the business financial like loan, Personal loan, and health insurance! I focus on saving people money and writing on affordable niches. Website: http://www.rupeetalk.com

Tag Archive | "housing"

Tags: Companies, Finance, Financing, house, housing, increased, last, Mortgages, share, Year

Housing finance companies increased share of mortgages last year – house financing

Posted on 29 November 2010

Posted in Financing a homeComments (0)

Tags: Assistance, Austin, Corporation, Counseling, Down, Finance, Financing, house, housing, Payment

Counseling and Down Payment Assistance with the Austin Housing Finance Corporation – house financing

Posted on 28 November 2010

Posted in Financing a homeComments (0)

Tags: Balance, Finance, Financing, house, housing, Transfer

Balance Transfer and Housing Finance – house financing

Posted on 22 November 2010

Posted in Financing a homeComments (0)

Tags: Finance, Financing, FIRST, house, housing, Means, Property, Timers

Housing Finance : First Timers Means to Buy a Property – house financing

Posted on 05 November 2010

Posted in Financing a homeComments (0)

Tags: banks, Companies, Finance, Financing, Hfcs, Home, house, housing, Loans, Offered

Home Loans Are Offered By The Housing Finance Companies (Hfcs) And Banks – house financing

Posted on 04 November 2010

Posted in Financing a homeComments (0)

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Tag Archive | "housing"

Tags: Companies, Finance, Financing, house, housing, increased, last, Mortgages, share, Year

Housing finance companies increased share of mortgages last year – house financing

Posted on 29 November 2010

Posted in Financing a homeComments (0)

Tags: Assistance, Austin, Corporation, Counseling, Down, Finance, Financing, house, housing, Payment

Counseling and Down Payment Assistance with the Austin Housing Finance Corporation – house financing

Posted on 28 November 2010

Posted in Financing a homeComments (0)

Tags: Balance, Finance, Financing, house, housing, Transfer

Balance Transfer and Housing Finance – house financing

Posted on 22 November 2010

Posted in Financing a homeComments (0)

Tags: Finance, Financing, FIRST, house, housing, Means, Property, Timers

Housing Finance : First Timers Means to Buy a Property – house financing

Posted on 05 November 2010

Posted in Financing a homeComments (0)

Tags: banks, Companies, Finance, Financing, Hfcs, Home, house, housing, Loans, Offered

Home Loans Are Offered By The Housing Finance Companies (Hfcs) And Banks – house financing

Posted on 04 November 2010

Posted in Financing a homeComments (0)

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