4 Points to Keep in Mind When Pre-Closing Your Home Loan - mymoneykarma (1)

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4 Points to Keep in Mind When Pre-Closing Your
Home Loan
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• Indians are very eager to pay our home loans
  because we need to take home when we buy our
  home. The countdown starts to complete Home Loan
  immediately after the lock-in period ends.
  Establish money from your own savings, provident
  fund, getting something from inheritance, putting
  the first idea in front of the payments so that
  the home loan will be shut down as soon as
  possible.
• However, when your home loan is in the forefront,
  it is best to keep the following 7 points at the
  bay at the bay and get the full mind

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1. Original Documents and Post-Dated Checks

• At the time of receiving a home loan, you may
  have to submit some asset papers in the bank,
  such as sale documents in the original, etc., so
  that once you have paid the loan, you should take
  all those original documents from the bank. Bank
  staff does not provide entertainment to customers
  later, so it is important to check all the
  documents that are there, check that they are in
  the correct shape and do not have an important
  document. If you are at the forefront of your
  home loan in all likelihood, your bank will have
  additional post-dated checks. Therefore, do not
  forget to collect them before closing.

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2. CIBIL (Credit Information Bureau India Ltd.)
score

• A high CIBIL score shows your credit goodness and
  that you are a good borrower so that you can get
  the next loan. However, the bank or lender is
  common to update your CIBIL score, it will be
  your responsibility and at the end of your home
  loan, the bank or lender will inform the CIBIL
  officers and ensure that your CIBIL score is
  updated.

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3. No Objection Certificate (NOC)

• The NOC is your property debt free and is an
  important certificate from your bank that a bank
  or lender is not interested in your property.
  Before you receive the certificate, you may be
  advised to the bank to include the loan-free
  property rule in the bank. In addition, when you
  receive a certificate specifically about your
  name, address, home loan account number, loan
  closure date etc.

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4. Get a Home Loan Statement

• Once you have paid premature closure and your
  property is debt-free, it is crucial for you to
  get a home loan statement, which will prove to
  you all the payments you have made with dates and
  sums.

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