Why an NRI sometimes needs a non certified loan lender ?

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NRI’s Why borrow from certified home loan lenders?  Everything is on paper. There is a certain way to apply, avail and get your home loan approved as an NRI. The repayment tenure plan programme is fixed on paper, and there is also a backup plan in case of your failure or delay to repay the EMI on desired time limit. The official call from agents about loans repayments, communication from their sides, status of your home loan and remaining amounts is what makes this a good choice for those who love discipline, have their documents in place, and need hassle free home loans. With a wide range of loans offered by reputed banks and certified finance companies for NRI’s you can get maximum loan amount to purchase home or property. Then there is also good communication from both sides regarding the status of your home loan as most reputed banks and finance companies have their branches around the globe.

Home Loans Simplified Facts

Still at times some NRI’s, need non certified home loan lenders also and the need is increasing , especially for private businesses and professionals who are making it on their own. As no questions are asked, only a brief history and assets are brushed up (your repayment capacity)  and you are offered home loan, without any hassles and that too in less time. The only risk comes when you are unable to repay the EMI or home loan on time then there may be ways these non certified agents recover their loan amount, which may or may not be such a good one. Also you will not have any records about the loan taken and repaid and most work is carried out with trust and reputation of non certified home loan lenders. Advantage here is also that you will get a larger amount, exceeding limits of your present situation, as loans as compared to certified finance companies.
It is understood that when you borrow from a non certified agent you get the home loan on much higher rate of interest. The tenure for repayment usually is also for a limited period of time , so the EMI amounts come to a much larger amount every month or may be in lump sum amounts every few months.
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