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Home Loan Processing Fees at Summer Shelters
At Summer Shelters, we have good news for you! We don’t charge any processing fees for your home loan. We have partnered with banks that don’t charge processing fees, but there’s one condition: the loan amount should be 50 lakhs or more. We want to be transparent with you, so you can rest assured that no hidden charges are involved.
What is home loan processing fees?
When you want to borrow money from Banks or NBFC to buy a house, they charge you something called “home loan processing fees.” These fees are like the cost of doing paperwork and checking if you’re eligible for the loan. The bank needs to make sure you’re trustworthy and that the house is worth the money they’re lending you. So, they charge these fees to cover their expenses in doing all these things.
The fees can be a certain percentage of the loan amount or a fixed amount. Different banks may charge different fees, so it’s important to compare before choosing a bank.
Remember that these fees are paid only once when you apply for the loan. They are separate from the interest that you will have to pay on the loan. So, when you’re looking for a home loan, it’s a good idea to consider the processing fees along with other things like the interest rate and how you will pay back the loan.
Is Home Loan processisng fees Refundable?
Home loan processing fees are generally non-refundable. Once you pay the processing fees to the bank or financial institution, they are considered as payment for the administrative costs incurred during the loan application process. These fees cover expenses such as evaluating your loan request, verifying your details, conducting a credit check, and assessing the property.
Even if your loan application is not approved or if you decide to cancel the loan application before it is processed, the processing fees are typically non-refundable. This is because the financial institution has already incurred costs in reviewing your application and conducting the necessary checks
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- +91 9769500907
- info@summershelters.com
- Matoshree Sadan CHS,Shop No 9,Sector 19c, Koparkhairane,Navi Mumbai,Maharashtra,India-400709