Tips

Can I get home loan without Form 16 and ITR?

Can I get home loan without Form 16 and ITR?

Lenders who are only interested in verifying the applicant’s repayment capacity, accept Form No 16 as proof of one’s income and do not insist on your income tax return.

Does seafarers need to file ITR?

A Seafarer does not pay tax or file ITR anywhere in world. Hence, it is very important and beneficial for a Seafarer to file an ITR in India though it is not mandatory under the Income Tax Rules in India.

Can I get home loan without property documents?

You cannot get a home loan without the registration documents. The bank wouldn’t even accept your application form without the registration documents. Registration documents are one of the primary requirement to process a home loan. Banks do not give loans for unregistered properties.

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Can I get home loan without salary slip?

A home loan can be yours even without monthly salary slip.

Can u get a home loan without a job?

One way you might be able to qualify for a mortgage without a job is by having a mortgage co-signer, such as a parent or a spouse, who is employed or has a high net worth. Essentially, if you can’t make your mortgage payments, your co-signer will be on the hook for them.

Which ITR form is applicable for seafarers?

Seafarers NRIs have to choose Form 2 for ITR filing. Q.

Are seafarers exempted from income tax?

The salary of a resident seafarer or merchant navy personnel will be taxed as per the Indian Income Tax Law. There are no income tax exemptions for merchant mariners/ seafarers.

What are the documents required to get home loan?

List of Documents Required for Home Loan

  • Property Documents. Sales deed, stamped agreement of sale, or allotment letter. NOC from the housing society or builder.
  • Identity Proof. Aadhaar. PAN.
  • Address Proof. Any of the above identity proof document with the permanent address. Electricity bill.
  • Passport sized Photograph.
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How can I get a home loan with no job?

Getting a loan without employment is also possible when you have a good credit history, or you are able to on-board a guarantor or co-applicant with a good credit score. If you have made regular repayments on time without a single default, the lenders would be willing to lend you a secured loan with a guarantor.

Can I take home loan without job?

Traditionally, no matter, the type of loan you applied for, one of the critical requirements that the lenders considered is your job as it assures the lenders that you have the income to repay the borrowed amount. Today, however, many lenders in India offer personal loans even if you don’t have a stable job.

How do I use the BPI seafarer loan calculator?

The BPI Seafarer Loan calculator computes the estimated cost of borrowing and amount of payment per instalment. Input the desired loan amount to automatically get the estimated monthly amortization for different tenors.

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What are the best personal loans for sea-based OFWs?

A top option comes to mind, BPI Seafarer Personal Loan. As a product from one of the largest, most reputable financial providers in the country, the BPI Seafarer loan is a reliable and proven solution for sea-based OFWs to get access to additional funding for any immediate need or emergency.

How much can you borrow as an overseas Filipino worker?

Specifically for sea-based overseas Filipino workers, you can borrow from as low as ₱20,000 up to ₱300,000 at 1.5\% monthly add-on interest rate. Loan repayment starts from 5 months up to 9 months, while the loan approval process ranges from 5 to 7 banking days.

How long does it take to get an OFW loan in Philippines?

Loan repayment starts from 5 months up to 9 months, while the loan approval process ranges from 5 to 7 banking days. To avail of this loan, you must have a minimum gross income of ₱30,000 per month and have the supporting documentation proving that you are a sea-based OFW. Specifically catering to the needs of sea-based OFWs.