Types of home loans available: 
– Home purchase loan: For buying a new or resale home, covering up to 80-90% of the property’s value.
– Home construction loan: For constructing a new home, disbursed in instalments based on construction progress.
– Home improvement loan: For renovating or improving homes, covering repair and improvement costs.
– Plot purchase loan: For buying a plot and building a new home, disbursed based on construction progress.
– Home extension loan: For extending homes, disbursed based on construction progress.

Eligibility criteria for home loans:
– Age: 21 to 65 years.
– Income: Determines loan amount and eligibility.
– Credit score: Above 750 is preferred.
– Employment status: Stable job or income source.
– Property ownership: Clear title to the property.

Applying for a home loan:
– Research: Compare lenders and terms.
– Eligibility: Check income, credit score, and age.
– Documentation: Gather required documents.
– Application: Fill out form online or at a branch.
– Property evaluation: Lender assesses property.
– Loan approval: Receive offer letter and disbursement.

Documentation required for a home loan:
– Identity proof
– Address proof
– Income proof
– Property-related documents
– Employment proof

Tips to increase chances of loan approval:
– Maintain a good credit score.
– Choose the right lender.
– Provide all required documents accurately and on time.
– Apply with a co-borrower.
– Make a higher down payment.
– Choose the right loan amount and tenure.

Interest rates and fees:
Interest rates vary by lender and may include processing, prepayment, and foreclosure fees.

– Not getting pre-approved for a mortgage: Failure to obtain pre-approval before house hunting can lead to disappointment and wasted time. – Not shopping around for a lower interest rate: Failing to compare rates from different lenders may result in higher monthly payments. – Failing to check credit scores in advance: Knowing your credit score helps you understand your borrowing potential and identify any errors. – Opening new credit cards or other loans before/during the mortgage process: New debts can negatively impact your debt-to-income ratio and affect loan approval. – Making late mortgage payments or worse, filing foreclosure/BK: Payment history significantly influences creditworthiness and can affect future borrowing options. – Not saving enough for a down payment and closing costs: Inadequate savings can limit your ability to secure favorable loan terms and cover upfront expenses. – Not seasoning assets beforehand in a verifiable bank account: Lenders require a history of funds to ensure stability and reliability of assets used for down payment and closing costs. – Applying with limited or inconsistent employment history: Stable employment demonstrates financial stability and repayment ability, increasing your chances of loan approval. – Changing jobs prior to or during loan process: Job changes can disrupt income verification and raise concerns about repayment ability. – Forgetting to lock your mortgage rate: Failing to lock in your interest rate exposes you to market fluctuations, potentially resulting in higher monthly payments. – Lying to the bank or lender: Providing false information during the application process is fraudulent and can lead to severe consequences, including loan denial and legal action.

Types of Secured Loans: 

1. Secured Loans: Loans provided against collateral, reducing lender risk.
2. Unsecured Loans: Loans granted based on income and credit history, without collateral.
3. Home Loans: Secured loans for purchasing or constructing homes, offering lower interest rates.
4. Gold Loans: Loans secured against gold possessions, with interest starting from 7.50% per annum.
5. Vehicle Loans: Secured loans for purchasing vehicles, with interest rates around 7% per annum.
6. Loan Against Property: Mortgage loans utilizing residential or commercial property, with interest starting from 8% per annum.
7. Loan Against Securities: Loans against shares and securities, with an LTV of 50% and interest rates varying.
8. Title Loans: Loans against vehicle collateral, with interest rates around 25% per month.
9. Non-recourse Loans: Secured loans where the lender can’t proceed against the borrower if the collateral doesn’t cover the debt.
10. Loan Against Fixed Deposits: Loans against fixed deposits with an LTV of 60%-75%, offering lower interest rates.
11. Loan Against Insurance: Loans against life insurance policies, with an LTV of 85%-90% and interest rates starting from 10% per annum.
12. Working Capital Loans: Loans aiding businesses’ working capital needs, secured against stock and debtors.

Types of Unsecured Loans:

1. Personal Loans: Loans based on income and credit score, with interest rates ranging from 8% to 10% per annum.
2. Short-term Business Loans: Loans assisting businesses in financial crises, with interest rates between 12% and 18% per annum.
3. Education Loans: Loans for educational expenses, starting from 8.85% per annum.
4. Credit Cards: Unsecured spending tools with high-interest rates, affecting the borrower’s credit score.