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Minimum Documents Required for Home Loan

For the vast majority of Indians, purchasing a home is likely to be one of life’s most significant accomplishments. Finding the ideal property and then acquiring an appropriate home loan are both crucial. Home loans are taken out for a variety of reasons, not just a lack of finances. There are various additional benefits to receiving a house loan. When applying for a home loan, all banks and housing finance companies require the same documents (HFCs). However, depending on your home loan type, individual credit profile, and so on, some specific criteria may apply. We’ve put together a list of some of the most critical home loan documents you’ll need to submit during the loan application process.

Understanding Home Loan
A home loan is a sum of money borrowed from a financial institution such as a bank or a lending company. You pay an EMI every month to repay the loan. The lender regards the property as security. If the borrower cannot repay the loan, the lending company has the legal right to collect the loan amount.

Types of Home Loans
A house loan is much more than just a way to finance the purchase of a new home. There are various types of home loans:

Loan for the Purchase of a Home
Loan for Home Improvements
Loan for Purchasing Land
Loan for a Joint Residence
Home Loan Transfer of Funds
Loan for Home Improvements
Benefits of a Home Loan
When you take out a home loan, you are effectively developing an asset, as opposed to other loans that may be considered liabilities. In most cases, the value of this asset will only increase with time. This makes obtaining a house loan more enticing.

You can obtain your ideal home.

A house loan has the potential to make your dream a reality. It lowers the cost of purchasing a home.

Repay according to your financial situation.

Home loans are extremely versatile. You can choose a repayment term of up to 30 years, allowing you to make monthly payments that are well within your means. You can choose an EMI and pay off the loan based on your financial situation.

Tax Advantages

You can save a lot of money with a home loan, which is often regarded as the most effective tax-saving instrument. Sections 24, 80C, and 80EEA of the Income Tax Act allow you to deduct up to INR 5 lakhs in taxes.

Asset Development

Your home is an asset that can deliver the highest return on investment. Unlike an automobile, the value of this item will not decrease due to depreciation.

Simple Procedures

From the loan application to the payment travel, the procedures at Home First Finance are easy and transparent. Our dedicated customer care team is always available to you.

Home Loan What are the documents needed for a home loan?
Though completing a loan application may appear to be a difficult task, if you do your homework, you will be able to glide through this process with ease. The documents required with the loan application for a house loan are generally dictated by the applicant’s profession/occupation. Let us begin with the documents that everyone has access to:

PAN

Identity Verification

Driver’s License
Aadhar Card
Passport Address
Proof An Identity
Proof with the Permanent Address
Voter’s ID Card
Telephone Receipt for Electricity Bill

Water Tax
Property Tax
Post-paid Mobile Phone Bill
Documents Concerning Property

Stamped sale agreement/Sales Deed or letter of Allotment
NOC from the builder/housing society
Certificate of Possession Estimated Construction Costs
In the event of a newly built apartment, a bank account statement is required, as well as an occupancy certificate

Passport-sized photographs

Home Loan Documents Required for Salaried and Self-Employed Applicants
A home loan application form that has been completed and signed.
Identification Documentation: (Any one of the below)
PAN Card,
Passport,
Aadhaar Card,
Voter ID Card
Driver’s License
Age Verification: (Any one of the below)
Aadhaar Card,
PAN Card,
Passport,
Birth Certificate,
10th Class Marksheet,
Bank Passbook,
Driving Licenses are all required documents.
Documentation of residency: (Any one of the below)
Bank Passbook
Voter’s ID
Ration Card
Passport
Utility Bills (Telephone Bill, Electricity Bill, Water Bill, Gas Bill)
LIC Policy Receipt
Letter from a reputable government agency confirming the customer’s address
Income Documentation
Form 16 (Salaried)
Payslips from the last two months,
Increment letter
IT returns for the last three years (increment or promotion letter)
Aside from proof of income, the salaried individual would be asked to give proof of any investment (such as fixed deposits, shares, etc.) as well as passport-size pictures.

For Self Employed:
Income Tax Returns (ITR) for self-employed individuals over the last three years
The Balance Sheet and Profit & Loss Account Statement of the Company/Balance Firm (duly attested by a C.A.)
License Specifications for a Business (or any other equivalent document)
Professional Practice Permit (For Doctors, Consultants, etc.)
Certificate of Establishment Registration (For Shops, Factories & Other Establishments)
Evidence of Business Location
6. List of Property Documents for Home Loan:

Receipts must accompany payments made to the developer (in case of a new house)
Buyer Agreement / Letter of Allotment
Title Deeds, as well as the preceding chain of property papers (in case of house resale)
a copy of the purchase agreement (if already executed)
Receipt of the first payment from the house seller
Title deeds for the plot (in case of house construction)
A detailed estimate of house construction by an architect or civil engineer.
A copy of the plans that have been approved by the local government.
Evidence showing the property is free of encumbrances
7. Additional Documents:

All candidates and co-applicants are required to provide passport-sized photographs (to be affixed on the application form and signed across)
Proof of one’s contribution
Bank statements over the last six months demonstrating debt repayment (if any)
Information on ongoing loans in the name of an individual or a corporate entity (such as the outstanding amount, monthly installments, purpose, remaining loan length, and so on) (If applicable)
A check made payable to the home loan provider for the processing charge
For Salaried:
An employment contract or appointment letter is required if the current job is less than a year old.
Latest Form 26 AS for Self-Employed and Business Profile
A CA / CS certifies a list of Directors and Shareholders with their interests in the case of a corporation.
A partnership deed is required if the company entity is a partnership firm.
The Memorandum and Articles of Association of the Company

List of Home Loan Documents Required for NRIs/PIOs Applicants
KYC Documents:

Passport with VISA stamps / PIO Card
Proof of Address with a current foreign address
Proof of Income (For Salaried:):

Work permit

Employment Contract / Appointment Letter / Offer Letter (if in another language, duly attested by employer/consulate / foreign office / embassy)
The permit to work/identity card (documents in a language other than English must be translated into English and countersigned by the consulate)
‘In the last three months’ Wage certificates/slips (in English) detailing name, date of joining, designation, and pay data are required for applicants working in the Middle East.
Salary credits are shown on bank statements from the previous six months. NRE / NRO Account (if any)
Credit Bureau Information (in case available in the country where you are residing)
a legally acknowledged copy of the previous year’s ITR (except
NRIs/PIOs residing in Middle Eastern countries and merchant navy employees). A copy of their Continuous Discharge Certificate is required for applicants operating in the merchant sea (CDC).
P60/P45 forms, as well as the most recent employment contract, are required (for salaried)
Please supply a loan A/C statement for the prior year if you have a previous loan from another bank or lender.
For Self Employed:
Professional Practice Permit / Business Permit (for Doctors, Consultants, etc.)
Certificate of Establishment Registration (For Shops, Factories & Other Establishments)
Proof of business location
Proof of income is essential for self-employed professionals/businessmen.
Balance sheets and profit and loss accounts audited or confirmed by a C.A. ITR for the last three years (save for NRI/PIOs resident in Middle Eastern countries)
‘In the last six months’ Bank Foreign account statement in the name of an individual and/or a company/unit
Property related documents

Original title deeds tracing the ownership of the property
Encumbrance Certificate Agreement for Sale/sale deed/detailed cost estimate from Architect/Engineer for property to be purchased/built/extended/improved
A copy of the construction/purchase/extension designs that have been approved
Receipts for payments made to purchase the housing unit, ULC clearance/conversion order, and so on.
Receipts for investing margin money from NRE/NRO account in India using regular banking channels
Receipt of the most recent tax payment
Letter of allocation from the co-operative society/flat owners’ association
Remember that all documents must be self-attested. Aside from the above-mentioned documents, the lender may need more or less.

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Hair Solutions: Uninformed Ways Men Are Damaging There Hair

Were you aware that every day we lose about 60-100 hair strands? Yeah, that’s so many – and you might lose more if you don’t take care. In fact, you may end up with substantial hair thinning and breakage if you are not careful and even if you’re genetically prone to balding.

Without even knowing it, a lot of men are slowly and gradually damaging their hair. And it’s the daily little thing that brings on the damage. So what are the factors that cause all this damage?

Here’s 10 common hair solutions that men are unaware of.

1. Shampooing Frequently

It seems best to wash your on a regular basis if your intention is to be clean and well-groomed. With hair as one of the key factors in the overall look and personality of an individual, some men take more time to give it the best care and style. Some men also use trendy styling products such as wax, clays, fiber, creams, etc… to create and preserve their desired wave. Therefore it becomes mandatory to wash hair more often with shampoo.

In research conducted by Business Insider, it has been claimed that men should wash their hair at least three times a week. The explanation is that shampoos can be harmful to hair when used excessively. It contains chemicals like sulfates that strip your hair with natural oils that keep your hair bright, solid, and smooth. In general, shampoos should not be used on a regular basis. On days when you’re not shampooing, just massage your scalp gently. This hair solution action will help extract excess oil and dirt from the scalp while also promoting improved blood circulation.

2. Showering with Hot Water

We are often delighted having hot and steamy shower. It is an honest escape for every men out there. Right? If you love your hair, then you should probably cut down on this bad habit. The very simple reason being, hot water strips the hair and also weakens the hair by making it more vulnerable to breakage and falling out. In fact, the hair can also be harmed when exposed to extreme heat. You should try to use luke warm water instead of hot, this way it will be more gentle to the scalp and hair.

3. Using a Blow Dryer/ Stepping Up Blow Dryers

It is assumed that excessive use of blow dryers causes baldness because of their high temperature, but this is not necessarily true. It’s the scalp that gets the most damage. Most people don’t know, but blow dryers can reach 500 degrees. This heat can cause severe damage to your hair making it more dry and weak. In fact, it can also remove the natural oil from your strands making it easier for your hair to break and crack in long run. What’s even worse is that such intense heat can cause hair follicles to die resulting in hair loss.

However, you can stop this from happening by reducing the use of blow dryers in long run and in order to develop a good hair solution regimen.

4. Miracle Hair Styling Products

Have you ever been wowed by the changes you see in your hair when you switch shampoos? It’s brilliant right? But have you ever wondered if a product could really alter the whole hair condition in one single application entirely? Allow me to let you in a secret – this never happens!

There is no way that the use of styling products will remedy the whole of this overnight if bad hair products and heat from hair devices has harmed your hair over time. If you seem to find the only product that did this miracle, we can guarantee that it has an ingredient called silicones.

5. Comb it easy

Vigorous brushing is never a good idea for your hair because it can strip your hair’s protective layers. This makes your hair more sensitive to UV damage, heat styling, and color treatment. Gentle strokes help avoid hair falling out and redness of the scalp. It is also best to begin blowing your hair at the ends and to work your way to the roots to prevent unnecessary pulling.

6. Avoid Stress

Learning how to cope with your stress will reduce your further hair loss risk. However, sometimes this is better said than done. Before you figure out what works for you, you must try various stress management strategies.

Popular ways to reduce stress:

Exercise is a great way to eliminate stress. Try taking a light daily walk, or doing some yard work.
Engage yourself with something that you enjoy doing can be a great way to combat stress.
Try taking a few minutes each day to write about your feelings and the things that cause you stress.
Review daily items that trigger your stress and discover ways of coping with it.
Meditation and breathing exercises are great ways to allow yourself to focus on the present moment.
You can also try techniques that combine meditation with physical exercise, like yoga.

7. Nutrient Deficiencies

Some nutrients contribute to severe hair loss in low or excessive quantities. For example, it can make your hair thin, dry, and easy to break without enough protéin and excessive vitamin A.

How many of these are you guilty of? Hair loss is normal, but if you keep on repeating poor habits, there is a good chance that your hair could suffer.

For those who may be losing more hair than usual, and is already showing signs of baldness, it’s time to look for the best hair transplant clinic near you.

Wrapping it up!

What we should all get behind when it comes to our hair is that it is never good to hurt it. Say your ultimate hair objectives, but we believe all of us would agree that it is never good idea if we have dry, splitting strands split and break, no matter what type of hair, color, or cut it may be.

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Heat Exchanger Examinations

Firstly, what is heat exchange inspections? This are inspections that are getting done on the heat exchange system in your home or even in your office. Many things can go wrong with a heat exchange system, especially if the system is old and not getting maintained very well.

These inspections should be done on a regular basis and need to be done by someone that has experience with heat exchange inspections and how different heat exchangers work. These examinations are making sure that there aren’t any damage, leakage, or risks of explosions of the exchanger.

The importance of heat exchanger inspections

It is extremely important to get heat exchanger examinations done on a regular basis. And, that it should be done by a professional with the right experience. In homes, there are small children, and families that can get seriously injured when a heat exchanger malfunction and cause an explosion or a leakage of hot water or steam.

The problem is that because these examinations cost money and most of the time require repairs, many homes, and office owners don’t get examinations done. They hope that the heat exchangers are still in good condition and that it won’t cause problems in the near future.

Things that should be examined with the exchanger

There are a couple of things that should be analysed with the heat exchanger. Firstly, al the valves need to be inspected. It needs to be inspected for leakage and valves that might be on the verge of breaking. The whole system needs to be examined for spots where leakage can start, or that already has started.

It is important to make sure that the whole system is examined to make sure that everything is working correctly and that there isn’t any blockage or any other problems that can cause the system to explode. Yes, this can happen under extreme cases, and when the system isn’t analysed on a regular basis. Places on the heat exchanger that might start to rust, or that aren’t in a good condition needs to be replaced. If anything isn’t according to the rules and regulations of having a heat exchanger, you won’t get clearance and certification about the examination.

Who should be doing these heat exchanger examinations?

No, this isn’t something that you can do yourself. You can go over the heat exchanger to see if there is anything that needs to be replaced before you hire an experienced heat exchanger maintenance specialist. But you can’t do the inspection yourself and think that the heat exchanger is in good condition and that you don’t need to worry about it any further.

The only way that you can say that the heat exchanger is in a good condition is if the inspector from a reputable mechanical services company has given you a clearance certificate.

Heat exchanger examinations. If you have a heat exchanger in your home or office, this is something that you need to do regularly. Especially before winter starts. With this guide and information, you will know why it is important to do the examinations on a regular basis and why you need to hire a professional inspector for the job.

CR Asia is a leading industrial maintenance and shutdowns specialist, providing a comprehensive range of services to the oil, gas, chemical, refining and power industries, including mechanical and plant maintenance services, mechanical engineering services, heat exchanger maintenance and cleaning services and more.

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