Easy Instructions to get a Home Loan in Nepal

Easy Instructions to get a Home Loan in Nepal with any Banks

First, What Can You Do with Home Loan?

Home Loan, also commonly known as a mortgage, is a type of loan that a bank or a financial house provides to people so that they can buy land, house, or renovate or construct a building. To get a loan, you need to fulfill some requirements, and if in case you can’t pay it back, the bank will be liable to take your property for which you use the loan.

How will you get home loan with any Banks in Nepal.

Those who are working (Individuals & Co-operate Bussiness) who are looking Working individuals and            co-operative Invest - Buy on Real Estate are and can appply for Process of home loan..

How much time it will take for process to get Home Loan?

• 1st thing you need to do is make a mentality of your loan Strategy, how much you are looking for & from which bank is the easiest way. You need to approach and ask for require Documents needed. After all the paper works are Full filled present the Bank loan Section (Manager).

• When all critearea will meet like bank will swnd to check the Property Locations, Details, Income Source, Current Market Price, Government Market Price, Future Growth rate. Valuator will them sumbit all the report to bank. If all are in good shape then your next step Begins.

• Bank will check your financial statements, records for safe keeping and let you pay some amount upfront which applies at the amount loan you have asked for. Bank will also look for assurance form your side for what purpose you are buying a loan for.

• After this steps are Done. Bank will approve your Loan request as per your loan size. Then every month you need to deposite the EMI- Equated Monthy Installment for the loan period time.

Public Ask us many times...

Does Bank will pay all the 100% Amount on your Real Estate Purchase?

Answer is straight No. Most Cases bank will cover 20% to 80% . Percentage will depend on your Banking statement Score and trust.

You can check loan Structure at different Banks like Nabil loan, Standard Charter Loan, Siddhart Bank Loan and more....

Keep in mind Bank will only support you to fund your project with certain intreset in return. They will not build your home or Real Estate development process.

SO what is required for Loan process in Nepal?

Dont get confused in any way its a simple steps .

But bank will make you sure of two differents things.

1. Do you have a valid income Stream.

2. If you are not able to pay then can your Guarantor can pay it back.

So Loan(Mortage) is risk for both parties Borrower & Lender, when amount is not being payed.

If Your Guarantor cannot pay then bank will look for legal ways.

• If you EMI is not paid for more than 6 Months.

• Call from Bank Loan department will notify you and guarantor time to time.

• Notice will be sent to you via mail or by paper

• If still borrower is unable to pay bank will issue 45 days of notice on Government approved newspaper.

• And finally will be sold to bider in market.

What is required in Bank point of View.

• The bowore or applicant can provide sufficient documents of income source like Salary Certificate, Financial Banking, Business Audit Report, Business Growth rate.

• Bank will record your payment source and even Paying EMI do you can live financially with your income source which should be more than 25% of Emi paying to Bank

• Are you above 18 years old with valid citizen of country your travel history.

• Bank will also ask total gross income of family members and where they are employed or thier business are setup.

• Your purposed site where you are developing land should be away from electricity High Extensions Lines more than 8 Feet away from the line location as per gross bank requirements.

• Is you land has any Public or Government Disputes..(Temple,Guthi,Rajkulo,Family rights,Court stay orders,road )...

If you are confuse or new act has been implement can can take a advice from bank loan departments where they will provided you all the list required for your easiness..

1. Recent Photo Passport Size of Borrower/Guarantor.

2. Valid CitizenShip Xerox Copy

3. Lal purja Document Xerox Copy

4. Ranjinama Photo Copy

5. Municipality or Vilklage Development Commitee Approval with drawind Sctech plans.

6. Land Original & Copy of Blueprint Paper.

7. Amount paid Tax receipt from Malpot Nepal Government stamp.

8. Charkilla Paper approved.

9. Bhawan Nasksa or Nirman Sampanna Documents approved by Municipality ofr VDC.

10. Income Source Certificates like Salary, Audit Reports, Company Registration, Pan or VAT Documents.

11. Map locations required.

This is all required for banking process approvals...

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