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Some Circumstances under Which Your Home Loan Gets Rejected

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Home Loan

We all wish to have our own abode someday whether it’s in the hills, near the lake or reaching the city skyline. A home is a place to share your feeling and emotion with family. It’s the biggest peace of mind for you. Nowadays, due to rising inflation costs and prior financial commitment it becomes difficult to buy your dream home through little savings you have.

Obviously, you may opt for a home loan. However there are certain parameters banks and finance companies will judge upon before sanctioning any loan amount for you. If you don’t fit into the bracket your home loans might be rejected as well. Let’s have a look at common issues that could see your mortgage application rejected.

Bad Credit history

Many times people take money and don’t repay on them on time. This could lead to money troubles such as payment defaults, bankruptcy, unpaid bills, so lenders may decide that providing you with home loans could be risky option. It’s better to pay your credit card bills, unpaid dues and improve your credit history, keep in mind that the negative events can stay in your credit file for couple of years based on their severity.

Margin Money

When you apply for home loans Lenders ask an up-front cost of atleast 20% of the property value, which is termed as Loan to Value Ratio (LVR) of 80% or lower. So, the lesser amount you provide as security up front, the less likely your application is to get approved. It’s better to save money for the margin money and then approach the lender as banks or finance companies will offer you attractive interest and flex-repayment options.

Income stability

When checking home loan applications, lenders check your job or business stability. So, if the repayments may eat up a high percentage of the borrower’s money, they might reject your application rather then put the borrower in more financial stress. Apart from size of the income, it’s your income stability that is considered as well. You have to prove you consistently receive money through job or business. Contractors or others with not so stable income may find it difficult to get approval for home loan application.

Too many Debts

If you already owe a major sum of money to creditors, lender might feel risky to lend you more money. They may feel concerned that you won’t make payments on time. While sanctioning home loans they consider repaying outstanding personal loans, car loans, credit cards bills, etc. If you have multiple credit cards, it can sometimes be worth cancelling what you don’t need or use any of them. Lenders will assess your ability to repay a home loan assuming you’ll have maxed out your credit cards.

Too many applications

In a given year, each time you apply for home loans to personal loans, to credit cards a records will be  maintained on your credit history, whether it gets approved or not. So, making too much loan application over a short period of time could raise red flags for some lenders if these applications were to be rejected, which indicate risky borrower. Instead sending application to each one of them, consider the one you are more confident being approved for home loans.

Even it is rejected don’t be panic or sad, instead take some time to understand, try to improve on these grounds before you apply again.

I am a financial blogger since 2005, I am currently Working at All About Loan India as financial blogger, I love to share blog or article on Home Loan Plan and Policy, Mortgage Loan and Interest Rates on housing loan.

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What is the zerobank and what it offers?

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Blossoming of the cryptocurrency as well as blockchain technology has motivated the pioneers of the present world. The technologies of today have brought about the opening of locked doors as well as it has led to the creation of new currencies. Even though the cryptocurrency has a huge impact on the global economy yet it is not recognized as “money”. It will take some time for the new market to get stabilize and the pioneers to figure out the way to compete with deep-rooted fiat currency. However, still the world economy is functioning by a legacy system of 164 authorized national currencies and the problem of exchanging these currencies persist till now.

What is Zerobank?

It is an innovative money exchange platform allowing the customers to make non-commercial transactions globally and also it launches its initial coin offering to the participants. This platform makes use of the smart contracts as well as blockchain technologies and aims to remove the traditional remittance as well as exchange systems.

It helps in peer to peer sharing of the economy and here, the earned money from the centralized organization goes back to the community. In addition to blockchain technology, this project makes use of the shared economy model. This model maximizes the benefits for the user who uses this system by cutting down all the intermediary costs from Money transfer organization and current banking. Zerobank offers an opportunity to its participants to become an agent as well as earn the extra money by bringing up the valuable services to the people around them.

ICO information-

The total number of security token issued is 1,600,000,000 ZB and the number of security token available for the sale is 640,000,000 ZB. The amount of this target sale is about 48 M dollars and the pre-ICO bonus offered will be 15%.

If you want to know further about the token sale then visits its official link. Zerobank has a team of the experienced IT members, the senior executive in top money exchange/ transfer, banking as well as financial service organization. Kai yee goh is the CEO who is also a senior executive in the transfast, united financial group, Harte-Hanks, PayPal and Western Union. Also, bao ly CTO, who is expert IT architect in financial and banking services, is present in the team. He has extensive work experience in consultancy as well as an architect as his work in the BNP Paribas Fortis, HSBC and AXA.

Other team members of the zerobank are also well-known individuals; the team of zerobank is working to disrupt the present exchange and money transfer services available worldwide. Hurry up and make use of this amazing platform today. Becoming the part of this platform you can gain various benefits and get solution to the traditional banking problems. If you are a tour guide, salesman, or student and searching for the job opportunity then this platform are made for you. Become the agent of zerobank today. Before using this platform makes sure you read its terms of use and policy.

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Diamond Power Infrastructure on a transformational spree with Digital India program

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India, being one of the fastest growing economies in the world, is witnessing a digital revolution. PM Narendra Modi has trotted out numerous programs to promote Digital India, ensuring digital inclusion across the country. On this note, Amit Bhatnagar Diamond Power MD, has digitally-empowered his company, in the field of manufacturing power transmission equipment.

Diamond Power Infrastructure Ltd, also known as Dicabs, was the first Indian company to manufacture alloy conductors and proto-test HSHC (High Strength and High Conductivity) conductors. Today, Dicabs is the only company in India, which holds a BIS mark certification for alloy conductors.  It also complies with the ISI quality standards for manufacturing all types of conductors.

The Vadodara- based company has also established India’s headmost ‘continual horizontal lead extrusion facility’, along with the ‘aluminum corrugation facility’ for cables (66KV). Dicabs is also ranked at the fifth position in the world, for manufacturing extra high-voltage cables up to 550 KV.

The homegrown companies are getting new opportunities to grow, as the Centre has reduced imports in the segment. India is on a transformational spree, and will become a hub for technology and innovations in the coming years. The initiative has already received pledges from Diamond Power Infrastructure Ltd and other corporate ventures, with investments worth Rs 4.5 lakh crore. This figure is expected to surge as the ‘Make in India’ campaign gains momentum.

Amit Bhatnagar Diamond Power

Amit Bhatnagar believes that quality and technology go hand in hand. Being a technocrat, he has always supported technology by reining on state-of-the-art technology for all business operations.

His ability to sense, envision and adapt to change pertaining to technology has been the company’s key growth driver, since the initial years. “With India progressing on the path of innovation and technology, Dicabs would unremittingly partner its journey towards successful frontiers. Simultaneously, we would continue to adapt to as well as lead the change through proactive investments in technology,” says Amit Bhatnagar.

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Business

Diamond Power Infrastructure on a transformational spree with Digital India program

Published

on

By

amit bhatnagar diamond power

India, being one of the fastest growing economies in the world, is witnessing a digital revolution. PM Narendra Modi has trotted out numerous programs to promote Digital India, ensuring digital inclusion across the country. On this note, Amit Bhatnagar Diamond Power MD, has digitally-empowered his company, in the field of manufacturing power transmission equipment.

Diamond Power Infrastructure Ltd, also known as Dicabs, was the first Indian company to manufacture alloy conductors and proto-test HSHC (High Strength and High Conductivity) conductors. Today, Dicabs is the only company in India, which holds a BIS mark certification for alloy conductors.  It also complies with the ISI quality standards for manufacturing all types of conductors.

The Vadodara- based company has also established India’s headmost ‘continual horizontal lead extrusion facility’, along with the ‘aluminum corrugation facility’ for cables (66KV). Dicabs is also ranked at the fifth position in the world, for manufacturing extra high-voltage cables up to 550 KV.

The homegrown companies are getting new opportunities to grow, as the Centre has reduced imports in the segment. India is on a transformational spree, and will become a hub for technology and innovations in the coming years. The initiative has already received pledges from Diamond Power Infrastructure Ltd and other corporate ventures, with investments worth Rs 4.5 lakh crore. This figure is expected to surge as the ‘Make in India’ campaign gains momentum.

Amit Bhatnagar Diamond Power

Amit Bhatnagar believes that quality and technology go hand in hand. Being a technocrat, he has always supported technology by reining on state-of-the-art technology for all business operations.

His ability to sense, envision and adapt to change pertaining to technology has been the company’s key growth driver, since the initial years. “With India progressing on the path of innovation and technology, Dicabs would unremittingly partner its journey towards successful frontiers. Simultaneously, we would continue to adapt to as well as lead the change through proactive investments in technology,” says Amit Bhatnagar.

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