Common questions about home loans
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How much of the property value can I actually borrow?
Most lenders finance up to around 75-90% of the property's value, depending on the price band and the lender's own policy. The remaining amount is your down payment.
How long does loan approval usually take?
Once all documents are submitted, sanction typically takes anywhere from a few days to a couple of weeks, depending on the lender and how quickly the property is verified.
Can I prepay or foreclose my home loan early?
Yes. For floating-rate loans, most lenders don't charge a prepayment penalty for individual borrowers. Fixed-rate loans may carry a foreclosure charge — check your loan agreement.
What's the difference between a fixed and floating interest rate?
A fixed rate stays the same for a set period regardless of market movement. A floating rate moves with the lender's benchmark rate, so your EMI can change over the loan's life.
Do I need a co-applicant?
Not necessarily, but adding one — often a spouse or parent with their own income — can increase your eligible loan amount and may help with the interest rate offered.
Will a lower credit score stop me from getting a loan?
Not always, but it can mean a higher interest rate, a lower eligible amount, or requiring a co-applicant. Improving your score before applying generally works in your favor.
Does Yellow Bird Homes charge for loan assistance?
No — helping you navigate the loan process is part of working with us on your purchase. Any fees you do pay (processing fees, etc.) are set by the lender you choose, not by us.