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When you take a home loan, you don’t just pay the EMI on the loan. There are several other charges, though not all apply to every case. There could be a processing fee of about 0.5-1% of the loan amount.
At times, the lenders waive it. For some high-value properties, two valuations are done, and the lower of the two is considered for loan sanctioning. The lenders call it technical evaluation fee-most lenders engage firms to scrutinize borrowers’ legal documents. Generally, banks include this cost in the processing fee, but some public sector (PSU) lenders charge it separately.
The following factors are to be considered when you apply for a Home Loan:-