(PDF) Union Bank Home Loan Application Form: How to fill

Home loans are a common way for Indian residents to purchase the property. Union Bank of India is one of several lending institutions that offer home finance to qualified customers.

The Union Bank Home Loan Application Form is easy to fill out, and the bank’s supportive customer service representatives can help you with any questions you may have about using their services.

What is a home loan?

A home loan is a loan for the purchase or construction of a house. It is also called a mortgage, but the two terms are used interchangeably in most conversations.

A home loan is a type of loan that is used to buy a house. The money you borrow from your lender goes towards paying off your home’s principal (the actual price you pay for it) and its interest rate.

Why do you need a home loan?

There are many reasons why you need to get a home loan. Here are some common ones:

  • To buy a house. If you have been saving up money for a while and want to finally buy your own home, then you will need a loan. The bank will give you the money in return for monthly payments later on (until the loan is completely paid off).
  • To pay for home renovations or repairs. There are times when something happens in our homes that need fixing or renovating and we don’t have enough money to do it ourselves we may need help from others who can lend us some cash so we can pay them back later on (with interest).

Types of union bank home loan

There are a few types of Union Bank Home Loans. These loans include:

1. Union Home

  • Buy a new or used residential unit (house/flat/villa/apartment, for example).
  • Building a residential unit on existing non-agricultural land.
  • Buy a non-agricultural property for the purpose of constructing a housing property.
  • Renovations, upgrades, and extensions to an existing residential residence.
  • Acquisition of a home loan obtained from some other bank or financial institution
  • Under construction residential unit completed.
  • Solar panels are purchased in conjunction with the purchase or building of a home.
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2. Union Awas

  • Special Union bank Home Loan Scheme for purchasing or building a home in a semi urban or rural place.
  • Repairs/improvements/extensions to existing semi urban or rural residential property.

3. Union Smart SaveRead more

4. Union Roof Top SolarRead more

Documents required for a Union Bank home loan

A personal loan is a big financial decision, and you’ll want to know that your bank has been through your application with a fine-tooth comb. Before you apply for a UBI home loan it’s important to read the documents required by your lender so that you can prepare accordingly.

Please ensure that the following documents are available to you before you start the application process.

  • Passport size photograph of the applicant(s).
  • Last two months’ salary slip or last six months’ bank statement (for self-employed).
  • Copy of PAN card of applicant(s) and co-applicant.
  • If you are a self-employed professional, then the last two years’ IT returns with computation.
  • If you are a self-employed non-professional, then the last two years’ IT returns and profit & loss, balance sheet certified by an accountant.
  • Latest electricity bill (original or duplicate copy, not older than three months).
  • If you have an existing housing loan, please submit the most recent original loan repayment schedule issued by your primary lender.
  • Original employment proof. For example, an appointment letter or a recent salary disbursal letter.

You should also be aware that lenders often require additional documentation depending on your circumstances, so check with them before submitting an application.

How to fill the Union Bank Home Loan Application Form

The Union Bank Home Loan is a great way to get your hands on a home loan. The process is simple and straightforward, but it might take some time to get through it. If you’re ready for the application process, then here are some tips to help you along the way:

Read the Terms and Conditions of the Loan Application Form: It’s always a good idea to read over all documents before signing them. This includes any documents related to your loan application as well.

Make sure that you understand all of the information included in these forms and have answers to any questions that may arise during this process. If a question does come up that you don’t know the answer to, ask someone from your branch or call customer service for help!

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Fill Out All Required Fields: Every field in this form must be filled out in order for your application to be processed properly.

Even if they don’t seem relevant or necessary at first glance, make sure that they are filled out anyway because they could affect whether or not you qualify for your loan!

Be Honest When Filling out Your Personal Information: This seems obvious but it’s important that you provide accurate personal information when applying for a home loan with Union Bank Mortgage Corporation so

This section contains information about you, such as your name, address, date of birth, marital status, occupation and income.

Loan Requested: Enter the Amount you required, Tenure ( no of months), Type of Loan, and Monthly Spending.

Loan Details: Enter the Loan Purpose (What you want to do with this loan) and the Estimated Amount.

Financial information: (about your investment such as gold, bonds and more)

Bank account details: Enter union bank account details or other banks you have.

Details of property: property details such as size of your land in square feet, address.

References: name and address of any person who is not linked to you

Track Union Bank Home Loan

Processing your home loan application

Processing your home loan application is the first step toward owning your new home. Depending on what kind of loan you’re applying for, processing may take anywhere from a few days to several weeks.

Don’t worry, we’ve got everything you need to know about the steps involved in processing your application, including what’s required from you and how long each step takes.

In this section, you will learn about the processing time for a home loan, what the steps in home loan processing are and how to avoid delays.

What is Processing Time?

Processing time refers to the time required by a bank to complete a residential loan application from start to finish. It includes all necessary documents like income proof, credit history and other legal formalities.

How long does it take to Process a Union bank Home Loan?

The processing time for a residential home loan depends on various factors like the amount of loan applied for, repayment terms, type of property etc.

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But generally speaking, it takes between 7-15 days for an application to be processed by union bank. Once approved by the bank, they will send you an approval letter with details of your loan amount along with other relevant details like tenure, interest rate etc.

After your home loan is approved

Once your home loan is approved, you will receive instructions on how to repay the loan. You can make payments through your bank account or set up automatic payments.

If you miss a payment and don’t pay it within 10 days, interest will be charged on the amount of your missed payment. If you continue making late payments, They may require that additional money be added to your account each month until it is paid in full.

You can apply for a refinance by submitting an application online or over the phone with one of their representatives at 1800 22 22 44 / 1800 208 2244 (toll-free) or for NRI 918061817110. The processing process usually takes between two weeks and one month after we receive all the necessary paperwork from you.

Closing your home loan

Closing is the final step of applying for a bank home loan. During this phase, you will receive confirmation that all documents have been submitted correctly and that your application has been approved.

The closing also means signing all documents to finalise the deal, including your property deed, payment schedule and any other legal agreements between you and the bank. The closing process varies from lender to lender but typically involves several steps:

  • Send copies of all required documents (for example, proof of income) via email or post so they can be reviewed by our lending team
  • Finalize any outstanding items listed in your contract (if there are any)
  • Sign all contracts on or before the settlement date – usually, this is one day prior to settlement

Conclusion

The Union Bank home loan application form may seem daunting at first, but don’t worry. The process is simple and straightforward. Just follow the steps outlined above and you’ll be on your way to owning the home of your dreams in no time!

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