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Every person dreams of buying his or her own home. A home is generally the most expensive asset a person buys in his or her entire lifetime. The value of the home is roughly 5-8 times the annual income of individuals and hence people need a financial solution to buy a home.
This finance solution that banks and financial institutions offer is a home loan. A home loan basically funds you with a lump sum equal to or less than the value of your house thereby helping you make the purchase. This amount is repaid by individuals back to the banks or financial institutions with interest.
Getting a loan from a bank or a financial institution is not an easy task. It requires a lot of paperwork, numerous follow-ups and knowledge of various options available. A home loan agent makes this task of getting a home loan easier for you.
A home loan agent is an individual that helps you during the entire process of getting a home loan right from initiation to the final disbursement of money to you. Every bank and financial institution has authorized individuals that function as home loan agents. Some home loan agents are freelancers and are not associated with any financial institutions.
A home loan agent has the necessary experience, knowledge and understanding of various options for taking a home loan and can guide individuals or companies to choose an appropriate home loan option that is suitable based on their financial situation and requirements.
Once you meet a home loan agent, they go through your credit profile, get your credit rating report and come up with the amount of loan a person may be eligible for and various options that clients can take the home loan.
Traditionally, home loan agents met clients physically and helped you during the entire housing loan process. However, recently, quite a few home loan agent are available virtually at any point in time in assisting clients with their queries. Thus, clients can apply for home loans online as well with the assistance of home loan agents.
In India, any Indian citizen above the age of 18 with a minimum qualification of 12th grade is eligible to become a home loan agent.
Apart from the minimum education qualification, it is expected that home loan agents are good at communication and networking skills.
The ability to analyze options, empathize with clients and salesmanship are also the traits of a home loan agent. Becoming a home loan agent is also a side-profession of many individuals that requires no financial investment as such.
An individual aspiring to become a home loan agent needs the right platform in order to learn the various aspects of home loans and reach to connect with clients from various corners of the country.
Choice Connect is a diverse financial conglomerate that empowers individuals to become home loan agents trained by top financial institutions. Here are some of the benefits that Choice Connect brings to the table:
Different platforms have different steps to register as a home loan agent. Becoming a home loan agent on the Choice Connect Platform is extremely easy and the process comprises 4 steps: