In-house Financing

For in-house financing, financing is extended by the company who is selling the property.  Under this scheme, there is no transfer of ownership to the buyer until the property is fully paid.
If you are interested in securing in-house financing,

• Gather information about your savings and monthly cash profile.
• Having an idea of your funding resources, estimate what kind of a property you can afford, how much you can borrow, how much you can afford to pay on a monthly basis.

Typical factors affecting evaluation and approval of a request for in-house financing include the following: 

• Proof of monthly or periodic net cash inflow
• Size and quality of assets and investments currently owned
• Credit track record (as verified with other bank dealings and the presence of any court cases)
• Tenure with the employer or number of years in business, in case of a professional or an entrepreneur.

An application for in-house financing is typically evaluated within a period of two weeks to one month.  This timetable assumes complete documentation and solid evidence presented to support the various factors being used for evaluation.  Length of processing may be prolonged by incomplete documents or insufficient evidence of capacity to pay.