A Study On Home Loan Processing Delays and Their Impact On Borrowers

The process of approving a home loan is a pivotal aspect of housing finance but is prone to inefficiencies, delays, and opacity. This research identifies the most significant issues affecting borrowers, such as delayed document verification, bank processing inefficiencies within the organization, and poor communication. These aspects lead to high stress and financial burdens among applicants, influencing their purchase of homes. The study also explores the role of Direct Selling Agents (DSAs) and the possibility of third-party verification services to make the process more efficient. The findings indicate that the use of digital verification systems, enhanced communication, and minimizing dependence on intermediaries can make the process more efficient and provide a borrower-friendlier experience. The research points out the requirement of technology-based solutions and regulatory interventions to enhance transparency and speed up home loan approvals