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Home Loans

Home Loan

This type of loan is designed to help individuals finance the purchase of a home. This kind of loan provides borrowers with the financial support needed to make a significant investment in their future by purchasing a property.

One of the main benefits of a home loan is that it can provide borrowers with a large amount of financing at a relatively low-interest rate. This makes it possible for individuals to purchase a home even if they do not have the funds to do so outright.

Another benefit of a Home Loan is that it can be customized to meet the specific needs of the borrower. For example, borrowers can choose the loan tenure, repayment period, and interest rate that suits their financial situation.

However, it is important to note that there are several factors that can affect the eligibility of a borrower for a Home Loan, such as credit score, income, and employment status. Additionally, there are various fees and charges associated with Home Loans, such as processing fees, prepayment penalties, and foreclosure charges.

In conclusion, a Home Loan can be a valuable tool for individuals who are looking to purchase a home. However, borrowers should carefully consider the costs and requirements associated with this type of loan before applying. By doing so, borrowers can make an informed decision and choose a Home Loan that meets their financial needs.

Salaried

  • Application form to be filled and signed by applicant and co-applicant.
  • One Passport Size photo of applicant and co-applicant.
  • Copy of Latest Telephone bill for residence address proof.
  • Copy of Pan Card of applicant and co-applicant.
  • Copy of last 3 months payslip and CTC letter.
  • Copy of last 2 years Form 16 and Saral.
  • Copy of last 6 months bank stmt where salary is credited.
  • Processing fee cheque in favour of Bank/ HFC’s.
  • Details of Present loans with sanction letter and repayment track record.

Self –Employed

  • Application form to be filled and signed by applicant and coapplicant.
  • One Passport Size photo of applicant and coapplicant.
  • Copy of Latest Telephone bill for residence address proof.
  • Copy of Pan Card of applicant and co-applicant.
  • Copy of Registration certificate of firm.
  • Copy of last 2 years ITRs with Statement of Income, Profit & Loss Account, Balance sheet with Form 3cb & 3cd.
  • Copy of last 12 months bank stmt
  • Copy of Partnership deed in case of partnership firm.
  • Copy of MOA & AOA in case of Pvt ltd co.
  • Processing fee cheque in favour of Bank/ HFC’s.
  • Details of Present loans with sanction letter and repayment track record.

Pre-Approved Projects (Direct Purchase from builder)

  • Copy of Allotment letter.
  • Copy of Cost Breakup letter.
  • Copy of Sale and Construction agreement.
  • Copy of Assignment agreement (if transferred from assignor)

Un- approved Projects (Direct Purchase from builder)

  • Copy of legal documents of the project.
  • Copy of approved plan for the project.
  • Copy of Allotment letter.
  • Copy of Cost Breakup letter.
  • Copy of Sale and Construction agreement.
  • Copy of Assignment agreement ( if transferred from assignor).

Individual Resale house:

  • Copy of legal documents of the property.
  • Copy of approved plan for the property.

Plot Purchase:

Pre-Approved project:

  • Copy of Allotment letter.
  • Copy of Cost Breakup letter.
  • Copy of Sale agreement.

Un- approved Projects:

  • Copy of legal documents of the project.
  • Copy of approved plan for the project.
  • Copy of Allotment letter.
  • Copy of Cost Breakup letter.
  • Copy of Sale agreement.

Balance Transfer loans:

  • List of original documents held in bank
  • Foreclosure-Quote.
  • Loan sanction letter and Repayment track record.

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