Determine Home Loan Eligibility

• AGE: Minimum age required for home loan is above 21 years upto the age of 60 years or superannuation, whichever is earlier at the time of loan maturity.


• INCOME NORMS: Net sal is the important factor considered for your eligibility. Your loan amount is calculated 60x of your net salary but your other obligations are considered in this.


• CIBIL SCORE: Individuals should have a good cibil track which includes your repayment track, decent banking and clear credit card statement. Also individuals with cibil -1 and cibil 0 can also apply.


• OTHER FACTORS: Individual with less income can add co applicant with himself. But the co applicant should have income proof with him. Also the co applicant should be your close family member.



ARE YOUR DOCUMENTS READY??




IDENTIFICATION PROOF

• Driving license
• Ration card
• Passport
• PAN card
• Voter’s ID card
• Employee ID
• Bank passbook

  AGE PROOF

• PAN card
• Birth certificate
• 10th class marksheet
• Bank passbook
• Passport
• Driving license

  INCOME PROOF

  Salaried individuals

• Form 16
• Certified letter from Employer
• Pay slip (Last 2 months)
• Increment or Promotion letter
• IT returns (for 3 years)

  Self Employed or businessman

• Last 3 years Income tax returns of the applicant along with computation of income duly attested by a Chartered Accountant
• Last 2 years Balance Sheet and Profit & Loss account of the firm- duly attested by a Chartered Accountant

  Property Documents:

• Sale deed, agreement of sale with the builder (original copy)
• Land and building tax paid receipts, location sketch of the property certified by the revenue authorities, possession certificate
• Letter of allotment given by the Housing Board/Society/Private builder
• Original receipts of the advance payments that are made towards the purchase of flat
• An approved copy of the building plan (key plan/floor plan in case of purchase of flats)
• Original of the land tax paid receipt and possession certificate as issued by the revenue authority
• Original No objection certificate (NOC) from the housing society or builder
• Detailed estimate of the cost of construction of house
• Letter from the builder/society/housing board, stating their account number and name of their bankers for the remittance of installments

• Purchase of Brand New Flat
• Purchase of Resale Property
• Buy a Plot of Land
• To cover Home Renovation Expenses
• Home Equity Loans

• Get offers from multiple banks which would mean you could choose the Bank that gives you:
• Lowest Interest Rates.
• Lowest Processing Fees.
• Door step Service.
• Quick Loan Disbursement.
• All this means that you get the best deals sitting at your home!
• So just apply and we would do all the running around for you.