Home Loan

The most popular and highest selling product in India, Home Loan is a loan provided by a bank or a financial institution for the purchase of a residential property. The loan can be used to purchase a new/ resale house, construct a house or to buy an under-construction house from a builder. The same property will serve as a security.

Features of Home Loan: -

• Home Loans Are Secured Loan
• The Property Financed Is Mortgaged with The Financier
• Home Loans Are Typically Long-Term Loans
• Repayment Option of Up to 20 Years
• The Interest Rates Are Low
• Borrower Can Avail Tax Benefits under Sec80©
• Property Can Be Jointly Owned
• Income of Family Members Can Be Clubbed for Higher Loan
• Can Be Used for Investment Purpose also

Documents Required For Home Loan:

• Photograph
• Identity proof
• Address proof
• Income proof
• Bank Statements
• Continuity Proof (Business or Job)
• Qualification proof (applicable only for Self Employed Professionals)
• Property Paper set along with complete Chain (historic) documents of the said property
• Agreement to Sell between Buyer & Seller