Buy your dream home with an affordable home loan
Getting a home loan to buy your own house is one of the most important financial decisions in your life. You can get a home loan from two types of lenders in India – the housing finance companies such as LIC Housing Finance Ltd., DHFL, and commercial banks like SBI or HDFC. However, most of the lenders provide 80% of the cost of the property. The remaining 20% needs to be paid as a down-payment by the borrower.
Features & Benefits
Eligibility & Documents Required
An applicant needs to fulfil eligibility criteria to qualify for a home loan. Based on the criteria, the home loan amount is decided. While home loan eligibility may vary from lender to lender, followings are the common criteria.
- Credit Score
- Income Requirements
- Co-applicant income
- Employment stability and continuity
you would need to submit the following documents along with the completed application form for the home loan process:
Documents for salaried individuals:
- Loan application form: Completely filled loan application form along with the recent passport size photographs.
- Identity proof: Any of Aadhar Card / Voters ID / Passport / Driving License / PAN Card.
- Income proof: Salary slips for the past 6 months or ITR, Form 16 for the past 2 years, salary account’s bank statement for the past 6 months.
- Residence proof: Lease and License Agreement / Utility Bill (maximum three months old) / Passport.