Home Loan
Home loan is a form of credit that helps you purchase or construction or renovation and extend your residential property without breaking your savings and investments. In this, the concerned property is mortgage to a lender as security till the closer of loan. Home loan interest rates starts as low as 6.65% per annum. Lenders usually sanction 75% to 100% of the property value as loan, which can be easily repaid in EMI’s over flexible time of up to 30 years. Other benefits that come with a housing loan include annual tax benefits, PMAY subsidy of up to Rs.2.67 lakh, balance transfer and top-up loan facility.
As the home loan market is crowded, finding the best home loan offer can be challenging, At Visionants, we help you compare, select and apply for the best home loan rates from India’s top Banks and NBFC’s. Our speciality is providing home loan funds from 50 sq. yards onwards.
Who can get HOME loan
Following are some of the keys to home loan eligibility factors across lending institutions and loan schemes, that are needed to be kept in mind to get home loan, common set of home loan eligibility criteria is given under:
. Indian Residents (Salaried, Self employee, Self employee professionals), Non Resident Indians (NRIs),
. CIBIL score 650 and above
. Age limit 21 – 60 years
. Income at least 6 months for Salaried employees.
. Income at least for 1 years for self employees.
. Minimum Salary at least Rs.25000 per month (Note: Varies across lenders and locations).
. Loan amount up to 100% of property value.
. ROI Starts from 6.65%
Required documents to get Home loan
| HOME LOAN | ||
| SALARIED CHECK LIST | Self Employee Check List | |
| 1 | 3 Months Pay slips | 3 ITRs full set |
| 2 | 6 Months Salary a/c Bank Statement | 1 Year Bank Statement from c/a and s/b |
| 3 | 2 Years Form 16 | |
| 4 | 1 Photo (applicant and co-applicant) | 1 Photo (applicant and co-applicant) |
| 5 | COMPANY ID PROOF Copy | |
| 6 | Id Proof (PAN CARD and Aadhaar) BOTH | Id Proof (PAN CARD and Aadhaar) BOTH |
| 7 | Address Proof (Election id or Gas bill or electricity bill or passport or Driving License) | Address Proof (Election id or Gas bill or electricity bill or passport or Driving License) |
| 8 | 1 Processing Fee Cheque | 1 Processing Fee Cheque |
| PROPERTY DOCUMENTS | PROPERTY DOCUMENTS | |
| 1 | Sale Deed(2 Sets Of Xerox) | Sale Deed(2 Sets Of Xerox) |
| 2 | Agreement Of Sale (2 Sets Of Xerox) | Agreement Of Sale (2 Sets Of Xerox) |
| 3 | 15 Yrs Link Documents | 15 Yrs Link Documents |
| 4 | Sanction Plan (2 Sets Of Xerox) | Sanction Plan (2 Sets Of Xerox) |
| 5 | Latest Latest Property Tax Receipt | Latest Property Tax Receipt |
| 6 | Latest Ec | Latest Ec |
| IF ANY LOANS, REQUIRED TRACK RECORD | IF ANY LOANS, REQUIRED TRACK RECORD | |
| MORTGAGE LOANS | ||
| SALARIED CHECK LIST | Self Employee Check List | |
| 1 | 3 MONTHS PAYSLIPS | 3 ITRs full set |
| 2 | 6 MONTHS Salary a/c BANK STATEMENT | 1 Year Bank Statement from c/a and s/b |
| 3 | 2 YEAR FORM 16 | |
| 4 | 1 Photo (applicant and co-applicant) | 1 Photo (applicant and co-applicant) |
| 5 | COMPANY ID PROOF copy | |
| 6 | Id Proof (PAN CARD and Aadhaar) BOTH | Id Proof (PAN CARD and Aadhaar) BOTH |
| 7 | Address Proof (Election id or Gas bill or electricity bill or passport or Driving License) | Address Proof (Election id or Gas bill or electricity bill or passport or Driving License) |
| 8 | 1 Processing Fee Cheque | 1 Processing Fee Cheque |
| PROPERTY DOCUMENTS | PROPERTY DOCUMENTS | |
| 9 | SALE DEED (2 SETS OF XEROX) | SALE DEED (2 SETS OF XEROX) |
| 10 | 15 YRS LINK DOCUMENTS | 15 YRS LINK DOCUMENTS |
| 11 | SANCTION PLAN (2 SETS OF XEROX) | SANCTION PLAN (2 SETS OF XEROX) |
| 12 | Latest Property Tax Receipt | Latest Property Tax Receipt |
| 13 | LATEST EC | LATEST EC |
| IF ANY LOANS, REQUIRED TRACK RECORD | IF ANY LOANS, REQUIRED TRACK RECORD | |
| CONSTRUCTION LOAN | ||
| SALARIED CHECK LIST | Self Employee Check List | |
| 1 | 3 MONTHS PAYSLIPS | 3 ITRs full set |
| 2 | 6 MONTHS BANK STATEMENT | 1 Year Bank Statement from c/a and s/b |
| 3 | 1 YEAR FORM 16 | |
| 4 | 1 Photo (applicant and co-applicant) | 1 Photo (applicant and co-applicant) |
| 5 | COMPANY ID PROOF copy | |
| 6 | Id Proof (PAN CARD and Aadhaar) BOTH | Id Proof (PAN CARD and Aadhaar) BOTH |
| 7 | Address Proof (Election id or Gas bill or electricity bill or passport or Driving License) | Address Proof (Election id or Gas bill or electricity bill or passport or Driving License) |
| 8 | 1 PROCESSING FEE CHEQUE | 1 Processing Fee Cheque |
| PROPERTY DOCUMENTS | PROPERTY DOCUMENTS | |
| 9 | SALE DEED(2 SETS OF XEROX) | SALE DEED(2 SETS OF XEROX) |
| 10 | ESTIMATION COPY(2 SETS OF XEROX) | ESTIMATION COPY(2 SETS OF XEROX) |
| 11 | 15 YRS LINK DOCUMENTS | 15 YRS LINK DOCUMENTS |
| 12 | SANCTION PLAN (2 SETS OF XEROX) | SANCTION PLAN (2 SETS OF XEROX) |
| 13 | Latest Property Tax Receipt | Latest Property Tax Receipt |
| 14 | LATEST EC | LATEST EC |
| IF ANY LOANS, REQUIRED TRACK RECORD | IF ANY LOANS, REQUIRED TRACK RECORD | |
| BT(BALANCE TRANSFER) LOAN | ||
| SALARIED CHECK LIST | Self Employee Check List | |
| 1 | 3 MONTHS PAYSLIPS | 3 ITRs full set |
| 2 | 6 MONTHS BANK STATEMENT | 1 Year Bank Statement from c/a and s/b |
| 3 | 1 YEAR FORM 16 | |
| 4 | 1 Photo (applicant and co-applicant) | 1 Photo (applicant and co-applicant) |
| 5 | COMPANY ID PROOF Copy | |
| 6 | Id Proof (PAN CARD and Aadhaar) BOTH | Id Proof (PAN CARD and Aadhaar) BOTH |
| 7 | Address Proof (Election id or Gas bill or electricity bill or passport or Driving License) | Address Proof (Election id or Gas bill or electricity bill or passport or Driving License) |
| 8 | 1 PROCESSING FEE CHEQUE | 1 Processing Fee Cheque |
| PROPERTY DOCUMENTS | PROPERTY DOCUMENTS | |
| 9 | SALE DEED(2 SETS OF XEROX) | SALE DEED(2 SETS OF XEROX) |
| 10 | 15 YRS LINK DOCUMENTS | 15 YRS LINK DOCUMENTS |
| 11 | SANCTION PLAN (2 SETS OF XEROX) | SANCTION PLAN (2 SETS OF XEROX) |
| 12 | Latest Property Tax Receipt | Latest Property Tax Receipt |
| 13 | LATEST EC | LATEST EC |
| 14 | LOAN TRACK | LOAN TRACK |
| 15 | OUTSTANDING LETTER | OUTSTANDING LETTER |
| 16 | LIST OF DOCUMENTS from Existing Bank | LIST OF DOCUMENTS from Existing Bank |
| IF ANY LOANS, REQUIRED TRACK RECORD | IF ANY LOANS, REQUIRED TRACK RECORD | |
| TOP UP LOAN | ||
| SALARIED CHECK LIST | Self Employee Check List | |
| 1 | 3 MONTHS PAYSLIPS | 3 ITRs full set |
| 2 | 6 MONTHS Salary a/c BANK STATEMENT | 1 Year Bank Statement from c/a and s/b |
| 3 | 2 YEAR FORM 16 | |
| 4 | 1 Photo (applicant and co-applicant) | 1 Photo (applicant and co-applicant) |
| 5 | COMPANY ID PROOF Copy | |
| 6 | Id Proof (PAN CARD and Aadhaar) BOTH | Id Proof (PAN CARD and Aadhaar) BOTH |
| 7 | Address Proof (Election id or Gas bill or electricity bill or passport or Driving License) | Address Proof (Election id or Gas bill or electricity bill or passport or Driving License) |
| 8 | 1 PROCESSING FEE CHEQUE | 1 Processing Fee Cheque |
| PROPERTY DOCUMENTS | PROPERTY DOCUMENTS | |
| 9 | SALE DEED (2 SETS OF XEROX) | SALE DEED (2 SETS OF XEROX) |
| 10 | SANCTION PLAN | SANCTION PLAN |
| IF ANY LOANS, REQUIRED TRACK RECORD | IF ANY LOANS, REQUIRED TRACK RECORD | |