A home loan is the bridge to achieving your dream of owning a home. Whether buying a new house, upgrading your current one, building on your land, or purchasing a plot, a home loan makes it possible with flexible tenures, affordable interest rates, and tax benefits.

Home loans offer repayment options from 5 to 30 years, allowing you to tailor the loan to your financial capacity. Nationalized banks typically provide up to 85% of the property value, while NBFCs may offer up to 150%. Interest rates, influenced by RBI regulations, vary between institutions and are generally floating after an initial fixed period.

Prepayment options are penalty-free when using personal funds, though transferring loans to another institution may incur charges. Additional features like partial payments and EMI adjustments ensure flexibility throughout your loan journey.

# Identity Proof (Any One of the Following):

• Aadhaar Card
• PAN Card
• Voter ID
• Passport
• Driving License

# Address Proof (Any One of the Following):

• Aadhaar Card
• Passport
• Utility Bills (Electricity/Water/Gas, not older than 3 months)
• Rent Agreement (if applicable)

# Income Proof:

For Salaried Individuals:

• Latest Salary Slips (2-3 months)
• Form 16 or Income Tax Return (ITR)
• Bank Statements (Last 6 months)

For Self-Employed Individuals:

• Income Tax Returns (Last 2-3 years)
• Bank Statements (Last 6 months)
• Business Registration Certificate/Proof

# Employment Proof (For Salaried Individuals):

• Employee ID Card
• Offer Letter or Appointment Letter

# Property Documents:

• Sale Agreement/Allotment Letter
• Title Deeds of the Property
• Property Tax Receipts (if applicable)
• Approved Building Plan or Layout Plan

# CIBIL Credit Report:

• The bank may access your credit report directly or require you to submit one.

# Passport-Sized Photographs

• 3-5 passport sized photographs

# Guarantor Documents (If Required):

• Identity Proof and Address Proof of Guarantor

# Additional Documents (If Applicable):

• Proof of Down Payment (Bank Statement or Receipt)
• No Objection Certificate (NOC) from the Builder or Society
• Occupancy Certificate (for ready-to-move-in properties)

1. Age Limit

• Minimum Age: 18-21 years (varies by bank).
• Maximum Age: 60 years for salaried individuals or 65-70 years for self-employed individuals (at loan maturity).

2. Income Criteria

• For Salaried Individuals:
  • Minimum monthly income: ₹10,000 to ₹25,000 (varies based on bank and city).
  • Total EMI obligations (including the new loan) should not exceed 40%-50% of net monthly income.
• For Self-Employed Individuals:
  • Minimum annual income: ₹2-3 lakhs (varies by bank).
  • Income proof through ITR (last 2-3 years) and business stability is mandatory.

3. Employment Stability

• Salaried Individuals:
  • Minimum 1-2 years of continuous employment.
  • Must be working in a reputable private organization, PSU, or government sector.
• Self-Employed Individuals:
  • Minimum 2-3 years of stable business operations.

4. Loan Amount Eligibility

• Banks usually offer up to:
  • 75%-90% of the property’s agreement value for ready-to-move-in properties.
  • 50%-75% of the market value for under-construction or older properties.
• The remaining cost must be covered as a down payment by the borrower.

5. CIBIL Score and Credit History

• A good CIBIL score (750 or above) increases the chances of loan approval.
• A lower score may result in higher interest rates or loan rejection.

6. Co-Applicant Option

• Co-applicants (spouse, parents, or siblings) can enhance loan eligibility by combining incomes.

7. Property Type

• The property must meet the bank’s technical and legal requirements, including ownership clarity, approved building plans, and adherence to local authority regulations.

8. Other Criteria

• Indian citizenship or valid residency proof is mandatory.
• Additional factors include savings history, existing liabilities, and repayment capacity.

• Please ensure that all required documents are self-attested by each individual separately.
• Kindly submit all your documents in hardcopy format together.
• Additionally, please email all the soft copies of the documents in PDF format to contact@sathyampariwar.com.

1. Multiple Quotes, Best Choice:Seek quotes from various vendors and banks. Carefully analyze all options to make the best selection.
2. Listen to All Voices: Pay attention to the perspectives of each vendor. Unique insights can uncover valuable information.
3. Transparency Pays Off: Be open about your full financial background. Honesty will help you find tailored solutions.
4. Credit Story Matters: Discuss your credit history with vendors to ensure accurate results and minimize the risk of rejection.
5. Politeness Prevails: Maintain a respectful attitude throughout. Building positive relationships is an investment in the long term.
6. Prepare Ahead: Gather all documents and security cheques before applying. This proactive approach will save you time and effort.
7. Stay Connected: Keep in touch with vendors to stay updated on the status of your application.
8. Track Application Progress: Use your application number to track the progress of your loan application on the bank's website.
9. Cost Clarity: Understand all expenses related to your home loan upfront, ensuring no hidden costs.
10. Mortgage Insight: Determine if registering a mortgage is mandatory. Avoid registration if possible, as it may reduce costs.
11. Insurance Consideration: Check whether loan protector, property, and life insurance are required. Be aware of insurance policies tied to your loan.
12. Project Partnerships: Opt for banks or NBFCs that have pre-approved projects. This helps avoid complications related to property verification.