How to apply for a Home Loan?
  • Step 1: Approach a Housing Finance Company with the latest salary slip and TDS Form 16 of the last two financial years of yourself and your co-applicant. The loan officer will informally tell you the amount of loan you are eligible for, the areas in which they finance flats and the terms of the same. Collect a loan application form and confirm the needed documents (mainly proof of income). Visit more than one company since you are likely to get better terms / larger loan amount if you shop for the best deal.
  • Step 2: At your chosen HFC, submit the duly filled loan application, along with the requested documents and an application fee (around 1%). They will then interview you on the same. After conducting an appraisal of your application, the HFC will give an in-principle sanction of your loan.
  • Step 3: You now have to submit your property documents, which should show a clear title. The HFC will check these and levy an administrative fee (around 1%). It will then disburse the loan, either fully or in installments, directly to the builder/ seller of the flat.
How much housing loan can one get?
What tax benefits are available in regards to the housing loans?
What is the reducing balance method of interest payment?
What is floating interest rate?
What is fixed interest rate?
What are the documents required for the Home Loan?
Project Documents
Individual Documents | Salaried
Individual Documents | Self Employed