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Home Loan

Home Loan - Housing Loans - all major bank home loans India

Whether you want to buy a new home or a property, you will need to choose the home loan that's right for you. Let loanpehome.com help you save time, strain and cash with our easy-to-access home loan options. Choose from the Home Loan and a Home Equity Loan or just compare your loan to ensure you've got the best deal possible. loanpehome.com can guide you through the process of making the largest purchase of your life with complete self-confidence.

Perfect Home in Budget:-

The first thing you’ll always do while buying a house/property is to think on your budget. You will then think on the size of the house and family size fitness and where. Generally flats/plots are sold on the basis of built up area. Area is generally measured in terms of Square Foot or Square Feet.

Documents required:-

Every loan provider will surely ask you these and yes these are required to get your loan approved. Without these your loan will not be processed

  • Age Proof
  • Address Proof
  • Income Proof of the applicant & co-applicant
  • Last 6 months bank A/C statement
  • Passport size photograph of the applicant & co-applicant

Salaried person:-

  • Employment certificate from the employer,
  • Copies of pay slips for last few months and TDS certificate
  • Latest Form 16 issued by employer Bank statements

Self-employed person:-

  • Copy of audited financial statements for the last 2 years
  • Copy of partnership deed if it is a partnership firm or copy of memorandum of association and articles of association if it is a company
  • Profit and loss account for the last few years
  • Income tax assessment order

Home Loan Process & various steps involved

There are different steps involved in getting a Home loan. After choosing your property and filling up the loan application, following are the various steps getting Home Loan:

The first step involved in the process is to find your property which is followed by the verification of property documents, post that the documents are examined & simultaneously you can start searching for the lender who can offer the BEST Home Loan Deal after checking your eligibility criteria.

Know the Home Loan Eligibility: Banks offer the loan amount only after checking your profile & based on various eligibility criteria’s like age, income & salary banks lend you the money.

Select the Best Home Loan after evaluation: Comparing home loan interest rates is the primary feature in the home loan selection, however other fees & charges like Application fees, processing fees, legal charges should not be neglected when comparing various loan offers. To check the interest rates & other charges incurred by various banks, Deal4Loans has brought in a Home Loan Comparison Chart across various Banks.

Applying for the Loan: After you have selected your lender, you have to fill in the application form wherein the lender requires complete information about your financial assets & liabilities; other personal & professional details together with the property details & its costs.

Documentation & Verification Process: You are required to submit the necessary documents to the bank which will be verified together with the details in the application.

Credit & default check: Bank checks out the borrower’s loan eligibility (through repayment capacity) & the amount of loan is confirmed. The borrower’s repayment capacity is reached which is based on the income, salary, age, experience & nature of business etc. Bank also checks credit history through the Cibil Score which plays a crucial role in deciding & approving your loan application. Low Credit Score implies that the bank upfront rejects your application on the basis of earlier credit defaults; on the other hand high credit score gives a green signal to your application.

Bank sanctions Loan & Offer letter to the borrower: After the credit appraisal of the borrower bank decides the final amount & sanctions the loan, the bank further sends an offer letter to the borrower which constitutes the details like rate of interest, loan tenure & repayment options etc.

The borrower needs to send an acceptance copy to the bank after the borrower agrees with the terms & conditions in the offer letter.

Bank checks the legal documents: The bank further asks the legal documents of property from the borrower to check its authenticity so as to keep them as a security for the loan amount given. The next step involved is the valuation of the property by the bank which determines the loan amount sanctioned by the bank

Signing of agreement & the loan disbursal: The borrower signs the loan agreement & the bank disburses the loan amount.

We are here to provides HOME LOAN services to all over India specifically in Metropolitan cities like Hyderabad, Pune, Bangalore, Chennai, New Delhi, Noida, Gurgaon, Thane, Nasik ,Mumbai, Navi Mumbai, Kolkata, Ghaziabad, Indore, Chandigarh, Indore, Kochin, Surat, Vadodara and every main cities in India.

HOME LOAN INTEREST RATE

Bank name Interest Type Processing Fee
0-30 lakh 30-75 lakh 75-150 lakh
SBI Bank Floating 0.5% of loan amount 10.15% 10.30% 10.30%
LIC Housing Floating depending on the profile 10.35% 10.35 % 10.85%
Axis Bank Floating 0.5% - 1% + ST 10.25% 10.50% 11%
DHFL Floating 1%+ST(Service tax) 10.75% 11.50% 12%
HDFC Bank Fixed 1% -1.5%+ST 10.25% 10.25% 10.50%
ICICI Bank Fixed 1% -1.5%+ST 10.25% 10.25% 10.50%
IDBI Bank Floating 1% and Rs.2500 + St 10.25% 10.50% 10.50%
Standard Chartered Floating Rs.7500/- + ST 10.10% 10.25% 10.50%
Citi bank Floating 1-1.5%+ST 10.50% 10.50% 10.50%
 
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