Any Indian Resident, Non-resident Indian or Person of
Indian Origin can apply for a home loan if the are 21
years of age at the origin of the loan and 65 years or
below at loan maturity. Housing Finance Companies (HFCs)
usually give home loans for properties located in india
to people who are employed or self employed, with a
regular source of income.
Step 1: You could approach any
leading Housing Finance Company with the latest salary slip
and TDS Form 16 of the last three financial years of
yourself and your co-applicant. The office would inform you
about your loan eligibility. You can collect the loan
application form and confirm the required documents for the
Step 2: Submit the loan
application, along with the required documents and
application fee (1% approx). After a successful interview
you will get a in principle sanction of your loan.
Step 3: You have to submit your
property documents which you can get from the builder. The
Finance company will check levy an administrative fee and
will then disburse the loan completely or in installments.
directly to the builder or seller of the flat.