Home Loan availability and eligibility criteria


Home loans are available for an amount between Rs. 1 lakh to 85% of the market value of the home,
Home loans are available for a repayment time from 1 year to 20 years, 15 years in the case of NRIs.
Home loan can be obtained by any public servant, government employee, self-employed person, or businessman.
To obtain a home loan in India the person should be an Indian national only.
The availability varies with purchase of an already built property, to transfer your existing home loan from another lender, or to buy a piece of land and construct a home on it.

Eligibility Criteria: -

Age of applicant should not be less than 21 years.
Age of applicant at loan maturity should not be more than 60 years.
Net Monthly Income should be at least Rs. 1, 50,000 per year.
Income should be proved stable.
If your spouse is an earning hand, you can make him/her co-applicant. This will increase your eligibility.

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