Home Loan Availability:-
- 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.