Home Loan

We have tie-up with a large number of banks like HDFC, ICICI, LIC, PNB Housing, AXIS, CITI, DHFL, Indiabulls, SBI,  etc.
In Huda Affordable Housing Scheme flats the buyer can get 85% -90% of total apartment cost as home loan.

Eligibility Criteria for Home Loans:

Eligibility criteria differ for each lender.
Approvals are based on borrowers’ incomes, credit profiles and existing relationships with the bank

Age :- Minimum: 21 yrs. Maximum: 65 yrs. (depending on type of employment)

Minimum Net Annual Income :- Rs. 5 – 7 lakhs depending on type of employment, EMIs offered up to 50% of net income, on average

Type of Employment:- Self-employed or SalariedStatus of EmploymentRegular; at least 1 yrs. in current job/business/profession.; at least 2 yrs. of prior employment

Type of residence:- Owned/ Rented

Status of Residence:- At least 1 yr. at current place of stay

Credit Rating:- Good rating as per recognised credit bureau

Type of property being purchased:- Affects loan amount eligibility

Home Loan Documentation:
Supporting documents vary according to bank requirements:

• Signed application, photographs affixed
• Identity Proof: Passport/ Voter ID/ PAN Card
• Residence Proof: Passport/ Voter ID/ Driving License/ Water Bill/ Electricity Bill/ Lease agreement
• Income Proof:
  • Salaried individuals – Latest Salary Slips (3 months)/ Current Salary Certificate
  • Self-employed persons – Latest bank Statements (3 – 6 months)/ Audited financial statements
• Tax Proof:
  • Salaried individuals – Latest Form 16
  • Self-employed persons – Latest ITR Form
• Employment Proof:
  • Salaried individual – Employment certificate
  • Self-employed persons – Legal documents pertaining to establishment of the business/profession e.g. MOA/ Partnership Deed etc.
• Property Documents
• Processing Fee Cheque
• Co-applicant’s (if any) documentation

Ways to increase eligibility:

• Maintain a good credit score – healthy repayment habits on credit cards and existing loans
• Display stability in income, employment, residence
• Include co-applicants to supplement income
• Provide a guarantor to improve credibility
• Repay existing loans
• Buy top-tier properties/ buy from reputed builders
• Buy a new property vs. old one