What is a home loan ?

A home loan is a secured loan that helps individuals purchase, construct, or renovate a house. The property itself acts as collateral, and the borrower repays the loan amount in monthly EMIs over a fixed period.

Who is eligible for a home loan ?

Eligibility depends on factors such as age, income, employment type, credit score, and repayment capacity. Generally, applicants between 21 and 65 years of age with a stable income source—whether salaried, self-employed, or business owners—can apply.

How much loan can I get?

The loan amount depends on your income, credit profile, and property value. Most lenders offer up to 80–90% of the property’s value, while the remaining amount is paid as a down payment by the applicant.

What is the interest rate?

Home loan interest rates vary based on the lender, applicant’s credit score, income level, loan amount, and tenure. Since home loans are secured, they generally have lower interest rates compared to unsecured loans.

How long is the repayment period?

Home loan repayment tenure is flexible and can range from 5 years up to 30 years. Longer tenures reduce EMI amounts but may increase the total interest paid over time.

What documents are required?

Commonly required documents include:

• Identity proof (Aadhaar / PAN)

• Address proof

• Income proof (salary slips / ITR)

• Bank statements (last 6 months)

• Property-related documents