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Home Loan

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About Home Loan

Whether you are searching to purchase a land or property, construct your home, remodel and renovate your home, Corprise Financial Services offers you our valued services to help meet your housing loan requirements. We have our simple eligibility criteria and minimum documents requirement to ensure that it is easy for you to apply.

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Documents Required for Home Loan

    Personal Documents
  • 1. Proprietor Pan, Aadhar Card
  • 2. 1 Copy Photo
  • 3. Current Electricity Bill
  • 4. Salary Certificate (original) from employer for the salaried individuals
  • 5. Form 16/IT Returns for the past 2 financial years for the salaried individuals
  • 6. Last 3 years ITR
    Property Documents
  • 1. Deed of Sale or Sale Agreement or Share Certificate (original) in case of a cooperative society.
  • 2. Receipts for taxes paid for Building and Land, certificate of possession, and certified sketch of the location of property from revenue authorities.
  • 3. Allotment Letter from Society/Housing Board/Private builder.
  • 4. Receipts of advance payments for flat purchase.
  • 5. Certificate of Non encumbrance encompassing the last 12 years/30 years.
  • 6. Receipt of land tax payment and certificate of possession issued by revenue authorities.
  • 7. Permission letter from Appropriate Authority.
  • 8. Approved building plan (showing floor plan for flat purchase).
  • 9. Original No Objection Certificate issued under the ULC Act, 1976.
  • 10. Copy of relative order if agricultural land is being converted.
  • 11. No objection certificate (NOC) from Builder/Housing Society.
  • 12. Detailed estimate of construction cost.
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Home Loan Products

Loan for New Home

If you are looking to purchase a new house, you can apply online and check your eligibility and avail home loans with easy EMI options.

Loan for Construction of Property

Construction of Property: If want to build your house, you can avail our home loans. We provide competitive interest rates with flexible repay tenure option.

Loan for Purchase Land

You can avail loans for purchasing land.

Loan for Home Renovation and Repair

Home Renovation/Repair: Home Loans are typically for purchase of new home, construction of home, purchase of land, but we cater to renovation and repairmen of home as well.

Get financing for whatever you need now

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Why Choose Corprise for Home Loan

    Features of Home Loan
  • Home Loans for purchase of an apartment, row house, bungalow
  • Home Loans for purchase of properties from Development Authorities
  • Loans for construction of property
  • Lower Interest rates
  • No hidden charges
  • Repayment tenure upto 30 years

Home Loan - Eligibility

Any salaried, self-employed or professional Public and Privat companies, Government sector employees including Public Sector is eligible for a personal loan.

Age

Maximum age of applicant at loan maturity: 60 years

Income

Minimum Net Monthly Income: Rs 15,000

Credit Rating

Applicant should have the bank specified credit score.

FAQ

Home loan is the amount borrowed from a bank or a housing finance institution on interest for buying / constructing / upgrading a residential property.

List of papers or documents is required to get personal loan are as follows-

  • - Employer Identity Card
  • - Completed loan application form duly filled in affixed with 3 Passport size photographs
  • - Proof of Identity PAN/ Passport/ Driver’s License/ Voter ID card
  • - Proof of Residence: Recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Piped Gas Bill or copy of Passport/ Driving    License/ Aadhar Card
  • - Permission for construction (where applicable)
  • - Registered Agreement for Sale /Allotment Letter/Stamped Agreement for Sale
  • - Occupancy Certificate (in case of ready to move property)
  • - Approved Plan copy (Xerox Blueprint) & Registered Development Agreement of the builder, Conveyance Deed (For New    Property)
  • - Payment Receipts or bank A/C statement showing all the payments made to Builder/Seller
  • - Last 5 months Bank Account Statements for all Bank Accounts held by the applicant/s
  • - If any previous loan from other Banks/Lenders, then Loan A/C statement for last 1 year
  • - Income Proof for Salaried Applicant/ Co-applicant/ Guarantor:
  • - Salary Slip of last 4 months
  • - Copy of Form 16 for last 2 years or copy of IT Returns for last 2 financial years, acknowledged by IT Dept.
  • - Income Proof for Non-Salaried Applicant/ Co-applicant/ Guarantor:
  • - Business address proof
  • - Income Tax returns for last 3 years
  • - Balance Sheet & Profit & Loss A/c for last 3 years
  • - Business License Details
  • - TDS Certificate (Form 16A, if applicable)
  • - Certificate of Qualification (for C.A./ Doctor and other professionals)

As home loans involve a large sum of money, the tenure generally varies between 5 to 30 years.

On an average, loans are disbursed within 4-10 days after satisfactory and complete documentation and completion of all the required formalities.

It is generally beneficial to go for a home loan as it helps you in availing tax benefits. However, please consult a tax advisor to discuss the pros and cons.

According to RBI guidelines, no lender is allowed to offer 100% home financing. You need to make a down payment of 10-20% of the purchase price.

The factors that affect your eligibility to avail home loan are as follows:

  • Credit Score
  • Monthly salary/income
  • Current Financial Debts
  • Property to be purchased
  • Employment status
  • Age of the applicant

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To apply for your required loan scheme, provide the necessary details in the application form below.

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