Low credit score blues? We offer expert guidance and alternative solutions.
Down payment dilemma? Explore flexible options and unlock your dream home.
Confused by paperwork? Our dedicated team demystifies the process.
EMI stress? Benefit from personalized financial planning and budgeting tools.
Prepayment penalties got you down? We offer flexible repayment options.
Switching loans a hassle? We simplify the process with expert assistance.
Property issues got you worried? Our network of partners provides comprehensive support.
Are legal complexities daunting? We offer guidance and connect you with reliable legal counsel.
Your Guide to Home Ownership

At Homesfy Realty Ltd., we understand that buying a home is one of the most significant decisions you'll ever make. That's why we're dedicated to providing you with the resources and support you need to navigate the home loan process confidently. Our comprehensive Home Loan Service is designed to be your one-stop shop for home financing, empowering you to make informed decisions and secure the perfect loan for your dream home.

What is a Home Loan?

A home loan is a secured loan provided by banks and financial institutions to help you purchase a residential property. This can include ready-to-move-in houses, apartments, or even plots of land for construction. Home loans offer a flexible way to finance your dream home, spreading the cost over a manageable period through monthly installments.

Top Home Loan Schemes & Offers:

Navigating the vast landscape of home loan options can be overwhelming. Homesfy Realty Ltd. is here to simplify the process by highlighting some of the most attractive schemes and offers currently available:

Kotak Mahindra Bank

Offers low-interest rates starting from 8.70% p.a. for salaried and 8.75% p.a. for self-employed individuals, along with zero prepayment charges and balance transfer options with top-up loans.

Canara Bank Housing Loan

Ideal for women borrowers, offering attractive rates starting from 9.25% p.a. and a maximum repayment tenure of 30 years.

Axis Bank Home Loan

Best for salaried employees, with interest rates starting from 8.70% p.a., loan amounts up to Rs.5 crore, and flexible repayment options.

HDFC Reach Home Loans

Tailored for self-employed professionals, featuring attractive rates starting from 8.50% to 9.15% p.a. and minimal documentation requirements.

SBI Privilege Home Loan

Designed for government employees, offering low-interest rates starting from 8.60% to 9.65% p.a. and zero processing fees.

PNB HFL Plot Loan

Perfect for those planning to construct their own home, with attractive rates starting from 9.50% p.a. and a flexible loan tenure of up to 30 years.

SBI Realty Home Loan

Best for land purchase, offering low-interest rates starting from 8.60% p.a. and a maximum tenure of ten years.

SBI Smart Home Top-Up Loan

Ideal for accessing additional funds, with interest rates starting from 9.55% p.a. and an overdraft facility for loans above Rs.20 lakh.

Home Loan EMI Calculator

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Home Loans Types & Purposes

Buying a home might be your biggest dream, but choosing the right loan can feel like navigating a confusing maze. Worry not, for this guide unveils the diverse offerings in the home loan market, empowering you to find the perfect fit for your needs!

Home Loan

Your go-to option for purchasing a pre-built or under-construction property. With RBI guidelines in place, you can secure up to 90% financing from lenders.

Property Loan

For aspiring builders! This loan helps you acquire a plot of land or build your dream home. Disbursements occur in stages, closely tied to the construction progress.

Plot Loan

Unlike home loans for built properties, plot loans solely finance land acquisition. No construction is involved, and this loan becomes your stepping stone to building your vision.

Home Renovation Loan

Breathe new life into your existing home! This loan caters to renovation and repair needs, with shorter repayment tenures due to typically lower loan amounts compared to full construction loans.

Home Construction Loan

Build your haven with this loan allocated explicitly for construction purposes. Owning a plot and concrete construction plans are prerequisites for securing this loan.

Bridge Loan

Bridging the gap between selling your existing home and buying your new one? This loan acts as your temporary financial bridge, covering the difference until the sale proceeds arrive.

Home Extension Loan

Craving additional space? This loan is tailor-made for expanding your existing home. Funding covers up to 90% of the estimated construction cost, differentiating it from renovation loans focused on internal upgrades.

Step-up Loan

Designed for young professionals at the initial stages of their careers, this loan offers lower initial EMIs that gradually increase over time, aligning with your growing income.

Interest-Saver Loan

Functioning like a loan overdraft facility, this option directly links your home loan account to your bank. Any extra deposits above the EMI are prepayments, reducing your overall interest burden.

Home Loan
Property Loan
Plot Loan
Home Renovation Loan
Home Construction Loan
Bridge Loan
Home Extension Loan
Step-up Loan
Interest-Saver Loan

Remember: Each loan type caters to specific needs and comes with its own terms and conditions. Carefully assess your goals, financial situation, and repayment abilities before making your choice. With this knowledge at your fingertips, stepping into the home loan maze feels less daunting, right? Choose wisely, and unlock the door to your dream home with confidence!

Legal complexities daunting? We offer guidance and connect you with reliable legal counsel.
Home Loan Eligibility:

Before diving into specific loan options, it's crucial to understand your eligibility. Here are the key criteria:

  • Age: Minimum 18 years and Maximum 70 years
  • Resident Type: Resident Indian, NRI, or PIO
  • Employment: Salaried, Self-employed
  • Net Annual Income: At least Rs.5-6 lakh depending on employment type
  • Residence: Permanent residence or rented residence for at least a year
  • Credit Score: Good credit score (750 or above)
Low credit score blues?
We offer expert guidance and alternative solutions
What Documents are Required For Home Loan?

To streamline your loan application process, ensure you have the necessary documents readily available:

  • dentity Proof: Passport, Aadhaar Card, Driving License, Voter ID Card
  • Residence Proof: Electricity bill, water bill, telephone bill
  • Income Proof: Salary slips for salaried individuals, Income Tax Returns for self-employed individuals
  • Property Papers: Agreement of Sale, Occupancy Certificate, Builder agreement (if applicable)
Type of Applicant Identity Proof(Any One) Residence Proof (Any One) Income Proof Other Documents
Salaried Passport/Aadhaar Card/Driving License Electricity Bill/Water Bill/Telephone Bill Salary Slips (3 months), Form 16/IT Returns (2 years) Employment ID Card, Bank Account Statements (6 months)
Self-employed Passport/Aadhaar Card/Driving License Electricity Bill/Water Bill/Telephone Bill IT Returns (3 years), Balance Sheet & P&L (3 years), Business License Business Address Proof, TDS Certificate
NRI Passport Passport/Electricity Bill/Water Bill/Telephone Bill Salary Slips (3 months)/Work Permit & Contract, Bank Statements (6 months) Employer ID Card (original), PIO Card (if applicable), Completion Form (3 photos)
Notes:
  • Documents may vary slightly depending on lender and loan type.
  • Attestation may be required for copies and NRI documents.
  • Property papers depend on property status (ready-to-move-in vs. under construction)
  • This is a simplified guide; consult your lender for specific requirements.
I hope this table format makes the document requirements clearer and easier to navigate!
Confused by paperwork?
Our dedicated team demystifies the process.

What are the Home Loan Additional Fees & Charges?

Be aware of potential fees associated with your loan:

  • Processing Fee: One-time fee paid to the lender after loan approval. 
  • Prepayment Charges: Fee levied if you repay the loan before the end of the tenure.
  • Conversion Fees: Applicable if you switch to a different loan scheme.
  • Default Charges: Penalty for late or missed payments.
Why Did Your Home Loan Get Rejected?

Fear not! Homesfy Realty is here to guide you every step of the way, helping you avoid the most common pitfalls and secure the perfect loan for your dream home. Do’s and Don’t before taking a home loan:

Things To Consider Do Not Do
Blindly Trusting Paperwork Don't just sign! Every clause, every fine print detail, deserves your scrutiny. Understand your loan inside-out before committing.
Interest Rate Roulette Don't settle for the first offer - find the best fit for your budget and goals. Comparing interest rates across lenders is crucial.
Hidden Fee Hunters Don’t miss Prepayment penalties, processing fees, and other charges Be vigilant and ask about all potential costs upfront.
EMI Evasion Don't let EMIs become a burden - plan wisely and prioritise them. Regular, timely payments are key.
Impulsive Borrowing Don't get swept away by the excitement of homeownership. Only borrow what you can comfortably manage. Assess your financial situation realistically before applying.
Credit Score Conundrum Don’t let you credit score suffer Invest in improving your credit rating before entering the loan market.
Tenure Tightrope Don't be tempted by longer tenures that mask higher overall costs.  Analyze your budget and repayment capacity before making a decision.
Document Disarray Incomplete or inaccurate paperwork can stall your application. Ensure you have all the necessary documents in order and submitted correctly.
Job-Hopping Jitters Frequent job changes might raise red flags for lenders. Stable employment is key to loan approval.
Loan Juggling Act Avoid unnecessary debt if possible. Be sure your existing commitments won't strain your new home loan.
Here are the steps you can take when your home loan application faces rejection:
  • Improve your credit score: Your credit score is a major factor in determining your eligibility for a home loan. If you have a poor credit score, it's important to take steps to improve it before you reapply. You can do this by paying your bills on time, reducing your debt, and checking your credit report for errors.
  • Reduce the loan amount: The amount of money you borrow will affect your monthly payments and your overall debt burden. If your loan application was rejected, it may be because you applied for too much money. Consider reducing the loan amount and increasing your down payment.
  • Pay off other debts: If you have a lot of other debts, it may make it difficult to qualify for a home loan. Try to pay off some of your other debts before you reapply.
  • Get a co-applicant: Adding a co-applicant with good credit can improve your chances of getting approved for a home loan. Just make sure you choose someone you trust and who can afford to make the monthly payments if you're unable to.
  • A different lender: Not all lenders have the same requirements. If you were rejected by one lender, don't give up. Shop around and compare rates from different lenders
  • Your documents in order: Make sure all of your documentation is in order before you reapply. This includes your tax returns, pay stubs, and bank statements.
  • A few months: If your application was rejected because of recent job changes or other temporary circumstances, you may want to wait a few months before you reapply. This will give you time to improve your financial situation.
  • Professional help: If you're not sure what you need to do to get your home loan application approved, you can talk to a financial advisor or mortgage broker. They can help you assess your situation and create a plan to improve your chances of getting approved.

Here are some additional tips for getting your home loan application approved:

  • Get pre-approved: Getting pre-approved for a home loan before you start shopping for a house can give you an idea of how much you can afford to borrow and can make your offer more attractive to sellers.
  • Shop around: Don't just accept the first interest rate you're offered. Compare rates from different lenders to find the best deal.
  • Read the fine print: Make sure you understand all of the terms and conditions of your loan before you sign anything.
  • Make sure you can afford the payments: Don't borrow more money than you can afford to repay. Make sure you factor in your other expenses when you're calculating your monthly payments.

We hope this helps

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