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"Home Loan" – A Gateway To My Dream Home

Willing to buy your own house? Looking for an apartment in your desired location? Struggling hard to make your own home? Now you need not worry anymore when LOANQUBES.com is there to become your gateway to your dream home. Yes, with the Home Loan Facility you can fulfill all your dreams of buying a new home.

What Is A Home Loan?

A loan facility which is offered to customers for meeting housing needs such as purchase of a new home, construction of a new home, purchase of land or plot for building a house is known as “HOME LOAN”.

Home Loan also known as Housing Loan, is a lump sum amount of money borrowed from financial institution to buy a house. As per the interest rate charged by the bank, consumer has to repay the loan amount in the form of EMIs for the desired tenure.

Having a proper house is a basic necessity of people nowadays. Just like food & clothing, having a house is your right and is a basic need. To own a house is one of the main sign of success among middle class folk these days. The rising price of property and expensive construction charges make it difficult to buy your own house. But with the option of Home Loan your problems are easily solved.

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Advantages Of Choosing A Home Loan

  •   Low Interest Rates – The lending institution offers home loan at reasonable and attractive interest rates, to make it affordable for you.
  •   Loan Tenure – A maximum of 20 years loan tenure is offered for availing home loan.
  •    Huge Loan Amount – There is a limit in loan amount but it ranges between Rs. 2 lakhs to Rs. 200 Lakhs ( depends on applicant’s eligibility, repayment capacity and income)
  •   Tax Benefits – The applicants can avail tax benefits. Under Section 80CCE of the Income Tax Act, 1961 repayment of principal up to Rs 100,000 on home loan is subject for tax deduction. Once all prescribed conditions are met, this benefit can be availed.
  •   Capital Appreciation – The value of your property purchased or invested will always increase. Thus appreciation for your investment can be seen within few years.
  •   Great opportunity for low-class and middle-class – Home loan creates an opportunity for low-class and middle-class community to have a home of their own.

Categories Of Home Loans

The Home Loan opens doors for new avenues. When it comes to Home Loans there comes various categories for the same:

  •   Home Purchase Loan – These are designed for consumers who are looking to purchase a house or flat. The loan is provided at both fixed and floating interests. This Loan is used when the property is purchased from another owner.
  •   Home Construction Loan –These are designed for consumers who are seeking to construct their own house or property for the first time. In this case the borrower must be pre-planned with the cost amount that will incur and apply for the loan accordingly.
  •   Land Purchase/Plot Loans – These are specifically designed to meet the needs of consumer who need to buy a piece of land or plot. It is provided for both investment purpose and also residential or housing purpose.
  •   Home Improvement Loans – These loans are availed by consumers who are willing to renovate or make repairs to their current home. It may include painting work, repairing, electrical and plumbing work, etc.
  •   Home Conversion Loans – These loans are designed for consumers who wish to relocate into another home with the existing loan. There is no need of paying loan for the previous home.
  •   Home Extension Loans – These loans are offered to consumers who wish to renovate/extend their existing house/property. This includes modification in the infrastructure of the house.
  •   Bridged Loans – These are taken by owners of a residential property. It helps in building a space between an old house and a newly purchased plot.
  •   Stamp Duty Loans – In this case, stamp duty is paid with the price of the house. A specific amount of registration fee must also be paid, if the property’s value comes to ten lakhs.



Is Home Loan The Best Choice For Me?

If you are facing cash crunch in fulfilling your dreams then where will you go? If you are worried or anxious because you don’t possess your own house then what next? The solution to all your queries is just 2 words i.e. Home Loan.

It takes whole lifespan of an individual for making his own house or purchasing his dream home, but through easy and fast process of housing loan one can easily buy his own house and fulfill his dream.

A Home Loan is a secured loan with flexible repayment options and interest rates starting from 8.8%. It is a quick and hassle free process. So if you are planning for your dream home the best option for you is Home Loan.

Am I Eligible For Home Loan?

Home Loans are easily provided by all the banking institutions once you meet up with the necessary requirements and needs. You can easily apply online for home loan.

The eligibility criteria to get an instant approval online for Home Loans are mentioned in the table below. Please go through before applying online:

S.NoFactorCondition
1AgeAge limit to apply 18 years to 70 years
2Employment TypeEmployment Type
3Credit Score750 or above is considered a good credit score
4Annual IncomeRs.500,000 – Rs.700,000 depending on the type of employment
5Status of ResidenceAt least 1 year at the current address

What Documents Are Required To Apply For Home Loan?

Below mentioned are the common documents which are required for applying online for a Home Loan:

  •    Application form duly filled with one passport size photograph.
  •   Photo Identity proof – VOTER ID/ PAN Card/ Aadhar Card/ Passport/Driving License
  •    Residence Address Proof – License/ Registered Rent Agreement/ Utility Bill
  •    Residence Ownership Proof – Sale deed or rental agreement
  •    Income Proof – salary slip, bank statement and Form 16
  •    Bank Statement – Past 6 months’ document
  •   Property Documents – Sale deed, Katha, transfer of ownership.
  •    Processing Cheque – A cancelled cheque for validation of bank account.


For SalariedFor Self-Employed
Employment certificate from the employerCopy of audited financial statements for the last 2 years
Copies of pay slips for last few months and TDS certificate Copy of partnership deed if it is a partnership firm or copy of memorandum of association and articles of association if it is a company
Latest Form 16 issued by employer Bank statements Profit and loss account for the last few years
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Home Loan EMI Calculator

You can check your housing loan eligibility as well as you can check your EMI payable as per your budget online. It is simple to use and results are generated within a second. You get your EMI as well as the complete chart for the entire tenure within no time at all.

Why Choose Us for Applying A Home Loan

Home Loan is a tool through which your dream home can become your own home. But fulfilling this dream is not an eye blink task. Many people spend their half of the age or you might say complete age in building their own house. But through Home Loan your confusion and problems can be easily solved.

We here assist you by providing the complete procedure online with minimal documentation. On this single platform you can check out various options available from different banks. You can easily check your eligibility, documents required, and interest rates charged as per your repaying capacity.

  •     We assist in analyzing your profile.
  •   We provide you with hassle-free documentation.
  •    We assist you in choosing the right loan according to your needs at special interest rates.
  •    We provide best offer on home loans from leading financial institutions instantly.
  •    You can easily compare & choose for your home loan instantly.


Steps To Apply For Online Home Loan

  • Step:1 Check your eligibility and fill in the Home Loan Application Form
  • Step:2Compare various Home Loan options, and apply for the best option
  • Step:3 After successful submission of the application get an instant e-approval

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