Before applying for a home loan or for that matter anything one should know everything about the process, this will help in avoiding any pitfall. Here we have mentioned a process of applying for a home loan for a salaried or self employed person.
Home application for Salaried Person
- Fill up salary information, your personal information, employment information.
- Furnish your property related documentation
- Upload the required documents to start verification arrangements
- If everything goes fine you may receive the loan amount in 15 days.
Home Loan application for self employed individuals(entrepreneurs)
- Fill up the form as mentioned above
- Put all your business related documents, annual income, loan amount required for purchasing home
- Upload the required documents to start verification arrangements
What is the minimum salary to apply for home loan?
Generally the minimum salary starts from Rs 10,000 for a salaried person and Rs 2 Lakh PA for a business man.
Which bank is best for housing loan?
We feel that every person has different need and accordingly the bank suits them. However, SBI has good reputation in market for fair practice and transparency.
What is the interest rates for home loan?
Interest rates start from 6.6% and goes beyond 7.5%. You can check the detailed break up in this blog of interest rates for home loan.