What documents are required for home loan approval?

List of Documents Required for Home Loan

  • Property Documents. Sales deed, stamped agreement of sale, or allotment letter. NOC from the housing society or builder. …
  • Identity Proof. Aadhaar. PAN. …
  • Address Proof. Any of the above identity proof document with the permanent address. Electricity bill. …
  • Passport sized Photograph.

>> Click to

Likewise, can I get home loan without property documents?

Generally, salaried individuals need to provide fewer documents. If you have a Salary Account with the bank from which you are availing a Home Loan, you can get a Home Loan sanction without documentation.

Secondly, can I get loan against LIC Jeevan Saral policy? The loan can be availed only after you have paid premium for three years. The maximum loan amount is 90% of the Surrender Value (85% in case of paid up policies) of the policy at the time of making application. LIC New Jeevan Anand acquires Surrender Value only after 3 years. … Hence, no loan is possible before 3 years.

Furthermore, can I get loan without income proof?

Is it possible to get a personal loan for self-employed without income proof? No, without income proof you cannot avail personal loans. You will need to provide bank statements as proof of your income.

Can I increase my home loan amount?

Upon refinancing, the home loan amount can be increased. … This will help you get a higher loan amount sanctioned. You can increase your home loan amount post sanctioning in case you decide to buy a costlier property and have the eligibility to take a higher home loan amount as well.

Can I take LIC loan from any branch?

You can avail of the loan from LIC itself, or you can also borrow from other banks. You do not need to cancel or surrender your existing policy, thus allowing you to keep your savings intact and at the same time, meet your personal expenses. You do not need any additional documents, or credit score to get this loan.

How can I get documents from LIC Housing Finance?

Above Rs. 50 Lacs & upto Rs.

Document Type Document Required
Property Documents 1. Ownership proof of property 2. Allotment letter of builder or society in case of flats 3. Up to date tax paid receipt
Identity and Address Proof 1. Driving License 2. Passport 3. PAN Card 4. Aadhaar Card

How can I increase my home loan amount after disbursement?

Tips to Increase Home Loan Eligibility

  1. 6 Best Ways to Increase Home Loan Eligibility Quickly. Add a co-applicant. …
  2. Add a co-applicant. …
  3. Maintain a credit score above 750. …
  4. Repay your debts religiously. …
  5. Open an account with your preferred lender. …
  6. Declare your additional income sources. …
  7. Choose a longer tenure.

How much home loan can I get if my salary is 15000?

Here taking a salary as ₹ 30k, & without any fixed monthly obligation, you can pay a maximum of ₹ 15,000 as EMI considering 50% FOIR. If the interest rate is 10% per annum, the loan amount eligibility can be arrived at ₹ 17,09,806 using a home loan eligibility calculator (assuming 3 household members).

How much home loan can I get on 40000 salary?

How much home loan can I get on my salary?

Net Monthly income Home Loan Amount
Rs.25,000 Rs.18,64,338
Rs.30,000 Rs.22,37,206
Rs.40,000 Rs.29,82,941
Rs.50,000 Rs.37,28,676

Is Patta required for home loan?

You will only get the document issued if there is any house or building built on it. If there are multiple owners for a single plot then a single Patta is being issued for all the owners. But in that case the there must be a division of the property. If there is an undivided land Patta will not get issued.

Is Patta required for housing loan?

You will only get the document issued if there is any house or building built on it. If there are multiple owners for a single plot then a single Patta is being issued for all the owners. But in that case the there must be a division of the property. If there is an undivided land Patta will not get issued.

What are the 4 types of loans?

  • Personal Loans: Most banks offer personal loans to their customers and the money can be used for any expense like paying a bill or purchasing a new television. …
  • Credit Card Loans: …
  • Home Loans: …
  • Car Loans: …
  • Two-Wheeler Loans: …
  • Small Business Loans: …
  • Payday Loans: …
  • Cash Advances:

What are the documents required for LIC loan against policy?

The documents required to avail of this loan are address proof, identity proof, and loan policy deed. Therefore, smoother process as no additional documents or credit score is required for the same.

What are the documents required for up loan?

What are the documents required to apply for a top-up loan?

  • Proof of identity: Passport, Aadhaar card, voter ID card, PAN card, driving license.
  • Salary slips for 3 months (in case of salaried applicants)
  • Proof of address: Rental agreement, passport, utility bills, etc.
  • Income details in the bank statement for 3 months.

What is BT and top up loan?

Top-up loan is a facility provided by banks, housing finance companies and other financial institutions that allows you to borrow a certain amount of money over and above your home loan. Features of Top-Up Loan: Eligibility: The top-up loan is not available to everyone who has availed a home loan from a bank.

What is cibil score for LIC Home Loan?

Interest Rate on Home Loan

Loan slab CIBIL Score Salaried & Professional
Upto Rs. 50 Lakhs CIBIL 650 – 699 7.10%
CIBIL 600 – 649 7.30%
CIBIL < 600 7.50%
CIBIL < 0 NTC 7.20%

What is list of documents in home loan?

List of Property Documents Required for Home Loan. Deed of Sale or Sale Agreement or Share Certificate (original) in case of a cooperative society. Receipts for taxes paid for Building and Land, certificate of possession, and certified sketch of the location of property from revenue authorities.

What is minimum salary required for home loan?

What is the Minimum Salary for a Home Loan? Your salary should be above Rs. 15,000 per month to qualify for a home loan.

What is the EMI for 10 lakhs home loan?

EMI Calculation for a Home Loan of Rs. 10 Lakh with Different Tenors

Loan Amount EMI when Tenor is 10 Years EMI when Tenor is 15 Years
Rs. 10,00,000 13,215 10,746

What is the EMI for 20 lakhs home loan?

EMIs on a 20 lakh home loan for 30 years

Loan Amount Interest rate EMI
Rs.20 lakh 6.70%* Rs.17,551

What is the interest rate in LIC?

FD Interest Rate in LIC Housing Finance 2021

Time Duration FD Interest Rates Today Current FD Interest Rates for Senior Citizen
18 months 5.50% 5.75%
1 year 5.25% 5.50%
2 years 5.65% 5.90%
3 years 5.75% 6.00%

Which bank is best for housing loan?

Best banks to get your home loan in 2021

  • Union Bank of India.
  • Union Bank home loan interest rate.
  • Kotak Mahindra Bank.
  • Kotak Mahindra home loan interest rate.
  • Bank of Baroda.
  • Bank of Baroda home loan interest rate.
  • Punjab National Bank.
  • Punjab National Bank home loan interest rate.

Leave a Comment