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Secure Your Home Loan With Findestination

Home Loan

Overview

Buying a home is always special and holds an important place in everybody’s life. As a home loan service provider, we will help you get a home loan in no time – our team of experts suggests the best solutions based on market research and in-depth domain knowledge. As one of the leading home loan service providers, we understand how significant this step is for you, and hence we have a host of home financing options to make your home buying experience simpler and beautiful. Buying a home is a big step, and picking the right lender is bigger. Home loan is a long-term commitment of 15-20 years, and hence you need to consider several factors like expertise, in-depth domain knowledge, and safe retrieval of the title deed are critical. However, a new home brings in new hope, joys and our services are customized to provide you with perfect solutions to suit your needs.

Features & Our Assistance

  • Guidance and counseling throughout the process
  • Enjoy a higher loan amount against your income
  • ROI starts from 6.5%
  • Repayment tenure from 3 years to 30 years*
  • Lowest processing fees
  • No hidden charges
  • No post loan hassles
  • Simplified documentation
  • Door-step services

Home Loan Types

Purchase of Home

This loan can be available to purchase a new home from a builder or resale.

Land Loan

A land loan provided by financial institutions equips you with the finance to buy a residential plot for constructing your home. You can invest today in a plot of land & build a home in the near future. When you decide to begin with construction, you can benefit from any of our home loans.

Construction Loan

You can build a home on an existing plot as per your design and requirement.
Plot + Construction Loans
With this loan, you get access to a plot loan and a construction loan that will help you acquire a plot and construct your home on it.

Home Improvement Loan

The interiors of any home reflect its owners’ personal preferences and tastes, making it imperative to upgrade to keep up with changing times constantly.A home improvement loan is designed to help you repair and improve your existing loans. You can avail 80% of the cost of the improvement. The architect/engineer will require a detailed cost estimate will be required from the architect/engineer for the property to be constructed/renovated.

Home Extension Loan

We make it easy to extend your home the way you like. With a home extension loan, you can extend or add space to your home as per your requirement. So, if you ever plan to make your living room bigger or have a nice study room, we will help you get all the necessary regulatory approvals. As a home loan service provider, we will arrange funding up to 80% of the cost of the extension.

Balance Transfer & Top Up

This facility offers you a choice to transfer the loan’s outstanding balance availed from other banks/financial institutions for more favorable terms and conditions. In addition, you can also increase the loan amount through a top-up loan.

Home Saver

This is a flexible payment scheme where loans are sanctioned as an overdraft. The overdrafts drawing power will be reduced monthly to the extent of the principal component of the EMI, where the overdraft is liquidated at the end of the loan tenure. (Interest component of the EMI remitted will service the interest obligations).

Procedure

1. Submit a complete application form with a photograph
2. Submit all required documents
3. Internal verifications will be done
4. Personal interview with a bank official
5. Sanction letter issued by the bank subject to title clearance and property valuation
6. Title clearance through our panel advocate
7. Valuation of the property by panel valuer and inspection of the property by bank official
8. Collection of pre-disbursement documents
9. Loan disbursement

Procedure

  • Submit a complete application form with a photograph
  • Submit all required documents
  • Internal verifications will be done
  • Personal interview with a bank official
  • Sanction letter issued by the bank subject to title clearance and property valuation
  • Title clearance through our panel advocate
  • Valuation of the property by panel valuer and inspection of the property by bank official
  • Collection of pre-disbursement documents
  • Loan disbursement

Eligibility And Documents Required

Eligibility Criteria

Your eligibility depends upon your repayment capacity as determined by financial institutions. In addition, factors like income, age, qualifications, number of dependents, spouse’s/co-applicants income, assets, liabilities, savings history, stability, property value, and continuity of occupation are considered while computing your eligibility.

Documents Required

For Salaried

Duly filled application 
Identity ProofPan Card, Aadhar Card
Passport size photographs of all applicants
Address ProofElectricity bill
Latest form 16 and last 3-month salary slips
Last 6 months bank statement of salary account
Existing loans sanction letter/repayment track if any
Processing fee cheque

Sole proprietorship/ Partnership/ Pvt. Ltd Company

Duly filled application 
Identity ProofPan Card, Aadhar Card
Passport size photographs of all applicants
Business proof
Latest address proof/Business proof
Last 2 years income tax return of firm/ company
Last 12-month bank statement of main operating account of the firm
Audited financials
Certified copies of MOA /AOA / Partnership deed as applicable
Professional qualification certificate if applicable
Existing loans sanction letters/Repayment track record if any
Copy of property papers
Processing fee cheque

FAQs

Individuals
Salaried Individuals: Any individual who is in permanent service in any government undertaking or any reputed private sector Company in India. We also offer loans to salaried Non-Resident Indians (NRIs) working with reputed companies in select countries. Professionals: Professionals, i.e., allopathic doctors, architects, chartered accountants, cost accountants, practicing company secretaries, management consultants, and lawyers. Self Employed: Individuals like traders, distributors, manufacturers, service providers, etc.

 

Non-Individual Entities
Proprietorship Firms, Partnership Firms, Private Limited Companies, Public Limited companies.

You can get Home Loan for a maximum of 30 yrs. However, the term for the loan will be restricted to the retirement age or 60 yrs at loan maturity for salaried customers and 65 years for self-employed customers.

Yes, very much so. In many states in India, the agreement for sale between the builder and the purchaser is required by law to be registered. Therefore, in your interest, you are advised to lodge the contract for sale at the office of the Sub-registrar appointed by the State Government under the Indian Registration Act, 1908.
In dual-rate, the interest rate is fixed for the particular period; it won’t change with the change in the Base Rate or PLR of the Financial Institution until that particular period. Once that period of Fixed Rate is over, the rate of interest of your loan will be linked to the Base Rate or PLR of the Financial Institution.
The total interest payable by you would qualify for deduction under Section 24 for income tax purposes up to the overall limit of Rs 150,000/-. Principal repayments would qualify for deduction from taxable income under Section 80C up to the overall limit of Rs. 1,00,000/- Stamp duty and registration charges and other expenses related directly to the transfer are also allowed as a deduction under Section 80C, subject to a maximum deduction amount of Rs.1,50,000. Claim these expenses in the same year you make the payment on them.
For changing from a floating-rate home loan to a fixed-rate home loan, you will have to execute an amendatory loan agreement for conversion and pay a conversion fee on your outstanding loan amount.
Yes, you can make part pre-payments, and generally, there are no charges for floating-rate loans. For fixed-rate loans, it may vary as per bank norms. Usually, banks provide the facility of par prepayment up to a maximum of 25% of the balance outstanding against your loan amount at the time of the request. All part prepayments made 12 months prior to the foreclosure of the loan will be charged at the applicable foreclosure rate at the time of foreclosure.