Home Loans

Overview:

We have designed tools and calculators to ensure you have a seamless home buying experience. Whether you are looking for your first home or expansion of existing home, we offer flexible home loan that suits your needs. With us, by your side we will help you unlock the door to your new home.
HOME LOAN ELIGIBILITY

You should be above 24 years and below 65 years.

DOCUMENTS REQUIRED FOR HOME LOAN

Age Proof

A Copy of your Passport, Driving License, Life Insurance Policy, Birth Certificate, PAN Card & School Leaving Certificate.

Photo Identity Proof

A copy of your Voter ID / Passport / Driving License / Aadhaar Card / PAN Card

Address proof

A copy of your Utility Bill / Bank Statements / Property Registration Documents / Property Tax Receipt / Voter ID

Salary Slips

A Copy of your Salary slips for the last three months / Appointment letter / Yearly increment letter / Certified true copy of Form 16

 

Income Proof

A copy of your Salary account bank statements for the last six months

 

Existing Loan Details

Existing loan details should be provided through bank statements

 

Processing Fee Cheque

To be issued from the salary account for Salaried customer or the business account in case of Self

HOME LOAN ELIGIBILITY

You should be below 65 years.

DOCUMENTS REQUIRED FOR HOME LOAN

Age Proof

A Copy of your Passport, Driving License, Life Insurance Policy, Birth Certificate, PAN Card & School Leaving Certificate.

Photo Identity Proof

A copy of your Voter ID / Passport / Driving License / Aadhaar Card / PAN Card

Address proof

A copy of your Utility Bill / Bank Statements / Property Registration Documents / Property Tax Receipt / Voter ID

Business proof

A copy of the last two years’ Income Tax Returns / your Business profile on letter head / Registration certificate for business commencement

Income Proof

A copy of your Salary account bank statements for the last six months

 

Existing Loan Details

Existing loan details should be provided through bank statements

 

Processing Fee Cheque

To be issued from the salary account for Salaried customer or the business account in case of Self

Frequently Asked Questions

1. How do I apply for a Home Loan?

You can approach/reach us by any of the following ways:

2. How is the interest charged/ calculated?
Interest is calculated on monthly rest.
3. Who can be the co-applicants for the loan?
  • Your spouse
  • Any of your blood relative (immediate family members)
  • Also co-owner has to be necessarily co-applicant in the loan.
4. What are the securities/ collaterals you need to provide?
Immovable property owned by the applicants. The applicant’s title to the property should be clear, marketable and free from any encumbrances. The security created on property shall be first and exclusive. Such security will be created by deposit of original title documents of the said property.
5. What are the stages involved while taking a loan?
Application submission – Submit a completely filled in application with all the necessary documents. Sanction – You get an approval for a specific loan amount based on your requirement, repayment capability and the value of the property. Disbursement is done on the basis of nature of transaction. For resale, disbursal instrument is made favoring the seller, For Balance transfer cases it will be favoring existing financier, for self-construction cases it will be on the basis of stage of construction favoring the borrower. It will be in favoring of the builder for builder direct x construction favoring the borrower. It will be in favoring of the builder for builder direct allotment cases.
6. What are the various kind of loans extended?
  • Loan for home purchase
  • Loan for Residential plot and self-construction
  • Loan for Home extension/Improvement
  • Balance Transfer from other banks
  • Loan for builders properties
  • Loan against Property
7. What is a Monthly Reducing Balance?
An Equated Monthly Installment (EMI) has 2 components: interest and principal. When the interest is calculated on monthly rests, the principal on which the interest is charged goes down every month. This results in significant savings for the customer over the tenure of the loan.
8. What is an amortization schedule?
An amortization schedule is a table giving the reduction of your loan amount by monthly installments. The amortization schedule gives the break-up of every EMI towards repayment interest and outstanding principal of your loan.
9. Can you get IT certificates in the name of both the applicant and co-applicant separately?
As per IT rules, only one certificate can be issued for a Home Loan hence one certificate will be issued in the name of both the applicant and co applicant.
10. What kind of Tax Benefit does an individual get while applying for a Home Loan?
Many of us have taken home loans / mortgages to buy our house. One of the most important motivators for availing a housing loan is the income-tax benefit that it provides. If you have availed a home loan, you can claim tax benefits on both the principal and interest components of the home loan as per the Income Tax Act. These benefits are in the form of deductions available to assesses who have taken a loan to either buy a house or build one. You can reduce your tax liability by a maximum of Rs.6250 per month (Rs.75000 p.a.) (for self occupied property) Under section 80,repayment of principal of up to Rs.1 lac is deductible in full from your income which means you can save tax up to a maximum of Rs.30,000 p.a. on principal. Similarly under section 24 of the Income Tax Act, interest is deductible up to a maximum of Rs.1.5 lac. Thus, this leads to an additional saving of a maximum of Rs.45000 p.a.
11. What is Pre EMI?
Pre EMI is the Interest paid on the Loan Amount availed in part and before the start of the actual EMI. This generally occurs in Self Construction or Construction Stage Linked Disbursals. The EMI doesn’t get started till the loan is disbursed in full and hence interest is charged on partially disbursed loan amount only which is Pre EMI.

Let's process your loan

We LOANGENIE squad will answer all your queries & provide you money ! On Time Every Time

Get In Touch

12 + 9 =

Get In Touch

Address

#103, Plot No 28, Mohammed’s Castle, Madhura Nagar, Beside Allahabad Bank, Yousufguda Road, Hyderabad-500 0038.

Phone

+91 9347325897

Whatsapp

+91 9347325897

Email

info@loangenie.co.in
Call Now ButtonCall Now
Open chat
1
Hello!
How can we help you?
EMI Calculator