1. From where can one get home loans?
Yes, you can avail of a Home Loan. There are several Housing Finance companies, some of them are:
• SBI Home Finance
• HDFC
• ICICI
• LIC Home Finance
• GIC Home Finance
• IDBI
• Standard Chartered Grindlays
• HSBC
• CITI Bank

2. How much loan can one get?
You can get a Home Loan of up to 85% of the Total Consideration Value.

3.Who can be a co-applicant for the loan?
The spouse of the applicant can be included as a co-applicant for the home loan and his/her income shall be included to enhance the loan amount. Further, in case there are any other co-owners, they also need to be co-applicants.

4. What is the repayment period of the loan?
You can select the payment period you are comfortable with up to 15 years provided it does not extend beyond retirement age or on your reaching 65 years of age whichever is earlier.

5. How are home loans repaid?
The home loan repayment is by Equated Monthly Installments (EMIs) comprising of interest and principal amount calculated on annual rests. Post Dated Cheques or being directly deducted from your salary can pay EMIs.
In case of part disbursement of the loan, monthly interest is payable only on the disbursed amount. This interest is called Pre-EMI interest and is payable monthly till the final disbursement is made, after which the EMIs would commence.

6. What is the security provided for the loan?
The security of the property and/or such other additional /collateral security has to be provided as may be mutually agreed.

7. What documents are required to get the loan sanctioned?
Representatives of the concerned firm will discuss the documents that are required to submit in detail. An indicative list is given below:
• Passport size photograph of all applicants.
• Residence and age verification, which may be established from the PAN card, election ID passport, driving license and ration card.
• Bank statements for the last six months.
• Latest salary slip/ statements showing all deductions in case of employed applicants.
• Certified copies of Balance sheets and profit and loss accounts., IT acknowledgement, advance tax challans ( for both company/ firm and personal account ) for the last three years in case of self employed applicants.
• Memorandum / Articles of association for companies, partnership deeds for firms and a brief profile of your company /firm in case of self employed applicants.

8. How will they disbursed the loan?
The loan will be disbursed on:
• The identification and selection of the property.
• Submission of legal documents.
• Legal and technical clearance of the selected property.
• On satisfactory completion of the above and on the investment of the owners' contribution, the loan amount (as warranted at the stage of construction) will be disbursed.

9. What tax benefits do I enjoy?
Tax benefits are available on the principal and interest components of a loan as per the Income Tax Act, 1961. As the benefits could vary from year to year, it is advisable to check the current benefits available