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First name*
Last name*
Male
Female
Date of birth*
Email ID*
Mobile number*
Address Line 1*
Address Line 2
City you live in*
PIN code*
Property type*
Residency Tenure*
Property Location*
Select Property Type*
Property Status*
Under construction
Ready
Approximate Property Estimation*
Loan amount*
Loan Tenure*
Employment type*
Salaried
Self-Employed
Company Name*
Monthly Income*
Bonus(If any)
Incentive(If any)
Work experience*
My Firm name*
Sales/Turnover*
Net Profit*
Tax Payable(If any)
Depreciation(If any)
Directors/Partners salary(If any)
Existence of business in years*
Interest Paid on Loans(If any)
Other Income(If any)
Total EMI Per Month*
Adding Co-Applicant?
Yes
No
Co-applicant's relationship*
Other relationship*
Co-applicant's employment type*
Salaried
Self-Employed
Co-applicent company name*
Monthly Income*
Bonus(If any)
Incentive(If any)
Work experience*
Co-applicant's firm name*
Sales/Turnover*
Net Profit*
Tax Payable(If any)
Depreciation(If any)
Directors/Partners salary(If any)
Business tenure*
Interest on existing loans(If any)
Other Income(If any)
Total EMI per month*
- Loans for purchase of : A flat, row house, bungalow from private developers in approved projects.
- Properties from Development Authorities such as DDA, MHADA etc.
- Attractive interest rates that make your Home Loan affordable and easier on your pocket.
- Customised repayment options to suit your needs.
- No hidden charges.
- Expert legal and technical counselling to help you make the right home buying decision.
- Integrated branch network for availing and servicing the loan anywhere in India.
NEW PROPERTY PURCHASE
- We make sure you have as much information as possible to help you make a decision on your first mortgage. The guides below will outline exactly what you can expect from the process and make sure there are no surprises.
- HOUSING Loans for purchase of a ready or under construction flat/apartment, row house, bungalow from developers & builders in approved projects (unapproved projects can be approved).
- Multiple options: Avail loans with multiple financial institutions.
- Expert advisory & counseling for your home loan.
- Innovative schemes.
- Doorstep assistance on your Home Loan.
- Competitive & attractive interest rates.
- Repayment options to suit your requirement which can go up-to 25 years.
- The tenure of the loan is also dependent on the customer¹s profile, age of customer at maturity of loan, age of property at loan maturity, depending upon the specific repayment scheme as may be opted and any other terms which may be applicable based on prevalent norms.
- No hidden charges
- No Foreclosure charges.
- No Pre part payment charges.
- Loan amount up to 80% of the cost of the property.
- Type Of Rates Available Rate : Fixed, Semi Fixed, Variable/adjustable
- You can apply individually or jointly for Home Loans. All proposed owners of the property will have to be co-applicants. However, all co-applicants need not be co-owners. Generally co-applicants are close family members.
The amount of loan given by financial institutions depend on lots of factors, including your income, age, qualifications, work experience, number of dependents, spouse's income, stability of income and employment, assets, liabilities, etc.
There are number of factors that count for the eligibility for a housing loan. Though RBI has drafted guidelines for the eligibility for the loan but the banks have their own criteria to determine the eligibility and quantum of housing loan. The borrower’s should be aware of the factors before applying for the loan.
- Information on the application form. The information filled by the customer in the application form is verified from various primary and secondary sources - through interviews, calling up the employer, verifying from the database etc. In case of wrong information or discrepancy, the loan application is liable to be canceled.
- The financial status of an individual is an important factor for determining the eligibility because the repayment capacity of the borrower depends on the financial position. The income level, net income, liabilities etc determine the amount of loan.
- The requirements include a particular minimum income or a fixed and certain source of income. The credit history of the borrower has an important role in determining the loan eligibility. Usually, the lenders maintain a database of borrowers and verify the credit history to check for previous repayment defaults, even from other lenders.
- The personal profile of the individual is also important. These include factors like educational qualification, profession, number of dependents, assets owned, liabilities owed, savings history etc. A higher number of Dependants or existing liabilities implies lower repayment capacity.
- The individual's age give an idea about the earning life, and the life cycle stage at which the individual is. In case the property is co-owned, the co-owner cannot be a minor. Moreover there is a fixed age limit of the co-owner. The age limits are set to minimize ownership disputes. The age limit is taken into consideration while fixing the tenure of the home loan and EMIs.
- The applicant's retirement age is also considered. For example, if the applicant is 45 years of age and is set to retire at 60 years, the maximum loan tenure available will be 15 years.Also, in case the bank has a 75-year age limit for a co-applicant, if the applicant is 40 years old and the co-applicant is 60 years old, then the home loan will be sanctioned for a maximum period of 15 years only.
- The reputation of the builder also counts. List of pre-approved builders is available with each bank. Their credentials are already verified by the bank and as such loans are easily available for their properties.
- Location of property also matters for the eligibility. Banks have specific norms with respect to a minimum area of a flat too. This may be built-up area or carpet area.
- The age of the property is also an important consideration in case of purchase of existing properties.
- If the resale property is less than 50 years old then only home loans are sanctioned. Banks conduct legal and technical appraisal of the property to see whether the title of the property is clear, there are no ownership disputes, the property is free from any encumbrances etc.
Generally Required Financial Documents For Self Employed Category
Generally Required Financial Documents For A Salaried Category
- All Certified Financials Statements for latest 3 financial years.
- Bank statements.
- Business and Personal Profile.
- All Know Your Customer(KYC) Documents.
- All legal and title/Property Documents to be offered as collateral.
- Copy a Partnership deed (Applicable for a partnership Firm).
- Copy of MOA & AA (Applicable for a Private Limited Company).
Generally Required Financial Documents For A Salaried Category
- Latest 3 months company certified Salary Slips.
- Latest 3 years company certified FORM No 16.
- Latest 3 years Income Tax Returns.
- Bank Statements.
- All Know Your Customer(KYC) Documents.
- All legal and title/Property Documents to be offered as collateral.
- How is the loan eligibility decided?
We will determine your loan eligibility largely by your income and repayment capacity. Other important factors include your age, qualification, number of dependants, your spouse's income (if any), assets & liabilities, savings history and the stability & continuity of occupation. - What does an EMI mean?
EMI refers to the ‘Equated Monthly Installment’ which is the amount you will pay to us on a specific date each month till the loan is repaid in full. The EMI comprises of the principal and interest components which are structured in a way that in the initial years of your loan, the interest component is much larger than the principal component, while towards the later half of the loan, the principal component is much larger. - What does ‘market value’ of the property mean?
Market value refers to the estimated amount that is expected to be fetched on the property as per the prevailing market conditions. - Do I get tax benefits on the loan? Yes. You are eligible for tax benefits on the principal and interest components of your Home Loan under the Income Tax Act, 1961. As the benefits could vary each year, please do check with our Loan Counselor about the tax benefits which you could avail on your loan.
- What security will I have to provide? Security of the loan would generally be security interest on the property being financed by bank and / or any other collateral / interim security as may be required by us. It is extremely important for you to ensure that the title to the property is clear, marketable and free from encumbrance. There should not be any existing mortgage, loan or litigation, which is likely to adversely affect the title to the property.
- When do I start repaying the principal amount? Repayment of the principal commences from the month following the month in which you avail full disbursement of your loan. Pending final disbursement, you pay interest on the portion of the loan disbursed. This interest is called pre-EMI interest. Pre-EMI interest is payable every month from the date of each disbursement up to the date of commencement of EMI.
- How do I repay the loan? For your convenience, Bank offers various modes for repayment of the loan. You may issue standing instructions to your banker to pay the installments through ECS (Electronic Clearing System), opt for direct deduction of monthly installments by your employer or issue post-dated cheques from your salary account.
- What does ’Agreement to Sell’ mean? Does it have to be registered? The ’Agreement to Sell’ in a property transaction is a legal document executed on a stamp paper that records in writing the understanding between the buyer and the seller and all the details of the property such as area, possession date, price etc. In many Indian states, the Agreement to Sell is required to be registered by law. We suggest that in your own interest you should register the Agreement within four months of the date of the Agreement at the office of the Sub-Registrar appointed by the State Government, under the Indian Registration Act, 1908.
- What does encumbrance refer to? Encumbrance on a property refers to claims or charges on the property due to liabilities such as unpaid loans and bills. It is critical that during your home search you consider properties which are free of encumbrances of any sort.
- Can I get a higher loan through my existing loan account to buy a new property? Yes, you could go in for a ‘Home Conversion Loan’ whereby your existing loan (which you took to buy your current home) could be transferred to the new house with additional funds for the incremental cost of the new house, subject to your loan eligibility. This means you can move into your new home without having to go through the hassle of pre-paying your existing loan.
- Can I repay my loan ahead of schedule? Yes, you can repay the loan ahead of schedule by making lump sum payments towards part or full prepayment, subject to the applicable prepayment charges. Some banks also offer a free-of-charge facility to accelerate your loan repayment called ‘Accelerated Repayment Scheme’. This option provides you the flexibility to increase the EMIs every year in proportion to the increase in your income which will result in you repaying the loan much faster.
Our Offers
*The calculated EMI is based on your total eligible loan amount.
*The eligibility amount is in Lacs.
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What People Say
Every time I have applied for a loan, I have been given the highest level of Customer Service. The friendly attitude of staff that I have dealt with has been above and beyond of what you would get from any institution. Thank you for all of the help you have given myself and my wife over the years.
I rarely write reviews but my experience with your team was fantastic. They went over and above in securing my homeloan and gave very valuable advise during the process; It just went on to show the knowledge, experience and the fact that they love what they do.
Such an easy process! Asset took care of everything for us which was great since we are first home buyers and had no clue what to expect or do.
Asset Financial provided us with a forward-thinking and professional service with regards to some complex Corporate Finance and structuring matters. We were particularly impressed with care that they took to understand our circumstances so the advice we received was tailored specifically for us.
We are happy with the advice we received from the team. The involvement of senior experiences people at every stage of the transaction made a huge difference.
Wanted to thank you very much for your help with our refinance. I’m really pleased with the package we were able to get in place and I appreciate you working so hard to find something that fit exactly what we were looking for.