Home Loan Eligibility
Eligibility depends on:
Income & Employment Stability
Credit Score
Age
Existing Liabilities
Required Documents
For Salaried:
Aadhaar & PAN
Salary Slips (3–6 months)
Bank Statements
Form 16
For Self-Employed:
Business Proof
IT Returns (2–3 years)
Bank Statements
Property Documents
Your Questions Answered
Q1: What is the minimum credit score required?
Generally 700+ is preferred.
Q2:How long does loan approval take?
Usually 3–7 working days.
Q3: Can I prepay my home loan?
Yes, prepayment options are available depending on the lender.
Q4: How much home loan can I get?
You can generally get up to 60–80% of the property value, depending on your income and repayment capacity.
Q5: What is the maximum loan tenure available?
Most banks offer repayment tenure up to 30 years, based on your age and eligibility.
Q6: Are there any processing fees?
Yes, banks usually charge a small processing fee, which varies by lender.
Q7: Can self-employed individuals apply for a home loan?
Yes, self-employed applicants can apply by providing income proof and IT returns.
Q8: What documents are required for a home loan?
Basic documents include ID proof, address proof, income proof, bank statements, and property documents.
Q9: Can I apply for a joint home loan?
Yes, you can apply with a co-applicant such as spouse or family member to increase eligibility.
Q10: What happens if I miss an EMI payment?
Missing EMIs may attract penalties and affect your credit score, so timely payment is important.