Property

You can take the home loan for purchasing a flat from a builder, or a house purchase from a Housing Board or a Development Authority

Employment

Indian citizens, both salaried or self-employed, can apply for a loan for home construction.

Age

You need to be at least 21 years of age when applying for a home loan. You should be 65 years or less at the time of loan maturity.

Location of Property

The property or home you purchase should be in a city with an MHFL office and lie within the branch’s geo-limits.

Others

You should have a bank account. All owners of the property being financed and all individuals whose income has been considered for the loan have to be co-applicants to the loan.

Provide the Documents

When taking a home loan, check out the documents you require and keep them ready. You will require to submit proof of identification and address. The contract with the builder or housing board for sale of property along with KYC and bank/ITR statements are also required.

Complete the Loan Application Process

You can take the loan as an individual or as a joint loan with a spouse, adult child or parent. If there is a co-owner of your first home, they should be co-applicants to the loan. Please get in touch with our customer care executive who can help you with the process of filling and submitting the loan application form without mistakes.