OWN THE HOME YOU WANT TO LIVE IN
Wish to purchase a plot and construct your dream house on it? MHFCL can provide loans for both the plot purchase and house construction!
You can take loan amounts varying from Rs 3 lakh to Rs 40 lakh.
Please get in touch with us to know the maximum loan you are can get to purchase a plot and construct the property.
You can choose from tenures going up t0 20 years.
We offer an installment calculator that is easy to use. It makes it easy for you to calculate the amount your monthly installment.
The property you buy is mortgaged until you repay the loan amount in full.
You have to first own the land on which you will construct the home. The loan is not given in full and is instead given as per requirements.
Indian citizens, both salaried or self-employed, can apply for a loan to buy a plot and then build their dream home
You need to be at least 21 years of age when applying for a home loan for self-construction. You should be 65 years or less at the time of loan maturity.
The plot you purchase should be in a city with an MHFL office and lie within the branch’s geo-limits.
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.
When taking a plot plus construction loan, you have to provide documents for proof of identification and address. You will also have to provide ownership of the plot after purchase. Other requisite documents are KYC and bank/ITR statements.
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. Our customer care executives are always happy to help you correctly complete the loan application process.