Property Ownership

You should be owner of the property on which you want to construct a home. You can avail the loan to construct an extra room or floor on an existing property.

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 for self construction. You should be 65 years or less at the time of loan maturity.

Location of Property

Your property 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

You need to provide documents for identification and address proof. All Government approved documents are required. Please provide the bank/ITR statements and ownership documents (if applicable).

Complete the Loan Application Process

Make your spouse, child or parent with whom you are building the home, the co-applicant to your loan. The co-owner of the property should also be a co-applicant. Our customer care executives are always happy to help you correctly complete the loan application process.