Home Loan & Mortgage loans Features

  • Home loans are usually offered @ 9% onwards in Hyderabad
  • Tenures usually range up to 30 years
  • LTV ratio: 90% of the cost of property
  •  Pradhan Mantri Awas Yojna for economically weaker sections, middle income groups and low income groups with credit linked interest subsidy of up to Rs 2.76 lakh
  • Top-up loans are offered on existing home loans to meet the personal requirements of the borrowers
    Home Loan overdraft facility is also provided to existing home loan borrowers
  •  Home loan balance transfer to existing home loan borrowers of other lenders at lower rate of interest
  •  Select customers are offered pre-approved instant loans
  •  No pre-payment charges
  •  Income Requirements of Home Loan in Hyderabad: The minimum monthly income requirement is Rs 15,000 which can be higher for some lenders.

Eligibility Criteria of Home Loans in Hyderabad

  • Nationality: Indian, PIO, NRI
  •  Age- Minimum: 21 years
  •  Maximum: Up to 70 years at the time of loan maturity
  •  Work experience: Minimum 3 years
  •  Job profile of the applicant:
  • Salaried (government and corporate professionals)
  • Self-Employed Non-Professionals (contractor, trader, commission agent)
  • Self-Employed Professionals (Doctors, CS, lawyers, CA, architect, consultant, engineer
  •  Credit Score- 750 and above for better chances of availing home loan and at lower interest rates

Documents Required for Home Loans in Hyderabad

For Salaried Applicants

  • KYC documents: PAN card, passport, voter ID, Aadhaar card, driving license
  •  Income Proof: Salary slips for last 3 months, Bank statement for past 6 months with salary credits, ITR/Form-16
  •  Employment contract/appointment letter if the job is less than an year old
  • Bank statement showing loan repayment history
  • Own contribution proof
  • Property documents
  •  Processing fee cheque

Additional Documents for Self-Employed Applicants

  •  Recent Form 26AS
  •  Income Proof: ITR with income computation for past 3 years
  •  Savings account statement of individual for past 6 months
  • Business profile
  •  Memorandum and Articles of Association of the company
  • Current account statement of business entity
  • Balance sheet and profit & loss account statement for last 3 years