Housing loans, also known as home loans or mortgages, provide individuals with financial assistance to purchase or construct residential properties. These loans offer long-term financing options with competitive interest rates and flexible repayment terms. Lenders assess factors such as the borrower’s creditworthiness, income stability, and property valuation to determine loan eligibility. Housing loans allow individuals to fulfill their dream of homeownership, offering an opportunity to invest in real estate and build equity over time.
As mentioned earlier, the home loan eligibility is determined by various factors including income, employment status, loan tenure and so on.
Any Indian citizen in good standing who is salaried, self-employed or business person with regular source of income can apply for a home loan.
