Buying your own house is one of the most significant milestones – both financially and in life. Therefore, it demands substantial commitment, and there’s a good chance that it’ll be the biggest purchase you ever make. Naturally, a few hurdles will be strewn across your finance journey as you prepare for this mammoth task. One such obstacle is choosing the right housing finance lender.
Taking a housing loan requires proper financial planning, especially around home loan EMI repayment. That’s why it’s essential to choose the right lender, possibly the one that provides a whole lot of flexibility, affordability, speedy processing and advisory support, if needed, after sanctioning the loan.
If you’re looking for such a lender, go with Tata Capital. Their housing finance options cater to a wide range of audiences – first-time homebuyers, people looking to expand their homes, or individuals who fancy the idea of living rent-free for the rest of their lives. It’s an ideal solution for anyone looking to get a loan in a hassle-free fashion, along with attractive home loan interest rates.
Not convinced? Here are some features that will definitely change your mind.
Home loans for everything
Tata Capital’s home loans are not only limited to buying a flat in an up-and-coming locality. They can also be used to buy yourself a plot, build a house on an existing one, or both. Also, your home may gather a little wear and tear over many years, and there may come a time when you will need to show it some love. Tata Capital’s loans allow you to do that as well. Lastly, you can also use the loan to add more built-up area to your home.
Minimal documentation
Presenting adequate documentation is perhaps the most critical part of the housing loan application process and one, which is also the most cumbersome and time-consuming. Tata Capital’s loans, however, requires a minimum amount of paperwork, which includes the following documents, and which are easy to get your hands on:
- Age Proof
- Address Proof
- Business Proof
- Income Proof
- Existing loan details (if any)
- Identity Proof
- Processing fee
Such a short list of required documents makes Tata Capital a go-to for applying for housing finance.
Easy-to-meet eligibility criteria
Tata Capital’s unrestrictive home loan eligibility criteria allow individuals anywhere between 24 and 65 to apply for the loan effortlessly. Also, the loan only requires a minimum salary of Rs. 30,000 and two years of work experience out of its borrowers. For self-employed individuals, a total of three-year work experience is required. The same goes for NRIs.
Calculate your savings with a host of online tools
Tata Capital’s website features various free tools like home loan EMI calculator, GST calculator, and foreclosure calculator, which you can employ to decide the loan tenure and, thus, effectively plan your repayment schedule. Their online portal also has an eligibility calculator to assess whether you meet all the requirements.
