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Home Loan Application

Home Loan Online Application - Features & Benefits

Last Updated 22nd Jan 2022

  • Home loan interest rate starting @ 6.50 %.
  • Special discount on home loan rates for women borrowers.
  • Lowest EMI per lakh of ₹ 632 for 30 years.
  • Get upto 90% funding of total cost of the home.
  • Nil prepayment charges on floating rate home loans.
  • Top up and overdraft facility available on house loan.
Apply for Home Loan @ 6.50%* Get upto ₹ 1,000* Cashback

Home Loan Application Form

Buying a house is a dream come true. The comfort and security of living in ones owned house is unparalleled. However, purchasing a house can be unaffordable, given the whooping property price rises in the last decade or so. What has come in handy today to own a home is easy availability of home loans at affordable interest rates. A house loan or home loan simply means you borrow a sum of money from a bank or financial institution to purchase or construct a house against the mortgage of your home. The repayment can be done in affordable EMIs to be paid regularly over the loan tenure which can range from 1 to 30 years depending on the borrower’s eligibility.

How to apply for a home loan through MyLoanCare.in?

Here are the simple steps through which you can apply for a home loan :

  • Step 1: Visit MyLoanCare.in or download the app to check and compare loan offers from top banks and NBFC in India.
  • Step 2: To apply for a home loan, fill in your personal and loan requirement details.
  • Step 3: Once you fill the form, you can check and select the loan offers that are best suited for you in terms of interest rates, processing fees and eligibility.
  • Step 4: Post this, a MyLoanCare representative from home loan department will contact you to verify your eligibility and discuss your loan requirements. Based on the discussion, he/she will suggest the right banks and loan offers to you and also explain the complete home loan process and documents required.
  • Step 5: If you are eligible and interested, our representative will fix an appointment with the bank for document pick-up and further loan process. A bank's representative will contact you and will initiate a verification process.
  • Step 6: After verification of your income and property documents and based on your credit history and eligibility, the bank will decide to sanction or reject your loan. If sanctioned, you will receive a sanction letter from the bank mentioning the key loan terms including interest rate, processing fees, tenure, prepayment charges.
  • Step 7: Once you receive the sanction letter, the legal process of registering the loan agreement as well hand over the original property documents to the bank will be completed. Post this, the sanctioned loan amount will be disbursed to your bank account. Before you apply for a home loan, make sure to check your eligibility to ascertain the right loan amount and tenure based on the amount of monthly EMIs you can service based on your current income You can use the online eligibility calculator at our website for detailed information and then apply for the loan.


How to fill the home loan application form?

You can fill the home loan application, either online or offline. In online methods, you can choose to fill the form on the website of a bank or a loan marketplace platform. Alternatively, you can visit the home loan branch of the bank and fill the form there.

What are the documents required for a housing loan?

The common documents required for both salaried and self-employed are: Identity proof, address proof, property sale deed, property transfer document/ownership document, bank statement of last 6 months. In case of salaried, salary slip of last 6 months is also required. While in the case of self-employed, last 2 years ITR and financial statements are needed along with business registration certificate and business address proof.

Is a co-applicant necessary for a home loan?

Having a co-applicant is not necessary for a home loan. However, adding a co-applicant who is also earning income can significantly raise the amount for which you are eligible.

Why MyLoanCare???

Nowadays, almost all banks offer attractive schemes on Home Loan at competitive rates with many customer friendly features. You can do rates comparison, check your eligibility, calculate EMI, apply online and get the best Home Loan rates. MyLoanCare helps you throughout the loan process from the day you apply to the time you get disbursement. You can register with us, track your loan status on a regular basis and get an option to earn attractive cashbacks and refer and earn benefits.

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Home Loan News - Jan 2022
  • 2022-01-21 : Properties to Get Costlier in Gurgaon as New Circle Rates Come into Effect
    The circle rates have been hiked for Golf Course Road, Golf Course Extension Road, Sohna Road, and Dwarka Expressway projects. As a result, homebuyers will have to shell out more money to purchase property, particularly in some upscale areas.
  • 2022-01-21 : PNB Housing Finance Announces Net profit for Q3
    PNB Housing Finance Limited (PNBHFL) has reported a 19 per cent decline in net profit for the quarter ended December 31, 2021, at ₹188 crores compared to ₹232 crores recorded in the same quarter in the previous fiscal.
  • 2022-01-20 : PFC and REC Reduce Lending rates
    The State-run PFC and REC have reduced their lending rates across all types of loans by 40 basis points (bps). The move will help power utilities raise loans at cheaper rates. Also, the power sector non-banking financial companies (NBFC) have already been offering short term loans at a 6.25 per cent interest rate.
  • 2022-01-20 : Union Lenders Approves Reimbursement Amount of ₹974 cr for Pandemic Loan Moratorium.
    The Union Cabinet has approved a sanction of ₹973.74 crores for lenders to reimburse the loan moratorium. Earlier, on March 27, 2020, the Reserve Bank of India (RBI) had announced a loan moratorium on payment of instalments of term loans falling due between March 1 and May 31, 2020, due to the pandemic, which was extended to August 31.
  • 2022-01-19 : Bajaj Home Finance Revises Home Loan Interest Rates
    Bajaj Home Finance has decreased home loan rates, and as a result, you can avail of a home loan at the lowest rates starting at 6.65%.
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