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Home Loan Application

Home Loan Online Application - Features & Benefits

Last Updated 24th Sep 2020

  • Home loan interest rate starting @ 6.95 %.
  • Special discount on home loan rates for women borrowers.
  • Lowest EMI per lakh of ₹ 662 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.

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

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

  • Step 1: Visit 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.

Related Topics
Latest Blogs
Home Loan News - Sep 2020
  • 2020-09-22 : SBI offers up to 2 years repayment relief for home and retail loans
    State Bank of India announced the option to choose either a moratorium of up to 24 months or reschedule the instalments and extend the tenure by a period equivalent to the moratorium granted, for its retail customers. ​​​The bank is aiming to assist the customers amid the COVID 19 and economic slowdown.
  • 2020-09-21 : ICICI Bank launches Home Utsav
    ICICI Bank launched Home Utsav, a virtual property exhibition. The scheme will digitally showcase real estate projects by renowned developers from key cities across the country. Individuals will get exclusive benefits of low home loan interest rates, special processing fees, and as well as the digital sanction of loans.
  • 2020-09-21 : HDFC sanctions Rs 47K cr home loans to over 2 lakh homebuyers under govt’s CLSS
    Affordable home loans and loans linked credit subsidy scheme of the government targeted at lower and middle income segments have been growing steadily for HDFC. It has dissbursed more than 47k home loans under the government’s Pradhan Mantri Awas Yojana (PMAY) scheme in the past six months, including five months of lockdown period.
  • 2020-09-21 : ICICI Home Finance launched home loan scheme for skilled workers in Delhi
    ICICI Home Finance launched a new loan scheme ‘Apna Ghar Dreamz’, with credit amount in the range of Rs 2 lakh to 50 lakh, for skilled workers employed in the informal sector in Delhi. The scheme is aiming skilled workers such as carpenters, plumbers, electricians, tailors, painters, welders, auto mechanics, manufacturing machine operators, computer mechanics, RO repair technicians, small and medium business owners and grocery store owners in the city.
  • 2020-09-18 : PSBs overtake private banks in 2020
    Public sector banks overtook private sector banks in offering retail loans like home, personal, gold, car, two-wheeler and education loan along with business and mudra loans. Since December 2019, PSBs overall lending has gone up to 57.7% as of June 2020, which is a jump of as much as 60 bpsover six months. During the same period, the share of private banks in overall lending has come down by 60 bps to 34.4%. The share of total loans outstanding that private banks have lost has been taken over by state-owned lenders.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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