2. OVERVIEW:
The people of our country are an
asset to us. They earn from salary by
doing a job or earning from profit by
business. The earnings of salaried
people are fixed but the profit of a
business is fluctuated according to the
situation. So, multiple affordable
housing financial providers offer
home loans to self-employed people so
that they can be the owner of their
own houses
3. WHO ARE SELF-EMPLOYED
PEOPLE?
THE TERM “SELF-EMPLOYED” MEANS THAT SOMEONE
EARNS MONEY BY WORKING FOR THEMSELVES, IN ORDER
WORDS, IT’S LIKE BEING A ONE-PERSON BUSINESS”
4. There are two categories of self-
employed people:
PROFESSIONALS: DOCTORS, LAWYERS, ARCHITECTS,
CHARTERED ACCOUNTANTS, ETC.
NON-PROFESSIONAL (BUSINESSPERSON): RETAILERS,
SMALL-SCALE BUSINESS OWNERS, ETC.
5. Home benefits for self-employed
people:
LOWER COST OF FUNDS
LOWER COST OF PURCHASE
FLEXIBILITY AND OVERDRAFT OPTIONS
6. Home loan Criteria for self-
employed people:
LENDERS ARE LENIENT IN THE DOCUMENTATION
PROCESS
CHANGE THE TERMS AND CONDITIONS ACCORDINGLY
MAXIMUM REPAYMENT TENURE
CUSTOMIZE EMI FACILITY
BALANCE TRANSFER FACILITY
7. Required documents for home loans
for self-employed people:
Application form with all required details filled in
Identity proof such as Pan Card, Voters ID Card, Passport
Address proof such as electricity bill, ration card
Income proof documents, if available
Bank passbook or Bank Statements
Property documents if correctly identified
8. in India, many affordable housings financial companies, banks,
and NBFCs provide home loan facilities to self-employed people
which is beneficial for them. And which helps them to purchase
their dream home.
Conclusion
