This document provides information about home loans, including the different types of home loans available and the process for applying for a home loan. The main types of home loans discussed are land purchase loans, home purchase loans, home construction loans, home expansion loans, home improvement loans, and home conversion loans. The document also outlines the typical documents required when applying for a home loan such as salary slips, bank statements, income tax returns, and property documents. It describes the eligibility criteria including minimum age, KYC documents, and discusses the application and approval process. The document promotes CreditNation as a place for getting the best home loans with assistance through all stages of the application process.

1. Home Loans
By CreditNation

2. Introduction:
Kevin MacCloud said: “Building your own house is
about desire, Fantasy. But it’s achievable; anyone can
do it”. He is right, anyone can do it. Nothing is
impossible, not even owning a house. It is certainly
possible for you, to build your own house, without
even worrying about money. How? Well! You plan how
you want to build your house and the Home Loan will
take care of money problem. Home loan is a secured
loan, which you can get from banks and NBFCs to own
a house and house, here means a flat, a row house or a
plot of land. You can even use the home loan for the
construction of a house.

3. Types of loan:
1. Land Purchase Loan: These loans are taken to
buy a plot of land on which a borrower wants to
construct a house.
2. Home purchase loan: These are the most
popular loans as they are behooveful to purchase a
new residential property or an old house from its
previous owners.
3. Home construction loans: These loans are for
those who want to construct a house, instead of
buying an already built house.

4. 4. Home expansion/extension loan: The name
itself shows that these loans are for the purpose of
expanding you existing house.
5. Home improvement loans: These loans are for
those who already own the house but don’t have
enough funds to renovate their house.
6. Home conversion loans: These is for those who
already bought the house, using home loan, but
now want to move or buy another house.
7. NRI home loans: As the name suggest, these
loans are only for non-residents of India.

5. 8. Balance transfer loans: Balance transfer is
transferring your existing loan to another bank for
better rate of interest.
9. Stamp duty loans: Stamp duty loans are
provided to use only for paying off the stamp duty
charges, on purchase of a property.
10. Bridged loans: These loans are for those who
already own a residential property and planning to
buy a new house.

6. Home loan interest rate:
Fixed Interest Rate: As the name suggest, this
interest rate doesn’t fluctuate and remains the
same over the tenure of the loan.
Floating Interest Rate: This interest rate doesn’t
fluctuate and remains the same over the tenure
of the loan.

7. Documents required:
Salaried financial Documents:
•Last 3 month’s salary slip
•6 months bank statement
•Form 16 of last 2 years
Self-Employed financial Documents:
•Bank statement
•Current account statement of last 1 year
•Savings account statement of last 6
months
•Business and residence ownership proof(
Any registration Proof)
•Last 2 years ITR with computation of
income
Property documents:
•Title Deed of the property(existing or purchased) being mortgaged
•NOC from legal owners
•NOC from statutory authority e.g. Co-operative Housing Society
•Stamped and registered agreement of sale between previous owner and
the borrower

8. Eligibility
Age:
1. Minimum age of Applicant 24 years
2.Maximum age at loan Maturity 60 years
KYC:
PAN CARD
AADHAR CARD
VOTER ID
UTILITY BILLS

9. Process to apply:
Home loan application
Discussion with the bank
Bank Investigation
Offer Letter for the loan sanction
Submission of legal documents
Technical Valuation of property
Registration and Signing

10. Perfect place to get the home loan
There are so many banks and NBFCs, offering home loan
that it can be quite confusing to choose which one to go
for and then doing all the formalities can be a pain.
Established in 2014, CreditNation is a growing financial
service provider, where you can get the best Home Loan.
You must be thinking why CreditNation? Because we
assist you throughout the process, so that you can get the
loan without even going anywhere and we provide you all
the transparent information about your application, at
each stage. So, Feel free to contact us for any related
query and we’ll be more than happy to help you.

11. THANK YOU
Created by Bareera CreditNation.in