Home Loans in Mumbai
Living in Mumbai is everyone’s dream. After all, where would you find a city that has so much to offer? Be it the charm of Bollywood, or the fact that Mumbai is the financial capital of India or the need to be a part of one of the fastest growing cities in the world. Mumbai has something to offer to everyone. However, when people do get a chance to live this dream, they soon realize that it isn’t easy to keep up with the high cost of living in Mumbai. This is where Housing Loans in Mumbai come into the picture. Shreeji Lending helps you avail home loans in Mumbai at super affordable interest rates.
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Types of Home Loans in Mumbai
When it comes to home loans in Mumbai, you will find a lot of variety to choose from, based on your needs and requirements. These loans can be classified based on the purpose of home loan. Some people need a home loan for construction purpose, whereas others might need a home loan for purchasing land/property for home. Here are the major types of home loans available in Mumbai.
Home Extension Loan
A home extension loan covers the extension of an already built home. For instance, construction of a room or a floor.
Home Construction Loan
A home construction loan covers the construction of a house on an already owned plot or land.
Home Purchase Loan
A home purchase loan covers the buying of a residential property such as an apartment or a penthouse.
Top-Up Home Loan
A top-up home loan covers the amount required in addition to an already existing home loan.
Land Purchase Loan
A land purchase loan covers the amount required to buy a property for construction of a house. In this case, the house construction must be done within a certain time.
Home Loan Balance Transfer
A home loan balance transfer enables people to transfer their existing home loan amount to another lender. This may be done due to reduce interest rates, etc.
Features of Home Loan
Flexible Tenure
At Shreeji Lending, we understand that home loan is both a facility and a liability. Thus, to ensure smooth repayment from your end, we offer flexible tenure. You can repay your loan amount from abc months to xyz months as per your convenience.
Minimal Paperwork
Usually housing loans and all kinds of loans demand heavy paperwork formalities. However, we have shortened the lengthy process of documentation and paperwork for you. Thus, you can apply for home loan in Mumbai with minimal paperwork with Shreeji Lending. Moreover, we ensure hassle-free application procedure to shorten the application time.
Online Application
We offer an online procedure for home loan application. In just a few simple steps you can apply for a home loan. Likewise, our experts make sure that your application is up to the mark so that the chances of your home loan approval are high.
Foreclosure and Part-prepayment Facility
We have made home loan repayment easy and convenient for you. With Shreeji Lending, you can apply for and avail extra facilities such as part-prepayment facility and home loan foreclosure facility. Thus, you can be sure to repay the amount of your home laon as per your comfort.
Quick Disbursal
We make every effort to ensure that your application process is shortened and your home loan gets approved quickly. This, in turn, ensures that your home loan amount reflects in your bank account as soon as xyz working days.
How to Apply for a Home Loan?
- Fill out the form
- Upload and submit the scanned copies of the required documents
- Our experts will get in touch with you to walk you through the rest of the process
Eligibility for Home Loan
Document Required
- Age Limit for Salaried Individuals: 21 to 65 years .
- Age Limit for Self-Employed Individuals: 21 to 65 years.
- Minimum Salary: ₹10,000 p.m.
- Minimum business income: ₹2 lac p.a.
- Maximum Loan Term: 30 years.
- Financial Position: The present and the future income of applicant(s) has a significant impact on determining the loan amount.
Matric certificate, Driver’s License, Voter ID Card, College Mark Sheet, Birth Certificate
Bank statements, ITR Documents, Salary SLips, Form 16
Voter ID Card, Government-issued ID cards, PAN Card, Aadhar Card
Gas Bill, Electricity Bill, Water Bill, Driver’s License, Passport
Eligibility for Home Loan
- Age Limit for Salaried Individuals: 21 to 65 years .
- Age Limit for Self-Employed Individuals: 21 to 65 years.
- Minimum Salary: ₹10,000 p.m.
- Minimum business income: ₹2 lac p.a.
- Maximum Loan Term: 30 years.
- Financial Position: The present and the future income of applicant(s) has a significant impact on determining the loan amount.
Documents Required
Matric certificate, Driver’s License, Voter ID Card, College Mark Sheet, Birth Certificate
Bank statements, ITR Documents, Salary SLips, Form 16
Voter ID Card, Government-issued ID cards, PAN Card, Aadhar Card
Gas Bill, Electricity Bill, Water Bill, Driver’s License, Passport
FAQ About Home Loans
Most frequent questions and answers
The lowest rate of home loan in Mumbai is 6.75% It definitely varies as per the price of the home and the client’s Credit Score.
It takes 2-3 weeks to get a housing loan in Mumbai. In some cases it is also possible to get a housing loan in mumbai in 1 week.
Minimum income requirement to get a home loan in Mumbai is 75,000 per month