Home Loan


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What is Home Loan?


For many people paying the total cast of the new house in one go is impossible. Here Property Loan or Home Loan gives a big support to buy your new house. Home loan can help you in many ways, it can be helpful for purchasing a new home or constructing an existing residential property.


How to apply for Home Loan?

Advantages of Home Loan?

☞ Lower interest rates as its secured loan.

☞ Helpful for all Home related expenses.

☞ Greater Credit Eligibility.


Minimum Requirements for Home Loan

ANNUAL REVENUE

₹ 50 Lakhs

Credit Score

Time in Business

2 Years


Documents required for Home Loan

PAN CARD/PASSPORT

PROCESSING FEE CHEQUE

BANK STATEMENT

CREDIT SCORE

AADHAR CARD/PASSPORT

COPY OF PROPERTY DOCUMENTS

LAST 2 YEARS BALANCE SHEET

LATEST OD/CC SANCTION LETTER

INCOME TAX RETURN OF LAST 2 YEARS

PROOF OF BUSINESS

PROFIT & LOSS STATEMENT


Frequently asked questions

1.What is Home Loan (HL) EMI?

☞ HL EMI is a defined amount you will pay for repayment of your loan monthly till the loan is completely paid.
☞ However, the EMI amounts stays the same, every month the part of interest keeps coming down and principal keeps on increasing, except when interest rate increases.
☞ Longer the tenure, lower the EMI. HL tenure in India ranges from 5 years to maximum of 18 years.

2. Benefit of paying Home Loan EMI through ECS?

☞ Key benefit of paying Home Loan EMI through ECS is that, there is no signature mismatch risk for cheque bouncing or any other technical issue. Note heavy cheque bouncing charges are charged by the banks even for technical bounce and therefore, it is advisable to avoid this risk by availing ECS mode of debit.

3.How is the Home Loan EMI Calculated?

☞ Basic method is applied for calculating the EMI. Its, bigger the loan amount, higher will be the EMI, smaller the loan, lower the EMI. Larger the loan tenure, smaller the EMI.

4.How does Home Loan or Property Loan works?

☞ To buy the new home you take a property loan or home loan. The developer of the property is paid the cost of the home according to the payment plan by the lender. the borrower in turn pays EMIs which is spread over the tenure of the loan.

5.Who Qualifies for Home Loan?

☞ Your income, savings, debt obligations are considered.
☞ Cost/value of the property against which you want loan are considered
☞ Your track record for other loans, credit cards repayments are considered
See if you qualify

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What our clients are saying?

1000+ Happy customers trust LoanRaahi Services

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Best customer service!!

I am very satisfied with the services and business relation with LoanRaahi. It was easy and simple to get any information regarding loan from them. Timely disburse of loan and well described loan application are the key highlight of the company.

Akshat Jain, Owner, Flexipipes Pvt. Ltd.

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Great Service & Speed!!

I had taken loan for the first time online. Instant assistance and patience from team LoanRaahi helped me apply and get loan easily. Will definitely recommend LoanRaahi for online loan.

Shikha Bhatia,
Founder, Shiksha Learning Academy

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Lean and Simple Process!!

I had to just fill 1-one at LoanRaahi. They automatically searched across 50+ partner banks and NBFCs and gave the best deal to me. They saved me a lot of effort and cost.

Nitin Bhatia, COO, CaterWow Pvt. Ltd.