Nasamon Consultants : Home Loan

Nasamon is an innovative one-stop-shop for all your financial needs, including Home Loans, Personal Loans, Credit Cards, Business Loans, Insurance ,Balance Transfers and more.

Home Loan FeaturesL

Attractive Interest Rates

Minimal Documentation

30 Years of Tenure

Features and Benefits of our Home Loan

A vast array of institutions offer you the best home loan rates at the most competitive rates and affordable EMIs.

Home Construction Loan: If you have a plot of land and lack financial support to construct a home on that piece of property, you may choose a house construction loan. Such borrowing is mainly made to construct or repair a major part of your home.

Home Extension Loan: Should you already own a home, and feel the need to extend the building, add an annexe, or build another floor, etc., Home Extension Loan is your go-to option that finances such needs.

Home Improvement Loan: All of us wish to improve and upgrade our homes for a better life. From your old-age furniture, fixtures to faulty lightning systems, Home Improvement Loan funds all your plans.

NRI Home Loan: If you are a patriot, a Non-Resident Indian, and wish to own residential property in India, NRI Home Loan is your answer. Though the formalities for application may be a little different.

Home Loan Eligibility

The basic home loan eligibility criteria are as follows:

Age:

• You must be above 21 years of age at the time of the commencing of your loan, and up to 65 years or less at loan maturity
• Salaried Person - 21 years to 58 years
• Self-Employed Person - 25 years to 65 years

Income:

• Salaried Person - Minimum Rs. 10,000 per month
• Self-Employed Person - Minimum Rs. 2,00,000 per year

Employment:

• Salaried Person - Minimum 2 to 3 years of Experience in MNC, or a Private or Public Limited Company
• Self-Employed Person - Minimum 3 years of Experience in the current field

Credit Score:

• A credit score of 750 is considered a good score for approval.

Documentation for Home Loan

Income Proof Documents

1. Salaried Individuals

Form 16

Employee Identity Card

3 Months Salary Slip

6 Month Bank Account Statement

Duration of Employment Evidence

2. Self-Employed Individuals

PAN

Trade License

Partnership Deed

Article of Association

Memorandum of Association

Import Export Code

Memorandum of Association

SEBI Registration Certificate

Balance Sheet

6 Months Bank Account Statement

Professional Practice License for Doctors, Consultants, etc

Registration Certificate of Establishment for Shops, Factories, and Other Establishments

Business Address Proof

Financial Statement Audited by CA

3. Documents Required from all Non-Resident Indians (NRIs) Applicants

Income Proof Documents for NRI

Property Papers

Property Documents

Sale Deed

Stamped Agreement of Sale

Allotment Letter

No Objection Certificate or NOC

Housing Societyd

Builder

Possession Certificate

Land Tax Receipt

Construction Cost Estimate

Bank Account Statement of Payment Made to Seller or Builder

Payment Receipt of Payment Made to Seller or Builder

Incase of resale property share certificate is required

Occupancy Certificate

EMI Calculator for Home Loan

The monthly part-payment that you make to repay your Home Loan is known as an Equated Monthly Instalment (EMI). This monthly payment includes repayment of the principal amount of your loan divided over the period of the loan, with the agreed interest amount on the outstanding amount of your home loan. Ruloans online Home Loan EMI Calculator is essential to make an up-to-date decision to execute your Home Loan Plan at optimum levels. This EMI calculator online aids you to perform complex computing functions to calculate your Home Loan Equated Monthly Instalment accurately in an instant.

Fees and Charges for Home Loan

The fees and charges of home loans usually vary from lender to lender and from case to case. The aforementioned table will give you a fair idea of the fees and charges related to home loans:

Particulars Charges

Loan Processing Fees:- 0.5% to 4% of Loan Amount
Loan Cancellation:- Usually 3000 to 5% of Loan Amount
Stamp Duty Charges:- s per the Value of the Property and State Tax
Legal Fees:- As per actual
Penal Charges:-Usually 2% per month
EMI / Cheque Bonus:- Approx 499/- to 599/-

Other fees and charges that lenders may levy on your personal loan include documentation charges, verification charges, duplicate statement charges, NOC certificate charges and swap.