A home loan is a loan used to buy a home. It is repaid over 15 to 30 years and is secured by the property being purchased. If the borrower fails to repay, the lender can take possession of the property.
You typically qualify based on income, credit score, job stability, and repayment ability.
Yes, most lenders allow part or full prepayment with or without charges based on the terms.
No, banks usually fund 75%-90% of the property value; rest must be paid as down payment.
The amount depends on your income, credit profile, and lender’s internal policies.
Typically required: ID proof, address proof, salary slips, bank statements, Form 16, and property documents.
Yes, most lenders allow joint applications with a spouse or blood relatives. Friends may not be accepted.
Spouse, siblings, parents, or children can be joint borrowers depending on lender’s terms.
