Eligibility, down payment planning, fixed versus floating rates and the documents lenders actually ask for — explained simply.
Start with landed cost, not loan amount
Lenders finance a percentage of the agreement value, not your total outgo. Stamp duty, registration, GST where applicable, parking, club charges and interiors are paid from your own funds, so budget them upfront.
How eligibility is assessed
Most lenders keep total EMI obligations within a comfortable share of your net monthly income, then factor in credit score, employment stability and existing loans. Adding a co-applicant with independent income is the fastest way to improve eligibility.
- Maintain a healthy credit score before applying
- Close small unsecured loans that compress eligibility
- Consider a co-applicant to raise the sanction limit
Fixed, floating or hybrid
Floating rates track a benchmark and usually start lower; fixed rates buy certainty at a premium. If you expect to prepay aggressively in the early years, floating with no prepayment penalty is generally the more flexible structure.
Documents to keep ready
Identity and address proof, income proof for the last three to six months, two to three years of tax returns or Form 16, bank statements, and the project documents shared by the developer.
Official references
- RBI — Housing loan guidelines for banks
Reserve Bank of India master circular covering loan-to-value norms, disbursement rules and lender obligations on housing finance.
- National Housing Bank (NHB)
Regulator for housing finance companies — useful for checking whether a lender is registered before you apply.
Explore projects we market
Verified residential and commercial projects across Gurgaon and Faridabad.
