Home Loan in Mumbai

Last Updated : Sept. 28, 2019, 12:06 p.m.

Best Home Loan Interest Rates in Mumbai with Branch Addresses

Have a look at the best home loan providers in Mumbai with their interest rate and the main branch address in case you want to contact. You can thus compare the rates or even calculate the EMI with the help of a home loan calculator Mumbai and then apply for the suitable deal.

Apply Home Loan @ 8.65%* Rate

Eligibility Criteria

• For salaried, the minimum age by which they can apply for a home loan is 21 years. The maximum permitted for them at maturity is not more than 58 years. Self-employed can apply after attaining the age of 24 years and must ensure his/her age does not go past 65 years at the time of loan maturity.
• Salaried and self-employed should earn an annual income of ₹ 1,80,000 and ₹ 1,80,000-3,00,000, respectively, to get the lender’s nod for a home loan .
• As far as job stability factor is concerned, salaried professionals must make sure they have worked for a total of 2 years with a minimum of 1 year with the current employer. But if you are a self-employed, you have to be in the business for atleast 3 years.

Documentation

• Proof of Identity- PAN Card/Driving license/ Voter ID/Passport/Aadhar Card
• Proof of address- Passport/Utility bill/Voter ID/Aadhar Card
• Proof of Income- Last 3-month Salary Slip/ ITR/Form-16
• Bank Statement- Last 3-6 Month Bank Statement
• Property Documents- Agreement Sale Copy, Certificate of Possession, Land Tax Receipt, Detailed Cost Break-up of Construction, Letter of allotment, Original NOC

Home Loan in Mumbai Details

About Home Loan in Mumbai

‘Aamchi Mumbai’ is the word people normally use to address the dream city of India, previously called as Bombay. The city never sleeps as it keeps on running 24X7. Being the largest city in terms of population, Mumbai is the commercial capital of India with a large number of top corporates ruling the roost here. Mumbai contributes around 6% to the nation’s GDP and accounts for a 10% share in the overall factory employment in India. Almost 25% of the country’s industrial output comes from Mumbai.

Don’t you like to own a home in a city that presents opportunity galore? I am sure, you would like to. But, how can you buy a home in Mumbai? It can be done by availing a home loan from either a bank or a housing finance company. You can apply for a home loan to serve various purposes like buying a new or resale flat, purchasing a land to construct a house on the same, extend or renovate an existing home.