Owning a Home is a dream for many Individuals and Families. However, the High Cost of real estate in Delhi NCR often makes it difficult to fulfill this dream without financial assistance. If the Property & Profile are doable, generally all Banks and HFCs are ready to offer Home loan to fulfil your dream, but when there is a trouble with the applicant’s Profile or Property, most of the Banks & HFCs refuse to sanction loan & reject file. This is where Tricky Loan comes in handy, which assist to get the Home Loan easily by sorting out the applicant’s Profile and Property troubles.
Home Loan on GPA Property in Delhi NCR
General Power of Attorney (GPA) is not a valid instrument to transfer property titles. A Sale Deed is required to be done to transfer the title of the property in which process the buyer has to pay stamp duty and registration charges. Buying and selling of property through General Power of Attorney (GPA) is very popular in Delhi NCR as in other parts of the country. Since there is no absolute transfer of title to the property in this process, a property purchased through a General Power of Attorney (GPA) is not considered a Secured Mortgage. This is the reason why most of the Banks or HFCs do not provide Home Loan on GPA property.
In view of the increasing demand for Home Loan on GPA Property in Delhi NCR, there are some HFCs which have started providing Home Loan on GPA Property with certain rules and conditions (i.e. – Subject to Sale Deed). You can use the Financial Assistance Services of Tricky Loan by Submitting the Instant Personalized Offer Form given below and get Hassle Free & Easy Home Loan on GPA Property.
Home Loan on Lal Dora Property in Delhi NCR
If you have land in Lal Dora Area or want to buy property in Lal Dora Area then it is very difficult for you to get a loan on such property. Most Banks and large HFCs do not offer Home Loan on Lal Dora Property in Delhi NCR. Banks usually have very stringent policies regarding loans on property and even a slight deviation from their policy can cause banks to reject your loan application. The main reason for Banks not providing Home Loan on Lal Dora Property is the lack of Municipal Approved Maps, Clear Title Deed, Permitted Construction etc.
Looking at the growing demand for Home Loans against Lal Dora Property in Delhi NCR, there are some HFCs who have started providing Home Loan on Lal Dora Property with certain terms and conditions (i.e. – 13 Years clear Title, Lal Dora Certificate, Khasra-Khatauni & Sijra). You can access the Financial Assistance Services of Tricky Loan by Submitting the Instant Personalized Offer Form given below and avail Hassle Free and Easy Home Loan on Lal Dora Property.
Home Loan without Income Proof (Salary Slip/ITR)
Borrowing a Home Loan without Income Proof is not rare, but it is definitely difficult and it requires a lot of convincing, explaining and patience. Income proof is essential to determine the repayment capacity of the borrower. Since the Home Loan is a secured loan, most of the Banks or HFCs assess the repayment capacity of the borrower before granting the Home Loan. To avail Home Loan without Income Proof, you may need to fulfill other requirements like add a co-applicant, choose lower loan to value, justify why you do not have the necessary documents.
In view of the increasing demand for Home Loan without Salary Slip, ITR or GST, there are some HFCs which provides loan by calculating the borrower’s raw income, rental income, co-applicant’s income, freelance income, cattle income, pension income, part time job income etc. You can use the Financial Assistance Services of Tricky Loan by Submitting the Instant Personalized Offer Form given below and get Hassle Free & Easy Home Loan without Income Proof.
Home Loan on Freehold Property without Map
In order to offer a Home Loan on Freehold Property, All Banks and HFCs must ask the applicant for the Approved Sanction Plan or Map of the property. Before providing the sanction letter to the applicant, the Banks or HFCs checks with the appraiser on its panel to see if the property has been constructed in accordance with the laws and approved maps. If the property is not constructed as per the approved map, the Banks or HFCs may reject the loan application.
However, there are many freehold properties in Delhi NCR where the approved map is not available due to various reasons such as the property being very old, approved map missing etc. Nevertheless, there are Some HFCs who offer Home Loans even without a map of the freehold property with certain terms and conditions (i.e.- Lost Docs Indemnity, NOC). You can use the Financial Assistance Services of Tricky Loan by Submitting the Instant Personalized Offer Form given below and get Hassle Free & Easy Home Loan on Freehold Property without Map.
Home Loan on Bachcha Flat in Delhi NCR
Bacha flat is a residential flat built in stilt parking area. Generally, it is mentioned in the Sale Deed as ground floor stilt parking. Since this residential unit is not mentioned in the Approved / Construction Map and is constructed in the designated area for parking in violation of the rules, the lending institution counts it as ground floor and does not offer Home Loan on it. But, there are some HFCs which cover the risk and offer Home Loans against such properties. Home loan on Bachcha Flat definitely carries a slightly higher rate of interest than usual. To apply for a Home loan on Bachcha Flat built in a stilt parking area, fill up the Instant Personalized Offer Form given below and submit.
Home Loan on Stone Slab (Kadi Pathar) Roof
Generally Banks and leading HFCs do not offer Home Loans on properties having Stone Slabs (Kadi Pathar) Roof. In such a case, Banks or HFCs do not value a property with a Stone Slabs (Kadi Pathar) Roof as a building. The building value is taken as zero in the valuation of such property and the loan is given for the purchase of the property as well as for the construction of the building so as to make the property livable and secure mortgage. But there are some HFCs who offer Home Loan against Stone Slabs (Kadi Pathar) Roof property by covering the risk. The home loan interest rate on a property with a Stone Slabs (Kadi Pathar) Roof is definitely a bit higher than normal. To apply for a Home loan on Stone Slabs (Kadi Pathar) Roof house or flat, fill up the Instant Personalized Offer Form given below and submit.
Home Loan for Low Cibil Score (Bad Cibil)
While granting a Home Loan, Banks or HFCs consider the applicant’s CIBIL Score and Report as one of the most important factors to access their eligibility for the Home Loan. It assures the Banks or HFCs that the individual is capable of repaying the Home Loan given to him. The higher the CIBIL score, the higher the chances of the individual getting a Home Loan and the lower the CIBIL score, the lower the chances of the individual getting a Home Loan. Also, An Applicant with a low CIBIL Score (Bad Cibil) is more likely to get his loan application rejected.
In view of the increasing demand for Home Loans by applicants with Low CIBIL Score (Bad CIBIL), there are some Banks and HFCs who have started offering Home Loans to applicants with Low CIBIL Scores (Bad CIBIL) with a few more terms and conditions (i.e. Registered Mortgage, IMGC Assurance Guarantee, Lower Loan to Value, Extra Personal Guarantor). You can access the Financial Assistance Services of Tricky Loan by Submitting the Instant Personalized Offer Form given below and avail Hassle Free and Easy Home Loan for Low CIBIL Score (Bad Cibil).
Documents Required for Home Loan in Delhi NCR
To apply for a Home Loan in Delhi NCR, borrowers need to provide the following documents :-
- Identity Proof :- Applicant, Co-applicant Pan Card Copy
- Address Proof :- Any government-issued document such as Aadhaar Card, Utility Bill, Passport, Voter ID or Company Registration Certificate etc.
- Income Proof :- Three months salary slip with Form-16 and for Business Owner One year GST Return, Two years ITR with Financial.
- Bank Statement :- The borrower needs to submit a bank statement for the last 12 months to establish the financial position of the employment or business.
- Property Documents :- Minimum 13 years property chain with current Title Deed, Allotment Letter, Possession Letter, Khasra-Khatauni, Construction Estimate, Map, Floor Plan, Route Sketch etc.
- Login Fee :- Login Fee may vary slightly from one financial institution to another. Generally, takes Rs.5900/-
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Frequently Asked Questions (FAQs)
- What is the minimum credit score required to qualify for a home loan ?
The minimum credit score requirement for a home loan in India varies among lenders. Generally, a credit score of 650 or above is considered favorable for obtaining a home loan. However, some lenders may have more flexible criteria, and it’s advisable to check with different lenders to understand their specific credit score requirements.
2. What is the maximum loan amount I can avail for a home loan ?
The maximum loan amount you can avail for a home loan depends on several factors, including your income, repayment capacity, the value of the property, and the loan-to-value ratio offered by the lender. Typically, lenders offer home loans with loan-to-value ratios ranging from 75% to 90%, meaning you can avail a loan amount of 75% to 90% of the property’s value.
3. What are the interest rate options available for home loans ?
The interest rates for home loans can be either fixed or floating. Fixed interest rates remain constant throughout the loan tenure, providing stability in monthly repayments. On the other hand, floating interest rates are subject to market fluctuations and can change periodically. It’s essential to compare interest rates offered by different lenders and evaluate the pros and cons of fixed and floating rates based on your financial goals and risk tolerance.
4. Can I get a home loan on a GPA property in Delhi NCR ?
Obtaining a home loan on a GPA (General Power of Attorney) property in Delhi NCR can be challenging. Many banks and financial institutions have strict policies regarding GPA properties due to the legal complexities involved. However, some housing finance companies and NBFCs may consider providing loans on GPA properties, subject to specific conditions and scrutiny of the property’s legality and documentation.
5. What are the documentation requirements for a home loan on a GPA property in Delhi NCR ?
The documentation requirements for a home loan on a GPA property can vary among lenders. Typically, you would need to provide documents such as the registered GPA document, the property’s title deed, the property tax receipts, the sale agreement, the possession letter, and any other relevant documents that establish the legality and ownership of the property.
6. What are the potential challenges or risks associated with a home loan on a GPA property ?
Getting a home loan on a GPA property in Delhi NCR involves certain risks and challenges. One of the primary concerns is the legal validity of the GPA itself, as it may not be recognized as a valid title document in certain cases. Additionally, the property’s resale value and marketability may be affected due to the legal uncertainties associated with GPA properties.
7. Can I avail a home loan on Lal Dora property in Delhi NCR ?
Availing a home loan on Lal Dora property in Delhi NCR can be challenging as Lal Dora land is typically categorized as agricultural or village land and may not have clear legal titles. Banks and traditional lenders often have strict policies regarding lending on Lal Dora properties due to the associated legal complexities. However, some housing finance companies or NBFCs may consider providing loans on Lal Dora properties, subject to thorough scrutiny of the property’s legality and documentation.
8. What are the documentation requirements for a home loan on Lal Dora property in Delhi NCR ?
The documentation requirements for a home loan on Lal Dora property can vary among lenders. Typically, you would need to provide documents such as Lal Dora certificate, revenue records, ownership documents, property tax receipts, and any other relevant documents that establish the legality and ownership of the property.
9. What are the potential challenges or risks associated with a home loan on Lal Dora property ?
Availing a home loan on Lal Dora property in Delhi NCR involves certain risks and challenges. One of the primary concerns is the legal status and recognition of Lal Dora properties, as they are often considered agricultural or village land with limited development rights. These properties may not have clear legal titles, which can affect the resale value and marketability.
10. Is it possible to get a home loan without income proof such as salary slips or income tax returns (ITR) ?
Getting a home loan without income proof can be challenging as lenders typically require proof of income to assess the borrower’s repayment capacity. However, some lenders, especially housing finance companies and NBFCs, may offer alternative options for individuals who are unable to provide traditional income proof. These alternatives may include loans against collateral, co-applicants with income proof, or special loan programs for self-employed individuals.
11. What are the alternative documents or options for obtaining a home loan without income proof ?
If you are unable to provide income proof such as salary slips or ITR, you may explore alternative options to secure a home loan. Some lenders may consider accepting bank statements, business financial statements, rental income proof, or other sources of income as substitutes for traditional income proof. Additionally, providing collateral or having a co-applicant with income proof can increase your chances of approval.
12. What are the potential challenges or risks associated with obtaining a home loan without income proof ?
Obtaining a home loan without income proof can pose certain challenges and risks. Lenders may charge higher interest rates, impose stricter eligibility criteria, or provide a lower loan amount compared to loans with traditional income proof. Additionally, without adequate income documentation, it may be challenging to negotiate favorable loan terms or secure competitive interest rates. It’s important to carefully evaluate the terms and conditions, including interest rates, repayment terms, and any additional charges, before proceeding with a home loan without income proof.
