A home has a special place in our lives turning once dream into reality. Home Loan is mostly used for purchase of new home or property.
Finactt Consultancy specializes in providing Expert legal and technical counselling to help you make the right home buying decision.
| Sr.No | PARTICULARS | PURPOSE | SPECIAL SCHEME |
|---|---|---|---|
| 1 | New Home Loan for purchase | New Home purchased directly from builder which includes flats (under construction projects or ready to move), Row House and Bunglow. |
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| 2 | Resale Home Loan | Home purchased from existing owner of the house. |
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| 3 | Home Loan for person ineligible under normal scheme |
Existing and New loan for person not eligible under normal scheme at nominal fees.
Other important features*: - Loans to applicants working in unapproved or lesser known organisations like SME/MSME or partnership/proprietorship/ closely held companies/firms. -Loans to applicants where part of the salary includes cash component like OT/Incentive/Bonus/ Other reimbursements not forming part of CTC. -Special term benefits (Age considered upto 75 years) to government employees eligible for pension and self-employed individuals. * Terms and condition apply. |
Credit Guarantee Scheme |
| 4 | Home Improvement Loans | Repair and Renovation of existing home. | Renovation loan at Home loan rate. Max loan upto 90% of property value. |
| 5 | Home Loan Takeover | Takeover of existing loan for better rate of Interest and/or additional loan. |
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| 6 | Top up Loan | Additional loan on existing loan. | Top up Loan at best rate |
| 7 | Home Saver Loan. | Eg. If you have loan of 1 crore and 10 lakhs is kept in saving account, interest on loan will be charged only on 90 lakhs. | Home loan overdraft by linking it to saving bank account. |
| 8 | Affordable Housing | The Government of India is working extensively towards achieving its goal of housing for all by 2022 through its scheme called Pradhan Mantri Awas Yojana. We understand the need of our customer from lower and middle income group, and help them avail home loan for purchase of house under affordable housing scheme. | Maximum subsidy upto 2.67 lacs under PMAY |
1. Home loan provides Tax benefits pertaining to Sec 80 C & Sec 24 based on latest Tax laws, which are subject to change from time to time. Please keep track of all IT law amendments to stay on top of how your Home Loan affects your tax liability.
2. The maximum rebate allowed u/s 80C of Income Tax is Rs.1,50,000/-. The principal paid on the Home Loan is one of the eligible saving components of 80 C.
3. The maximum rebate allowed u/s 24 of Income Tax is subject to the property being Self-occupied or Rented out. Self-occupied property carries a cap of 2 Lakhs as eligible rebate, while Rented out property has no limit.
4. Income Tax laws offer additional rebate for 1st time property buyer whose loan quantum being less than 35 Lakhs & Property value being less than 50 Lakhs, by the way of Rs.50,000 additional eligible rebate on the Interest paid u/s 80 EE. This is over and above the usual eligible Interest paid rebate on the Home Loan.
5. For Under Construction property, the Pre-EMI paid till the period of completion of the project can be claimed as Interest Rebate in 5 equal instalments after the property being handed over.
6. The above figures are for indicative purposes, please consult a tax consultant for doing an actual tax planning.
Your loan application form must be accompanied by:
| SR.NO | SALARIED EMPLOYEES | SELF EMPLOYED/PROFESSIONALS |
|---|---|---|
| 1 | Duly filled Application Form and KYC form with 2 photograph. | Duly filled Application and KYC Form along with 2 photograph. |
| 2 | Identity Proof (PAN Card, Passport, Aadhar Card Any Other Certificate from Statutory Authority) | Identity Proof (PAN Card, Passport, Aadhar Card Any Other Certificate from Statutory Authority) |
| 3 | Residence proof ( Passport, Driving License, Telephone bill, Ration Card, Election Card, Aadhar Card Any Other Certificate from Statutory Authority) | Residence proof ( Passport, Driving License, Telephone bill, Ration Card, Election Card, Aadhar Card Any Other Certificate from Statutory Authority) |
| 4 | Education Qualifications – Latest Degree | Education Qualifications – Latest Degree (For Professionals) |
| 5 | Latest Appointment Letter and salary slip for last 6 months. | Certificate Proof of business existence along with business profile( GST Registration/ PAN Card/ Gumasta etc.) |
| 6 | Form 16 for last 2 years | Last 3 years -ITR Acknowledgement, computation (self and business) and audited/certified profit and Loss Account & Balance Sheet. Form 26AS Last 3 Years. |
| 7 | Last 6 months bank statements (Salary Account) | Last 12 months bank A/C statements (Self & Business) |
| 8 | Processing Fee by Cheque | Processing Fee by Cheque |
| 9 | Photocopy of Title Documents of the Property, Chain of documents, CC/OC, Approved plan, NOC from builder Etc. | Photocopy of Title Documents of the Property, Approved Plan, NOC from builder/Society etc |
| 10 | If any previous loan than loan A/c statement for last 1 year along with sanction letter. | If any previous loan than loan A/c statement for last 1 year along with sanction letter. |
| 11 | Exisitng loan sanction letter and track record | Exisitng loan sanction letter and track record |
Submit your Loan requirements by filling below application form
Finactt Consultancy offers you all type of loans such as Home Loans, Loan Against Property, Business Loans, Personal Loans, Balance Transfer expeditiously at the most competitive rates. 1B, Mayur Apartment, Dadabhai Cross road No 3, Vile Parle (W), Mumbai 400 056
