• +91 9873422063
    • info@cubefinancials.com
  • Home Loan And Balance Transfer

    Building your dream house can have several aspects. While some people avail home loans for building a new property on a given plot of land, some might avail a loan to acquire a residential new property and some others might want a loan to improvise on their existing house asset. At CUBE we cater to all such needs under various customized categories.

    • Home Construction Loan is the loan for construction of a house on a given plot of land.
    • Home Improvement Loan caters to loan related to house renovations, extensions or repair of your existing house property.
    • Home Purchase Loan is the loan that is related to purchase of a new residential property.
    • Home Loan Advantage is a loan that is linked to a current account thereby reducing your interest outflow depending on your idle balance in your bank accounts

    Home Loan Eligibility Criteria:

    Home Loan eligibility depends upon various factors. A few of them are listed here –
    • Income – The most important criteria of getting Home Loan is your current income. As a lender banks always looks into the repayment capacity with your current earnings. Normally 50-60% of your monthly income is considered the EMI of the loan amount.
    • Tenure – The amount of EMI is calculated on the basis of Loan Tenor. Longer tenor attracts lower EMI and eventually increase the Loan Amount.
    • Age – Your current age will determine the tenor of the home loan. With increasing the age, the tenor of the loan gets reduced and resulting a lower loan amount.
    • Interest Rate: Banks primarily offers two types of interest on the loan. Either Fixed or Floating Rates of Interest. Lower interest rate reduces the EMI and eligibility of the loan amount increases.
    • Credit Score – Your credit score shows the history of repayment of your all current and previous borrowing, hence determines if you’re eligible for a loan. Credit Score is extremely important for your current loan application.

    Documents Required for Home Loan

    Salaried Customers Self Employed Professionals Self Employed Business Person
    Loan Application form with photograph of all Applicants Loan Application form with photograph of all Applicants Loan Application form with photograph of all Applicants
    Identity and Address Proof Identity and Address Proof (Office and Residence) Identity and Address Proof (Office and Residence)
    Latest Salary-slip Professional Qualifications Certificate and Proof of business existence Proof of business existence and continuity of business proof
    Form 16 Latest 3 years Income Tax returns (self and business) Latest 3 years Income Tax returns (self and business)
      Latest 3 years Profit /Loss and Balance Sheet Latest 3 years Profit /Loss and Balance Sheet
    Last 6 months savings bank statements Latest 6 months bank statements (Savings and Current account) Latest 6 months bank statements ((Savings and Current account))
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