A home loan is a type of secured loan in which a borrower receives the loan, and the property is used as collateral for the amount borrowed. A Home Loan is used to purchase a built or under construction house, for renovations, or a plot of land where a borrower plans to build a property.
You then repay a portion of the principal amount, as well as the interest, through EMIs each month. The interest and principal components are both tax deductible. When you repay the principal and interest in full at the end of the tenor, you get entire ownership of the property.
Helping You Before & Beyond Home Loans
Purchasing a house is more than just a financial decision. It is where you build your life, and your decisions should be careful and guided. There are numerous financial banking and non-banking institutions that can assist you in realising your dream of buying a home. However, because it is a complicated procedure with multiple options and layers of costs, most first-time buyers struggle to make the right decision. Our goal at Vaibhav Inc is to help people make informed decisions with the right guidance, saving them time and money.
We stand beside you every step of the way, from identifying your financial need to finding the right banking partner and ensuring a stress-free experience until the loan is disbursed.
Identifying financial needs, finding the best banking partner, and facilitating smooth process until loan disbursement
Assisting with property searches and identifying the best properties for investment or ownership
Using real estate business expertise in finding relevant resale properties in prominent locations on realistic valuations
Helping you find most suitable property from knowledge gained through long term association with small & medium sized builders
Authorised channel partner associations with major banks and institutions such as HDFC, SBI, and TataCapital
Making the complex process of documentation and KYC simpler with relevant and timely information
Determining principal amount that you can borrow for your home. Loan Amount eligibility is calculated on the basis of – CIBIL score, employment type, income and documentation proofs.
The home Loan disbursal happens when the approved amount is transferred to your bank account after verifying your eligibility and validating documentation proof.
Your Equal Monthly Instalment will begin one month after you received your full loan disbursement. You need to make equal, fixed monthly payments to repay your Home Loan.
Loan closure occurs after you have paid off the principal and interest through EMIs up until the end of your loan term. It can also be paid off through prepayment or foreclosure.
We enhance the customer experience by evaluating all market data and consolidating it into a single place for customers to assess and make the most informed decision.
Our experts connect with customers to understand their needs, find the right banking partner, assist with the documentation process, and recommend the best alternatives based on their requirements so they can pick the most appropriate plan for their specific needs.
Typically used to purchase ready-to-move-in properties, under-construction properties, and pre-owned homes/resales.
Loans for the construction of a house on a previously owned plot. The disbursements are determined by the stage of construction of the house.
Loan for the purchase of a land or plot. The first disbursement is made toward the purchase of a plot. Subsequent payments are determined by the stage of the house's construction.
Loan to cover the costs of an existing house's renovation. A home renovation loan and a regular home loan usually have the same interest rate.
Loan for those who need money to expand their current home. Depending on the loan amount and LTV ratio, lenders typically lend 75%-90% of the construction estimate.
Borrowers pay lower EMIs over the initial years of the loan and have the option to increase the EMI amount over time. This makes the loan more affordable for young professionals just starting out in their careers.
The founders of Vaibhav Inc. are very well acquainted with Bangalore's Housing Space and its development over the last few decades. We truly believe that the highest level of expertise is essential as you and your family make one of the most important decisions of your lives.
Interest Rate - 7.55% p.a. Onwards | EMI - Starts at Rs.755/Lakh
Loan Tenure - Up to 30 years | Loan to Value - Up to 90% of Property Value
*Based on customer CIBIL and other ratings, at the HFC’s discretion, subject to their internal policies and criteria.
Applicant Documents for Home Loan
Property Documents for Home Loan
We are associated with the Top Indian Banks & NBFC’s that offer the Best Home Loan Interest Rates
Home Loan Bank - HDFC
Home Loan Bank - SBI
Home Loan HFC - Tata Capital Housing Finance Limited
Home Loan balance transfer happens when the entire balance of a home loan is transferred from one lender to another that offers a lower interest rate. In these situations, the lender who first extended the loan receives the remaining principal balance, and the borrower is now required to make monthly payments at the rate provided by the new lender.
Home Loan Balance Transfer Calculator
A simple online tool that allows you to quickly calculate the total monthly savings you can make by transferring the principal balance on your home loan from one lender to another.
It is calculated using -
You can quickly and easily determine the EMI (including loan interest) that you need to pay each month to repay the home loan amount using a simple and effective online tool called a Home Loan EMI calculator. Results from the online loan calculator are based on the principal amount, interest rate, and tenure.
A home loan is an amount of money borrowed from a financial institution or bank to buy a house. Purchasing a home is one of the most significant investments you will make in our life. We recognise the importance of everyone having a place they can call home.
The following are some of the most common reasons for changes in home loan interest rates:
A loan can be repaid over a period of up to 30 years. This is subject to the borrower's retirement age, or 65 years in the case of a self-employed applicant.
You can decrease the term of your home loan by increasing your EMI or making a partial prepayment of the loan.
The Reserve Bank of India (RBI) has capped the Loan-to-Value (LTV) ratio of housing loans, so you cannot get a loan for the entire property value. According to RBI guidelines, for loan amounts -
Up to Rs 30 lakh - LTV ratio limit is up to 90% of property value
Rs 30 lakh - Rs 75 lakh - LTV ratio limit is up to 80% of property value
Above Rs 75 lakh - LTV ratio limit is up to 75% of property value
This means that the borrower must pay at least 10% of the remaining value as a down payment. Subject to the RBI's LTV ratio caps, banks/HFCs determine the LTV ratio based on the risk assessment and credit profile of the loan applicant. Those with lower credit are typically offered a lower LTV ratio.
Lenders consider home loan applicants' repayment capacity when evaluating their loan application and loan amount eligibility. Home loan lenders typically choose to lend to applicants whose total EMIs, including the EMI of the proposed home loan, are within 50-60% of their monthly earnings. As a result, home loan applicants can use an online home loan EMI calculator to figure out the optimal home loan amount and term based on their repayment capacity.
Lending institutions prefer to grant housing loans to applicants with credit scores between 650-750 or higher because such high credit scores indicate responsible credit behaviour and minimize credit risk for lenders. This also explains why many lenders offer lower home loan interest rates to applicants with higher credit scores.
Book an appointment with our Home Loan Consultants today by filling up the details and get started!
