ITFI Home Loans: Turning Your Dreams Into Reality

Buying a home is the biggest sign of anyone’s success. A house with your nameplate is always everyone’s dream. While real estate in India is touching the sky, buying your dream home can easily be left as a dream only. But don’t worry when ITFI is here to stand by your side and providing Home Loans at the lowest interest rates, you can easily own your dream home. On the one side, home loans are highly selling banking services, on the other hand, it provides all the comfort and convenience to buy your dream home at the prime location of the city without compromising with your choices and needs.

Why Choose ITFI For Home Loans?

At ITFI, we understand the amount of hard work you have put in and the number of hardships and challenges you have faced to reach so far in your life. We provide you all the strength and courage in the form of Easy HOME LOANS to fulfill your dream of owning a home. Your home, a little happy place, tailored with your taste and needs. The ITFI comes with the flexibility and bundle of benefits such as smaller EMIs that can be repaid over a longer tenure, although at the lowest interest rates. Our easy loan application process, doorstep services, 24/7 customer services, and instant approvals, make our name outshine in the industry. Being the largest and trusted Mortgage lenders in India, we proudly helped over 20 lac families to achieve their dream of owning a home.

Types of Home Loans Available At ITFI

  • Home Purchase Loan: If you are planning to buy any residential property but running short of money, the housing loans are the ideal choice that provides you 80-85% of the market value of the house as a loan amount. You can opt for a fixed, hybrid or float interest rate while applying for the housing loan.
  • Land-Purchase Loan: Land-purchase loans are usually provided by both banks and non- banking financial institutions to buy a land/plot on which you want to construct a house. Like a housing loan, you can avail 80-85% of the price of the plot from the bank.
  • Loans for Home Construction: If you want to tailor the architect of the home according to your taste, needs, and style, then apply for "home construction loans". The approval process for this type of loan is different as it considers the value of the plot. The most important clause is that the plot must have been purchased within a year to include the cost of a plot in the loan amount. The amount of loan decided on a rough estimation of the construction cost and can be sanctioned at one go or in multiple installments.
  • Loan For Home Improvement: Want to renovate your house but currently lack the necessary funds to do so? A home renovation loan is available for you at ITFI, which can be used forvarious purposes including painting the exterior or interior of the house, upgrading electrical systems, installing new tiles, waterproofing, plumbing and so on.
  • Home Extension Loan: Whether your family grows or you simply want to enlarge your home, construct a new room or new floor by simply availing the Home Extension Loan at ITFI.

How to Apply For a Personal Loan at ITFI?

    Applying for a New Business Loan at ITFI involves five simple steps :
  • Step 1: Go to the 'Loan Against Property' page on our website and click on the 'Apply Now' button.
  • Step 2: Fill out the personal and financial credentials. Once completed, your eligibility will be checked by our highly proficient loan calculator.
  • Step 3: Once you clear the eligibility, our loan calculator suggests a list of banks and NBFCs that fits your eligibility criteria. From the name of the best financial institutions to interest rates to required documents, that list will include everything.
  • Step 4: By choosing your own choice of the financial institution from the given list you can quickly begin filling the form and upload the required documents as per their requirements.
  • Step 5: After uploading the documents, your application will be sent electronically to the bank you selected. Our team closely works with the loan department and will update you on the exact status via SMS.

ITFI Eligibility Criteria For Home Loan

The eligibility criteria may vary from bank to bank and distributor. Customers can now immediately check their eligibility for a home loan and arrange the documents to successfully apply for the loan. While applying for a home loan, customers will be required to fill in details such as:
  • Any customer with a good source of income can apply for a home loan.
  • To apply for a home loan at ITFI, the consumer should be of minimum age 21 years old whereas repayments can be done by the age of 60 or max. 65.
  • Bank or financial institute will consider your savings history for the approval of the loan.
  • The applicant, whether salaried or self-employed, have to present the statement of their turn over for the hassle-free loan approvals.
  • Proof of current residence is important. He/she must be residing at the same address for at least a year to ensure your stability.
  • Applicants need a good credit score in between 750-900.

Documents Required For Home Loan At ITFI

The process of applying for home loans gets easier and simpler when you know the list of documents demanded by the loan provider. Documents required for home loans vary as per the individuals. Here is the list of general documents required for loan approval.
  • Filled and signed home loan application form.
  • Passport-size photographs, copy of address proof, identity and signature proof, age proof- Passport, Pan Card, Driving License, Voter ID Card, Aadhar Card, employee ID in case of a government employee.
  • Allotment letter of housing board/NOC of the society.
  • Bank state and salary slips of at least 6 months from the application date.
  • Copy of plan approved for the home construction/extension.
  • Property papers with OC and CC.

Frequently Ask Questions

EMI is the amount that you repay along with the principal amount and its interest amount. So while calculating the Home Loan EMI, both the principal amount and interest on the loan is taken into account to determine actual EMI amount.

Home Loan is the long term commitment to be fulfilled. One should stay aware and keep in mind the following things while choosing a home loan:

  • Negotiate the interest rate
  • Consider the factors affecting the eligibility section
  • Choose floating interest rates over fixed interest rate
  • Maintain good credit score to avoid rejections
  • Longer your repay tenure time, the costlier the interest rate is
  • Carefully read all the terms and conditions

No. Banks always keep 20% margin between to provide home loan which means that you can get 80% of the property value. If you have a good source of monthly income, then in certain cases the lender can get agree to provide you up to 90% of the property value as the home loan.

In India, as per the existing rules, only your blood relatives can cosign a loan with you. Your family members including father, mother, brother, sister or spouse or children are eligible to cosign a loan agreement with you.

Yes, they can apply for a home loan but there are different terms and conditions applicable for NRIs. For more details visit the NRI home loan page.

To track your home loan status, you can easily get connected with our customer care or write us an email along with your home loan reference number. Our executives will be happy to provide a simple solution to all your home loan regarding problems.

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