Essential Criteria for a Home Loan:

1. Age: Salaried applicants: 22 to 55 years: Self-employed applicants: 22 to 65 years
2. Stable Active Income: Salaried, self-employed, or rental income. Banks typically do not consider pension income for home loans.
3. Salaried Applicants Job Continuty: Typically 2 years; exceptions based on education and employer reputation
4. Self-Employed Applicants Business Continuity: Usually 3 years; exceptions if previously employed in the same field
5. Rental Income Basis: Consistent occupancy with regular rent payments
6. Co-Applicants: Income can be combined for blood relatives or husband-wife
7. Purchase Under Construction Property Without Approved Map: Loan disbursement after property completion
8. Legal Documentation: Clear and traceable property ownership
9. Partnership Purchase Properties: Loans are not granted for properties purchased in partnership / non-blood-relatives.

Yes, you can apply for a home loan when purchasing a property that includes both residential and commercial sections. For instance, if the property has a shop on the ground floor and living spaces above.

Home loans in Delhi are accessible through leading banks and NBFCs, including HDFC Bank, Axis Bank, ICICI Bank, Kotak Bank, Indiabulls Housing Finance, Tata Capital Housing Finance, and Bajaj Housing Finance, to name a few.

Simply provide your information, and we'll connect you with the ideal lender tailored to your specific profile and requirements.

You can get home loans for a range of property types in various locations:

• Residential plots, under resale and direct allotment
• Ready-to-move houses or villas
• Ready to move builder flats under resale or direct allotment
• Home construction loans, for new house construction, renovation, and expansion
• Under-construction projects approved by specific banks
• Home loans in 'Village LAL Dora' or 'Gram Panchayat' with Lal Dora certificates to 'Transfer / Gift deed'

Unlock your dream home with our tailored home loans. Send you contact for a free expert consultation.

LTV varies based on property type:

• Plot purchase: 65-80%
• Ready-to-move house / flat: 75-90%
• Construction loans: 75-90%

A few banks and NBFC offer fitting and fixture loans in cases of property registration at lower than market price. Under this, up to 90% of property registration price is issued to the seller, with the balance is provided to the buyer under a 'fitting and fixture loan. Note that fitting and fixture loans are not available for plot purchase.

If you used your own funds to buy a home or builder flat, you can refinance it with a home loan within 12 months of the purchase. Home loan refinancing is also available for money spent on construction of a house within the last 12 months of application.

This option is not available for refinancing the amount spent on plot purchase.

Unlock savings with our bank partnerships, featuring low-interest rates on home loan balance transfer. With loan transfer, you can either reduce your EMI or shorten your loan duration.

Along with balance transfer, you can opt for a cost-effective top-up loan. You can use top-up loan to consolidate high-interest debts or for personal needs.

You can get a home loan for an under-construction property, subject to project approval from banks or NBFCs. These loans are typically disbursed based on the construction progress.

Before making a booking, it's advisable to confirm with the builder about the available banks for home loans.

• Houses or flats without approved maps, up to the 4th floor
• Construction of house without map approval
• Extra coverage issues
• Double units, triple units, or multiple units/flats on the same floor
• Subdivided / part of property cases
• Amalgamated or 'Joda' properties mainly found in Rohini
• Houses made of stone slabs or 'Kadi Pathar' roof
• Properties on narrow roads / back portion
• Basement / lower ground floor properties
• Bacha' or stilt floor flats
• Demolition notice issued over 8 years ago.

• From GPA to Sale Deed
• Documents missing in the property chain
• Current title deed missing in the property chain
• Single sale deed (with no prior property chain)–with a minimum 3-year-old title deed
• From Lal Dora certificate to family transfer (Transfer Deed/Gift Deed)

Certainly, as long as the seller's loan statement is clean.

The seller will also need to act as a guarantor until the registration is done in the buyer's name. This is because your bank pays the seller's bank before property registration. If, for any reason, the seller doesn't complete the transaction after receiving payment, they too are responsible for repaying this new loan.

Home Loan tenures range from 5 to 30 years, based on the borrower's age and employment type.

For salaried individuals, the maximum age at loan maturity is 60, and for self-employed borrowers, it's 70. Small deviations are possible, subject to approval.

Yes, you can get a home loan pre-approved based on your income.

However, it's not advisable to get a home loan pre-approval if you're uncertain about the specific type of property you intend to purchase or if you're just beginning your search.

For instance, if you secure pre-approval from Axis Bank and later decide on a property based in an area without municipal approval, Axis Bank will not grant a loan for that specific property.

So, it's a good idea to talk to us well in advance so we can check your eligibility based on your income and debts. Only seek pre-approval if you're close to finalising a property or if you have specific financial concerns.

Joy Loan delivers Delhi's finest home loan rates, boasting the present-day lowest interest rates sourced from premier banks and NBFCs. Our customized solutions cater to your individual profile and property needs, backed by end-to-end support.

Through our extensive affiliations with multiple banks and NBFCs, we offer unparalleled rates that set us apart from the competition. Don't let this opportunity slip away; share your information right now.

No, you can transfer or prepay your home loan at any time.

Yes, you can make as many payments as you want.

Part payments instantly reduce your loan balance. Interest is then charged on the remaining amount from the next day.

Yes, there is no foreclosure fee for home loans with floating interest rates. However, for loans with fixed interest rates, financial institutions may charge a fee.

• DDA allotted properties
• L&DO allotted lands
• MCD-approved private colonies
• Unapproved colonies under PM-UDAY
• Lal Dora villages like Mehrauli, Chatarpur, Hastsal, etc.

DDA allocates residential land and flats in various locations in Delhi under various schemes. Home loans are available for both purchasing and building purposes in DDA allocated locations..

Furthermore, you can get a loan for DDA flats that private builders or flat owners have redeveloped or expanded.

A significant portion of Delhi's population lives in MCD approved colonies. Leading financial institutions offer home loans in these areas, despite challenges like missing maps or exceeding allowed floors or flats.

Joy Loan can help you get a home loan from the basement to the 4th floor in MCD approved colonies. Thanks to our partnerships with 50+ banks and NBFCs, you'll always enjoy better rates than our competitors.

L&DO properties are prominently located as government-owned leased properties. A significant portion of the area within a 6-8 KM radius of Lutyens' Delhi is owned by L&DO. Prominent locations include Janpath, Barakhamba Road, Gole Market, Bengali Market, Lodhi Estate, I.P. Estate, to name a few.

Most financial institutions offer highly competitive rates for purchasing or transferring the lease rights of these properties.

In 1797 unapproved colonies, DDA has started the Conveyance deed under the PM-UDAY scheme. Many of these colonies are provisionally approved /regularized but the most of them remain unapproved.

A few financial institutions can provide Home loans these areas, with a clear legal chain and conveyance deed in DDA.

Many NBFCs and housing finance companies provide home loans in all of Delhi's urbanized villages and Gram Panchayat Lal Dora.

Depending on urban development and location, the government designates new villages as "Urban Villages" through its notifications. In addition to urban villages, here is a list of villages in Delhi's 7 districts.

Banks can provide loans up to 50 crores or more, depending on your eligibility and property value.

To determine eligibility for a home loan, financial institutions consider various income assessment methods based on the borrower's profile:

• Salaried: Eligible for EMIs up to 75% of net salary depending on income level.
• Self-Employed Professional: Eligible based on net profits, gross receipts, average banking balance over the last 12 months, and repayment track record.
• Self-Employed Non-Professional: Eligibility based on net profit, gross profit, average banking balances over the last 12 months, repayment track record, and liquid income assessments. *Cases with decreased turnover and profit require prior discussion with the banks.
• NRI / PIO / OCI / Seafarers / Merchant Navy: Require minimum monthly income of 2000 USD, with EMI eligibility up to 60% of net income. *Cases with lower than 2000 USD income require prior discussion with banks.
• Rental Income: Up to 75% of rental income, or up to 90% if the property is leased to a corporate entity under the LRD scheme.

If you have any existing loans, their EMIs are deducted from your total eligibility. To increase your eligibility for a home loan, you can choose to close existing loans. Banks may offer conditional approval, requiring you to provide proof of loan closure before disbursing the home loan.

Several financial institutions provide home loans in Delhi with no income documentation, e.g. salary slip or ITR. Though these loans come at a slightly higher interest rate.

• For Cash Salary earners: Loans up to 25 lakh with an employer's letter and verification.
• For Self-Employed individuals: Loans up to 75 lakh, with verification of business premises and a personal discussion.

If you have all documents are available, you can expect your home loan to be approved within 5 to 10 business days.

Document requirements vary based on your unique profile. You can refer to our general checklist in the documentation section for guidance.

Or just provide us your contact details, and we'll share a personalized documents checklist and a free no-obligation loan quote.

With a reasonable justification and supporting documents, we may secure a home loan for you. We charge a one-time coordination fee for handling challenging cases like these. This fee is payable upon loan approval.

Based on the individual case, we can assist with home loans for the following and other profiles:

• Lawyers
• Property dealers/builders
• Building material suppliers
• Scrap dealers
• Jewelers

Yes, you can opt for a moratorium during the construction phase of the property.

You could qualify for tax benefits on your home loan expenses under the following income tax provisions:

• Section 24B: Deduction of up to 2 lakh for interest payments within your EMI.
• Section 80C: Deduction of up to 1.5 lakh for principal repayments and stamp paper expenses for home purchases.
• Section 80EE: Additional 50,000 deduction for first-time homebuyers, over the Section 24B limits.
• Section 80EEA: Extra 1.5 lakh deduction for interest payments.

Banks and housing finance companies may charge various fees, including processing fees and other charges. They might also offer life insurance for the borrower and property to manage unexpected risks.

At Joy Loan, our commitment is to minimize your initial costs by securing favorable terms with minimal processing and other charges.

For home loan amounts of 1.5 Cr and above, with no legal, technical, CIBIL, or eligibility challenges, we offer a special processing fee discount or cashback, effectively making your home loan come with zero processing fees.

Plus, for higher loan amounts, we can secure even lower rates than the standard chart rates with top banks such as HDFC Bank, Axis Bank, ICICI Bank, and Kotak Bank, to name just a few.

We charge a small, one-time coordination fee only for challenging cases, and it's paid after your loan is approved. This fee ensures that you receive the best loan options and the lowest rates, even for the most complex home loan requirements. Get started on your homeownership journey with us today!

• Outright Sale: When buying a plot or a ready-to-move property, the bank provides a demand draft to the seller through legal representative during property registration.
• Approved Under-construction Projects: For such projects, financial institutions issue cheques to the builder based on their demand letter.
• Self-construction Cases: Payments are released to the borrower as construction progresses.
• Home Loan Transfers: When transferring a home loan, the bank's representative accompanies you to your existing bank to hand over the banker's cheque.

Repayments are made via monthly EMIs, which start after the loan disbursement. With partial disbursement cases such as under-construction properties, EMIs start after the final disbursement.

Repayments are facilitated through automatic debits from your salary or primary business account using the NACH/ECS facility.

To apply a home loan in Delhi, look no further than Joy Loan — your trusted local lending partner. Our expertise not only matches you with the perfect lender but also simplifies the application process, ensuring comprehensive support from application to loan disbursement.

Get started with your home journey today!

We serve the entirety of Delhi and nearby cities, such as Gurugram, Noida, Ghaziabad, Faridabad, and more.

For high-value cases, we can assist you beyond our standard service areas.

Joy Loan is your local loan partner based in Delhi, NCR, with deep knowledge about the unique challenges of securing loans in locality.

With over 12 years of dedicated service, we've transformed the dreams of thousands, just like you, into the reality of homeownership. Our enduring partnerships with premier banks and NBFCs ensure you receive unbeatable home loan offers that set us apart from the rest.

To apply a home loan in Delhi, make the choice that guarantees the best loan deal and expert guidance–choose Joy Loan