Home Loan in Ghaziabad

Key Requirements for a Home Loan in Ghaziabad:

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. Pension income is typically not considered 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 if you're purchasing the entire property, which includes both residential and commercial sections.

For example, if it has a shop on the ground floor and residential spaces on the upper floors.

Leading banks and non-banking financial companies (NBFCs) provide home loans for a wide range of properties throughout Ghaziabad. Examples include HDFC Bank, Axis Bank, SBI, PNB, ICICI Bank, Kotak Bank, Indiabulls Housing Finance, Tata Capital Housing Finance, and Bajaj Housing Finance, among others.

Share your details, and we'll match you with the perfect lender for your profile and needs.

Housing loans are available for various types of properties in different locations of Ghaziabad:

• 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 rural areas with 'Khatoni or Jamabandi' to 'Transfer deed'
• Home loans in 'Village LAL Dora' or 'Gram Panchayat' with Lal Dora certificates to 'Transfer deed'

Before proceeding to create a title deed for a home loan in rural areas without one, consult with us. We offer expert guidance tailored to your specific situation.

LTV varies based on property type:

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

Many 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 provided to the buyer under a 'fitting and fixture loan.

Note that fitting and fixture loans are only available for ready-to-move-in houses / flats

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

Home loan refinance is not available for the amount spent on plot purchase.

With a home loan transfer in Ghaziabad, you can either reduced your EMI or loan tenure. In Ghaziabad, Joy Loan has partnered with top banks and NBFCs to provide lower interest rates on your existing home loan. We offer the industry's best loan transfer option and provide complete support for transferring your home loan from one bank to another.

With us, you'll secure unbeatable lower rates that are better than anywhere else.

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

You can get a home loan for an under-construction project if a specific bank or NBFC has granted approval to the builder's project. Bank / NBFCs disburse these loans based on the construction progress.

Before making a booking, it's advisable to confirm with the builder about the available banks in their project.

• Houses or flats without approved maps, up to the 3rd 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 properties
• Amalgamated or 'Joda' properties
• Houses made of stone slabs or 'Kadi Pathar' roof
• Properties on narrow roads / back portion
• Basement / lower ground floor properties
• Bacha Flat or stilt floor flats

• 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 Khatoni / Jamabandi / Fard to Transfer Deed / Gift Deed
• From Lal Dora certificate to Transfer Deed / Gift Deed

Yes, but the seller's loan must have a clear track record in running loan.

The seller will also need to act as a guarantor until the registration is done in the buyer's name.

Based on the borrower's age and employment, home loan tenures range from 5 to 30 years.

For salaried individuals, the maximum age at loan maturity is 60, and for self-employed borrowers, it's 70. Small deviations may be possible with prior discussion.

You can apply for a home loan pre-approval based on your income. Yet, it's not a good idea to do this if you're not sure about the kind of property you will finalise or if you're just starting your property search.

For example, if you get pre-approval from SBI but choose a property not having a municipal approved map or freehold / unapproved area. In this scenario, SBI won't give you a loan for that property.

So, it's best to talk to us early so we can assess your eligibility based on your income and financial situation. Only go for pre-approval when you're close to deciding on a property or if you have specific financial concerns.

We offer the best home loan rates in Ghaziabad, from the current lowest interest rates among top banks and NBFCs. We tailor our solutions to your profile and property, with comprehensive support from start to finish.

With partnerships with multiple banks and NBFCs, we provide unbeatable rates that our competitors can't match. Don't miss out on these benefits; apply your home loan now!

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

You can make as many payments as you want.

Part payments instantly reduce your loan balance. Bank will charge interest on the remaining amount from the next day.

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.

• Private Builder projects
• GDA
• U.P. Avas Vikas
• MCG allotted sites
• MCG approved private colonies
• Gram Panchayat / Village land in rural and urban areas
• Freehold / Unapproved colonies with a sale deed

Top banks / NBFCs provide home loans in sectors developed by both government and private builders.

The GDA (Ghaziabad Development Authority) and UP Avas Vikas Parishad provide residential properties in various sectors, such as Vasundhara, Vaishali, Madhuban Bapudham, Indirapuram, among others. Private developers have also developed various sectors / areas with the required approvals from district and town planners.

Many reputed builders in Ghaziabad have contributed to shaping the city. Home loans for these builder projects are available through direct allotments, builder transfer cases, or resale.

Subject to project approval, many banks offer home loans for under-construction builder projects. All banks/NBFCs offer home loans for builder projects where occupancy certificates/completion certificates have been issued.

Here is a list of builders and projects in Ghaziabad:

We offer home loans for various challenging properties in MCG-approved colonies and other Tehsils of Ghaziabad.

The Municipal Corporation of Ghaziabad (MCG) is divided into five zones: City Zone, Kavi Nagar Zone, Vijay Nagar Zone, Mohan Nagar Zone, and Vasundhara Zone. MCG/Nagar Nigam has 80 wards across these five zones. Here is a list of wards and locations where we provide home loans:

Additionally, Ghaziabad has four Municipal Councils and four Nagar Panchayats:

1. Municipal Council Khoda Makanpur
2. Municipal Council Muradnagar
3. Municipal Council Loni
4. Municipal Council Modinagar
5. Nagar Panchayat, Dasna, Ghaziabad
6. Nagar Panchayat, Niwari, Ghaziabad
7. Nagar Panchayat, Patla, Ghaziabad
8. Nagar Panchayat, Faridnagar, Ghaziabad

We offer home loans for properties in freehold/unapproved colonies in Ghaziabad. These residential areas are developed on agricultural land and lack the required approvals from local authorities.

You can find many of these freehold/unauthorized colonies in and around Shahberi, Balaji Enclave-Raispur, Guldhar, Dasna, Loni, Hindon river, Upper Ganga Canal, among other areas.

We offer home loans in following villages, Gram Panchayats, and Lal Dora areas of Ghaziabad provided all legal and other requirements are met.

You can easily get a plot loan for the purchase of land in authority allocated sites. These loans sometimes come at a rate 0.25% higher than regular home loan rates. However, in freehold and gram panchayat areas, loans for plot purchases have significantly higher interest rates.

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.

Some financial institutions offer home loans in Ghaziabad without requiring income proofs. These loans may come with a slightly higher interest rate.

Cash Salary: Loans up to 25 lakh with an employer's letter and verification.
Self-Employed Without ITR: Loans up to 75 lakh, subject to a business place visit 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 provide us with your contact details, and we will share a personalized documents checklist and a free no-obligation loan quotation

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.

Depending on the specific case, we can facilitate home loans for the following and more profiles:

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

Yes, banks / NBFCs provide a moratorium during the construction phase of the property.

You may be eligible for tax deductions on money spent on purchasing and repaying home loans under the following income tax sections:

• Section 24B: Up to 2 lakh deduction for interest repayment in your EMI.
• Section 80C: Up to 1.5 lakh deduction for principal repayment and stamp paper for home purchase.
• Section 80EE: An extra 50,000 deduction for first-time homebuyers, on top of Section 24B limits.
• Section 80EEA: An extra 1.5 lakh deduction for interest repayment.

Banks or housing finance companies charge a processing fee and other incidental fees. Banks and NBFCs may also offer life insurance for the borrower's life and property to manage risks in case of unexpected events. Financial institutions typically finance insurance premiums over the loan amount.

At Joy Loan, we work to minimize your upfront expenses by securing the best deals with low processing and incidental 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 with zero processing fees.

Plus, for higher loan amounts, we can secure even lower rates than the standard chart rates with top banks.

We charge a small, one-time coordination fee only for challenging cases, which is payable after loan approval. For this fee, we provide you with the best loan options, even for the most complex home loan requirements.

• 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 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.

In Ghaziabad, contact Joy Loan to apply for a home loan. We're your local and experienced loan partner, connecting you with the right lender and guiding you through the application to disbursement.

We serve the entire Ghaziabad and nearby towns up e.g. Modinagar, Muradnagar, and Loni.

Along with Ghaziabad, we also offer our services in other cities across Delhi-NCR.

We're a local loan agency based in Delhi-NCR, deeply familiar with the nuances of the Ghaziabad region and the complexities of securing home loans.

With over 12 years of experience, we've assisted thousands of customers in realizing their dreams of homeownership. Our strong partnerships with prominent banks and NBFCs enable us to offer unparalleled home loan options that outshine our competitors. If you're considering a home loan application in Ghaziabad, reach out to us today for the finest loan offers and expert guidance to make your dream home a reality.