Benefit from attractive interest rates that make homeownership more affordable.
Fill out the online application form.
Upload the required documents.
Submit your application with Loan-Mart.
Loan disbursement within 2-3 days.
Loan-Mart
Own Your Dream Home
Build Equity
Tax Benefits
Flexible Financing
Improve Creditworthiness
What We’re Offering
To qualify for a Loan-Mart Home Loan, you generally need a good credit score (typically above 620), a steady income, and a low debt-to-income ratio. Salaried professionals must provide proof of identity, address, and income, along with employment proof, professional certificates, income tax returns, property documents, and bank statements. Fees and charges vary from lender to lender and case to case, and usually include processing fees, legal fees, and valuation charges.
The ideal bank for a home loan often depends on the lowest interest rates, as lower rates help reduce the overall interest cost. However, it’s also crucial to consider factors like loan tenure, loan amount, LTV ratio, processing fees, and the speed of loan approval. Instead of individually visiting each lender’s website, you can simplify your search by using online financial marketplaces (like ambak.com) to compare home loan rates and features from various banks and HFCs.
No, home loans do not cover the entire property value. The Reserve Bank of India (RBI) has set Loan-to-Value (LTV) ratio limits. For loans up to Rs 30 lakh, the LTV ratio can be up to 90%. For loans between Rs 30 lakh and Rs 75 lakh, it’s capped at 80%, and for loans above Rs 75 lakh, the LTV ratio is limited to 75%. Borrowers must cover the remaining amount through a down payment.
The maximum home loan amount is often determined by the lender using methods like the Multiplier Method or the EMI/NMI Ratio. These methods consider your income and existing financial obligations. Some lenders also combine these methods to assess your eligibility.
