Get the most out of AFFORDABLE HOUSING FINANCE on an easy & affordable EMI's
The affordable housing finance is gaining grounds now days with focus on rural housing and development and several housing imitative being run to shape up the rural life with changing time and market scenario.
Key benefits - Affordable housing finance
Profile: Salaried | Self Employed Professionals | Self-employed Non- Professionals
Income: Cash Salaried | Pension Income | Business Income | Normal salaried
Property: Gram Panchayat | Nagar Palika | Collector passing | State development authority approved
Loan Amount: up to Rs 50 lacs | Loan Tenor: up to 30 yrs | LTV: Up to 90% of the property value
Minimum documentation | Door step facility | Quick disbursal
Affordable Housing Finance for Salaried
Affordable housing finance, a loan for low income families. Owning a home is a dream and we at credit sure help you to connect with right partner for affordable housing finance. Through Affordable Housing Loan you can obtain a home loan with a salary as low as Rs 10k. We cater the loan related requirements of clients with lower income bracket and help them to avail of the right loan option depending upon their budget, income and other obligations. An affordable home loan is especially designed to cater the lower income group to meet their housing needs. This program is also known by cash salary home loan or home loan without salary slip. Being designed to cater the needs of lower and middle segment especially in rural, it is the low income housing loan.
Affordable housing finance for Self Employed
Affordable housing loan for self-employed has paved the way for rural housing in a big way. Shopkeepers, retailers, self-employed individuals, wholesalers who had a business in place but don't have proper income docs, now can apply for affordable housing finance. Under this affordable housing finance there are two variants: Affordable home loan program & affordable mortgage program. Affordable mortgage program helps the self-employed to avail quick funds to address their working capital requirements for their business and other personal obligations. Affordable housing mortgage is available on ready house or flat and not on land or plot. This low income home mortgage loan enables quick availability of the capital to run retail and other business in rural domain.
Key Features - Affordable Housing Finance
- Being known as government housing loan for low income, affordable housing finance is designed to address the rural housing development needs
- Home Loan for Cash salary or Low income housing loan - Affordable Housing Finance targets economically weaker sections, low income groups, and women who are residents of the peripheral regions of the Metros, Tier I, Tier II and Tier III cities.
- Home affordable mortgage program: To be eligible for Affordable Housing Finance, you should come from a household with annual income of Rs 3 lakh to 18 lakh. The Reserve Bank of India says the cost of affordable residential property for MIG should be less than Rs 65 lakh (loan up to Rs 50 lakh) in six metros and Rs 50 lakh (Rs 40 lakh loan) in non-metros. Prior to 2014, the limit was up to Rs 25 lakh for metros and Rs 15 lakh for non-metros.
- Affordable Home Loan Program: A beneficiary family will comprise of husband, wife and unmarried children. An adult earning member (irrespective of marital status) can be treated as a separate household provided that he/she does not own a pucca house in his/her name in any part of India. Therefore, a married couple, either of the spouses or both together in joint ownership, will be eligible for a single house only.
Documentation - Affordable Housing Loan
Affordable Housing loan documentation varies with the type of property and the purpose. Broadly below is the list of documentation required from all the 3 types of profiles looking for Affordable Housing Loan
Key terms - Affordable Housing Finance
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