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Home Loan

Home – Loan Services – Home Loan

What is a Home Loan?

A home loan is a financial product that allows individuals to borrow money from banks or financial institutions to purchase, construct, or renovate a house. The loan is repaid over time through monthly installments (EMIs) along with an agreed-upon interest rate. Home loans are secured loans, meaning the property being purchased or constructed is used as collateral until the loan is fully repaid.

How to Get a Home Loan Hassle-Free and Smoothly

At Vimala LD Services LLP, we understand that buying a home is one of the most significant decisions of your life. To make this journey smoother, we bring personalized home loan services right to your doorstep.

We work closely with leading banks and NBFCs, leveraging our DSA codes to offer you a wide range of home loan options. Our team ensures that you get the best deal tailored to your profile, eligibility, and specific needs. From documentation to final approval, we simplify the process so you can focus on what truly matters –finding your dream home.

At Vimala LD Services LLP, we simplify the entire home loan process. With our wide network of partner banks and NBFCs, we bring you tailored solutions to suit your unique requirements. Let us handle the complexities while you focus on your new home!

Home Loan Required Documents for Salaried Person

1.Identity Proof (Any one of the following):
  • Aadhaar Card
  • PAN Card
  • Passport
  • Voter ID
  • Driving License
2.Address Proof (Any one of the following):
  • Aadhaar Card
  • Passport
  • Rent Agreement
  • Bank Statement with Address
  • Utility Bills (Electricity, Water, or Gas – recent)
3.Income Proof:
  • Latest 3 to 6 months' salary slips
  • Form 16 or Income Tax Returns (ITRs) for the last 2-3 years
  • Bank statements for the last 6 months showing salary credits
4.Employment Proof:
  • Offer letter or employment certificate from the current employer
  • Appointment letter
5.Bank Statements:
  • Savings account statements for the last 6 to 12 months
6.Photographs:

Recent passport-sized photographs (as required by the lender)
** We also do home loans for employees who receive cash salaries, depending on verification and authentication processes.
**Confirm employment details through employer-provided documentation, such as an appointment letter or employment certificate.
**Cross-check income through alternate proof like stamped salary slips, bank deposit receipts, or employer letters.
**Conduct physical verification of the workplace.

1. Minimum Salary Requirement (for salaried individuals):
  • If the salary is credited directly into a bank account, the minimum requirement is ₹15,000 per month.
  • If the salary is paid in cash, the minimum requirement is ₹20,000 per month.
2. Condition on Existing Loans:
  • These requirements apply only if no other loans are currently running (e.g., personal loans, car loans, or other EMIs).
If you need help calculating eligibility or want advice on improving your chances of approval, let us connect VIMALA LD SERVICES.
Home Loan Required Documents for Self-Employed Individual
When applying for a home loan as a self-employed individual, lenders assess your income stability, business viability, and repayment capacity. Below is a list of commonly required documents:
1. Identity Proof (Any one of the following):
  • Aadhaar Card
  • PAN Card
  • Passport
  • Voter ID
  • Driving License
2. Address Proof (Any one of the following):
  • Aadhaar Card
  • Passport
  • Rent Agreement
  • Bank Statement with Address
  • Utility Bills (Electricity, Water, or Gas – recent)
3. Income Proof:
  • Audited financial statements (Profit & Loss Account, Balance Sheet) for the last 2-3 years.
  • Income Tax Returns (ITR) for the last 2-3 years.
  • Bank statements for the last 6-12 months (personal and business accounts).
  • Business continuity proof (e.g., trade license, GST registration, or any other business registration document).
4. Business Proof
  • Certificate of Business Registration (e.g., GST Registration, Shop Act License, or Incorporation Certificate).
  • Proof of business existence for at least 3 years (e.g., client contracts, supplier agreements).
6. Other Documents
  • Passport-sized photographs (applicant and co-applicant, if any).
  • Cheque for processing fees.
Home Loan Services for Lower Segment Self-Employed Individuals
At Vimala LD Services LLP, we understand that self-employed individuals often face challenges in securing home loans due to the variability of their income. To address this, we offer tailored home loan solutions specifically designed for self-employed professionals and business owners.
Key Features of Our Self-Employed Home Loan Services:
  • Eligibility with One-Year ITR: Even if you have just one year of Income Tax Returns (ITR), you can still qualify for a home loan, provided other eligibility criteria are met.
  • Trade License for One Year: A valid one-year trade license can help establish the continuity of your business operations.
  • CIBIL Score Evaluation: Your creditworthiness is assessed based on your CIBIL score to ensure you meet the financial institution’s requirements.
  • Business Stock Assessment: We consider the value and turnover of your business stock as part of your eligibility evaluation.
  • Customized Loan Solutions: Our expert advisors help you find a loan option that suits your specific needs, business profile, and repayment capacity.
With our extensive network of banks and NBFCs, we aim to make the process simple, transparent, and stress-free. Whether you’re an entrepreneur, freelancer, or small business owner, we’re here to support your dream of owning a home
Get in touch today to explore your options and start your hassle-free home loan journey!
Property Documents
Property Documents (For New Flat Purchase from Builder):
  1. Copy of the Sale Agreement
  2. Development Agreement
  3. Power Of Attorney
  4. Land Deed
  5. Chain Deed
  6. Porcha
  7. Khajna
  8. Tax
  9. Mutation
  10. Sanction Plan
Property Documents (For Home Construction/ Home Renovation):
  1. Land Deed
  2. Chain Deed
  3. Porcha
  4. Khajna
  5. Tax
  6. Mutation
  7. Sanction Plan
  8. Cost Of Estimate
Property Documents (For Resale Flat Purchase from Individual):
  1. Sale Deed
  2. Tax
  3. Mutation
  4. Development Agreement
  5. Power Of Attorney
  6. Land Deed
  7. Chain Deed
  8. Porcha
  9. Khajna
  10. Tax
  11. Mutation
  12. Sanction Plan
Property Documents (For Plot Purchase + Construction):
  1. Sale Agreement
  2. Land Deed
  3. Chain Deed
  4. Porcha
  5. Khajna
  6. Tax
  7. Mutation
  8. Sanction Plan
  9. Cost Of Estimate

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At Vimala LD Services LLP, we provide end-to-end solutions for all your real estate needs. Whether you’re buying or selling a flat, plot, or house, we handle everything from drafting the sale agreement to the final registration process.

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