DAAMRI DEAL PVT LTD
TO FACILITATE BEST MORTGAGE WITH BEST RATES
HOME LOAN
FREQUENTLY ASKED QUESTIONS:
What is a Home Loan?
Home loan is a form of secured loan that is availed by a customer to purchase a house. The property can be under – construction or a ready property from a developer, purchase of a resale property, to construct a housing unit on a plot of land, to make improvements and extensions to an already existing house and to transfer your existing loan from another financial institution to another. A housing loan is repaid through equated monthly instalments (EMI) which consists of a portion of the principal borrowed and the interest accrued on the same.
What are the types of rates of interest provided?
There are two types of rates of interest, Fixed and Floating rate of interest. Floating rate of interest is the rate which is linked to the movement of repo rate. If the repo rate increases, the interest rate will increase and vice versa. While Fixed interest rate is where the rate of interest is same for initial few years/ tenures of the loan and then it is converted to floating rate of interest.
What are the parameters considered for approving Home Loan?
The parameters considered for approving Home Loan includes bureau score (CIBIL), income, employment history, property details and valuation among others. The ability to make a down payment is also considered in home loan cases.
What is the tenure offered for a Mortgage loan?
For Home Loan it is up to 20 years and for non-home loans i.e. LAP it is up to 15 years.
Will applying for a mortgage loan affect the credit score?
It has a temporary impact on the credit score. However, if the EMI payments are done timely, then it can improve your credit score in future.
Why are the property documents required?
Property documents are required to assess the property’s value, verify ownership, and to ensure it meets all the legal norms specified by the government and regulators.
How is the property value determined?
The property valuation process involves a visit by a valuation team. During this visit the appraiser conducts an on-site inspection to assess aspects of the property that may impact on its value.
How much percentage of property’s valuation can I get as a loan?
It is commonly known as Loan to Value (LTV) which means loan amount as a percentage of the property value. The percentage of LTV depends on the type of property and type of loan. For Home loan it is up-to 90% (depending upon the loan amount) and for non-Home Loan such as LAP and NRP it is up-to 80%.
A pre-approved home loan is an in-principal approval for a loan given on the basis of your income, creditworthiness and financial position. Generally, pre-approved loans are taken prior to property selection. Some lenders also provide the facility to get an instant e-approval by allowing you to make an online application for the home loan.
A pre-approved home loan is an offer for a loan based on your repayment capacity. The disbursal of the home loan is subject to you identifying a property within the validity period of the pre-approved loan and the property meeting the lender’s legal and technical due diligence requirements. For example, while you may have a pre-approved loan offer in hand, the lender may not disburse the home loan in case the property titles are not clear, or the ownership structure does not fall within the lender’s permitted norms.
A pre-approved loan offer is valid for a limited period (usually three months). You have to finalize the property within the validity period failing which you will have to get your loan application reappraised at a nominal cost by providing your latest income documents to the lender. The loan terms (interest rate, EMI and tenure) indicated in the offer may change later. The final loan terms are worked out at the time of disbursement. For example, by the time you choose a property, the interest rate scenario might have changed. Subsequently, the terms of your loan may also change.
HOME LOAN INTEREST RATES
As of October 2025, home loan interest rates from various banks start at 7.35 % per annum, with rates varying based on the lender and borrower profile.
Central Bank of India, Bank of India, Bank of Maharashtra, Union Bank of India offer the lowest loan interest rates starting from 7.35 % per annum.
State Bank of India offers loan starting from 7.50 % per annum. Bank of Baroda has rates varying from 7.45 % to 9.50 % per annum depending on the loan.
ICICI Bank and HSBC Bank start their rates at 7.70 % per annum while HDFC Bank begins at 7.90 % per annum.
Axis Bank shows a broader range of 8.35 % to 11.90 % reflecting differences based on borrower profiles and loan size.
DAAMRI DEALS PVT LTD ALPHA 1 COMMERCIAL BELT GREATER NOIDA
