Aadhar Housing Finance Home Loans
You Must Know These Things Before Apply Aadhar Housing Finance Home Loans
This Article, we tell about Aadhar Housing Finance: Home Loans | Rate of Interest | Eligibility | Documents | Tenure & All Information.
Aadhaar Housing Finance Ltd is a Home Loan-paying Housing Finance Institute, through the attractive Home Loan Product; you can get a home loan from here to realize the dream of your home.
Aadhaar Housing Finance is the specialty of the scheme that makes these home loans available to the nominal earnings such as Rs 5000 / - per month. Aadhaar Housing Finance provides the home loan to the following profiles:-
  • ·         Salaried Grade III and IV Government employees.
  • ·         Home Loan for Employee of Privet Company
  • ·         Home Loan For Railway Employee
  • ·         Home Loan for Teachers
  • ·         Home Loan for Police & Defense Employee
  • ·         Home Loan for Small Business Man
  • ·         Home Loan for General Shop Keeper
  • ·         Home Loan for Small Enterpriser
  • ·         Home Loan for Plumber
  • ·         Home Loan For Carpenter
  • ·         Stationery shopkeepers
  • ·         Bookshop operators
  • ·         Dress shop

Home loans are also given to people involved in the business of mobile shop and others.
Aadhaar Housing Finance Home Loan Interest | Rate of Interest
Home loan rate of interest 11% to 14.50% pa. Home Loan Processing Fees - 1.5% of Home Loan amount and Home Loan Tenure - Maximum 20 years.
The applicant's details below are mandatory in the loan application form below:
  • ·         Name
  • ·         Mother's name
  • ·         Father/spouse's name
  • ·         Current residential address
  • ·         mobile number
  • ·         E-mail ID
  • ·         permanent residential address
  • ·         Date of birth
  • ·         marital status
  • ·         Eligibility
  • ·         driving license
  • ·         Pan Card
  • ·         Applicant's Business Details
  • ·         Applicant's financial position
  • ·         Co-applicant Details
  • ·         Co-applicant's Business Details
  • ·         The Financial position of co-applicant
  • ·         Loan requirement details
  • ·         Context
  • ·         Declaration
  • ·         Passport size photographs
  • ·         Signature of Applicant
  • ·         Signature of co-applicants

What are the Important Documents for Home Loan Application for Home Loan Application of Aadhaar Housing Finance?
The checklist of documents is available for both salaried and self-employed (business) applicants as mentioned below, through which you can learn about the essential documents of Home Loan here.
Ø  Essential documents for salaried applicants. Required Home Loan Documentation for Salaried
  • ·         Identity Card - Voter ID / Passport / Aadhaar Card / Driving License / Pan Card.
  • ·         Proof of address - Telephone bill / electricity bill / passport / bank passbook address / ration card.
  • ·         Income Document - Latest 3 months salary slip / salary certificate / 6 month's bank account Statement.

Ø  Essential documents for self-employed (businessman) applicants. Required Home Loan Documentation for Self-Employed
  • ·         Identity Card - Voter ID / Passport / Aadhaar Card / Driving License / Pan Card.
  • ·         Proof of address - Telephone bill / electricity bill / passport / bank passbook address / ration card.
  • ·         Income Document - Income Tax Returns (with Balance Sheet and Profit & Loss Account) for last three years, Bank account of last one year, Tax Deduction Certificate (if available), partnership contract (if available) Accountant, old dealer stick bill etc.

Who can be eligible for Home Loan in Aadhaar Housing Finance?
Ø  Home Loan Eligibility Criteria for Salaried: The mentioned information are salaried employees in both the public and the private sector.
  • ·         Maximum loan amount - 80% of property value. Maximum Loan Amount - 80% Of Property Value.
  • ·         Maximum loan term - 20 years of age or 60 years of retirement, whichever is earlier
  • ·         Process Charges - 1.5% of the loan amount + GST. Processing Fees For Home Loan - 1.5% Of Loan Amount + GST.
  • ·         Method of application - You can apply for home loan alone (with co-applicants) or jointly.

Ø Home Loan Eligibility Criteria for Self-Employed
  • ·         Maximum loan amount - 80% of property value. Maximum Loan Amount - 80% Of Property Value.
  • ·         Maximum home loan term - 20 years, but the term should not be outside the applicant's age above 65 years.
  • ·         Process Charges - 1.5% of the loan amount + GST.
  • ·         You can apply for home loan alone or jointly (with co-applicants) under the applicant's list, your spouse can make co-applicant to another family member.
How to Calculate Home Loan Eligibility?
Aadhaar Housing Finance gives you a home loan based on factors like monthly income, savings, the value of your property, credit score / ongoing loan, your employment status or your business/business sustainability.
Let's understand Home Loan Eligibility with the help of an example.
Assume:  You’re earning -30000 / - You can pay up to 40% of your monthly income in installments, sometimes it can be 45-50%.
That means you will assess the loan above 18,000.
Based on this outstanding amount, the estimated estimates of the loan can be considered forward
Loan Amount:  ₹ 1 lakh (for assessment)
Loan Term: 20 years
Interest rate: 11% -14.5% per annum
Per Lakh EMI: ₹ 1,032-1,280
Home Loan Eligible Amount: ₹ 1 lakh x 18,000 / 1,032 = ₹ 17.44 lakhs - ₹ 1 lakh x 18,000 / 1280 = ₹14.06 lakhs.
Therefore, your Home Loan Eligible Amount comes to the estimated limit of 17.44 lakhs.

Disclaimer: The Above article is only for information and education purpose. We are not responsible for the inconvenience experienced before apply for this go to company website and read their terms and Conditions.