How to Apply for a Home Loan?

Purchasing a home is a serious financial commitment as well as a major milestone in the life of an individual. Most Indian residents looking to become home buyers need external financing to fulfil their dream of owning a house. This is where a home loan can be of their assistance. Some of India’s leading lenders now offer home loans with relaxed repayment terms like competitive interest rates and long repayment tenors to those individuals who would prefer to pay it off over a long period of time. In addition to making the dream of owning a home come true, one can even avail tax benefits for securing funding for a home loan. This article will take you through the application process for a Home Loan. Read on to know more.

Home Loan Application Process

Applying for a Home Loan through financial services aggregator portals such as Finserv MARKETS is a fairly easy process to follow. In order to apply for a Home Loan, you must:

  1.  Visit the website of your preferred loan provider and go to their online home loan application page.
  2. Select the home loan product that interests you.
  3. Provide basic details such as your name, income details, ID proof, address proof, and co-applicant details (if needed)
  4. Select the loan amount and the repayment tenor as per your needs.
  5. Check for pre-approved offers and special benefits tailored for you.
  6. Upload other necessary paperwork and documents before finally completing the application.

If you still need help with the process, many lenders also provide on-call assistance via customer care to guide you through the process. Toll-free phone numbers are also available on the official websites of the lenders to make the process easier for you.

Home Loan Eligibility Criteria

The first thing any home loan aspirant must look at closely is their home loan eligibility. Every lender has a set list that they expect applicants to meet. The parameters include the applicant’s age, credit score, repayment capacity, debt-to-income ratio, and credit obligations, among others.

Applicants are advised to check their eligibility beforehand to see how they measure up against the lender’s criteria and only apply once everything is in place. This can help them find the home loan best-suited to their financial capacity and enhance their chances of getting approved. Applicants must note that their credit rating is also hampered if their home loan application stands rejected. Hence, one must be certain of their chances of being approved before applying for a home loan.


In the post-pandemic world, making home loans available through websites such as Finserv MARKETS has proven to be a beneficial endeavour for both borrowers and lenders alike. This step towards digitalisation grants the borrower full control over their home loan application, thereby making it a hassle-free experience.

If you are looking to own a home and are considering securing a home loan, you can always look at the various Home Loan offers provided by lending partners of aggregator portals such as Finserv MARKETS. Some of the home loan options provided by lenders such as Bajaj Housing Finance Limited are designed for maximum affordability and convenience. Any individual can take care of the home loan application process in its entirety by following a series of simple and efficient steps, post which, they will receive a digital sanction letter in a matter of as little as 10 minutes, provided everything is in order.

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