Apply housing loan online|home loan in Chennai|Chennai Filings

Types of Home loans

Home purchase loans

These are the most common type of home loans in Chennai that is granted to individuals and they are granted for the purchase of an apartment

Home construction loan

This type of loan is granted to individuals for the construction of a house on a plot of land that is already owned by the applicant.

Home Expansion/Extension Loan

This loan is specifically granted to individuals who want to expand their current home to include a new construction such as an additional floor, room, bathroom, etc.

Home Improvement Loan

Existing home owners who lack sufficient funds to renovate their existing home can apply for this loan to upgrade their home with a new paint job, electrical wiring, water proofing, etc.

Home conversion loans

Using this type of home loan in Chennai, an existing home owner can add to their existing loan so that they can purchase a new house. This type of loan is only applicable to existing home owners.

NRI Home Loans

These home loans in Chennai are specifically designed to provide non-resident Indians with financing so that they can purchase a home in India..

We Serve Everywhere

Chennai Filings offers vaious financial services like home loans, Business loans and term loans etc,Our Financial solutions are designed to help our clients maximize their business opportunities.

Chennai Filings is web portal of Govche India Private Limited with operations since 2007. Chennai Filings is one stop business setup and consulting company, managed by specialized team of Business Analysts,Company Secretaries, Chartered Accountants, Corporate Lawyers and Financial Professionals company headquartered in Chennai, India. Having known for our quality of services, delivering the projects on time, we have clients spread across the globe.

FREE CONSULTATION

Have Queries? Talk to our expert

Income tax

We will provide income tax return preparation, Revised return, Responding to Department notices and solving other Income Tax related issues.

Business Licenses

Our Professionals Will help you in getting your business licenses and Business licenses necessary for smooth running of businesses

Financial Services

we will Provide Funds for both personal and Business. Our funding system gives a credit line facility, enabling you to expand your business to new heights

GST Returns

We will make your business to GST Compliance. Returns are required to be filed digitally online through a common portal to be provided by GSTN

FAQs

Do you get a tax benefit on the loan?

Yes. Resident Indians are eligible for certain tax benefits on both principal and interest components of a loan under the Income Tax Act, 1961.

What is Pre-EMI Interest?

Prior to full and final disbursement and commencement of EMI, you pay pre-emi interest on the portion of the loan disbursed to you. Pre-EMI interest is payable every month from the date of each disbursement up to the date of commencement of the EMI.

Can I make my friend a co-borrower?

Banks do not allow co-borrowing between friends. It is only a family member who can be your co-applicant in your home loan application. Even between family and relatives, banks have reservations in granting loans. For instance, a married woman would find it difficult to avail of a home loan making her unmarried sibling a co-applicant. Banks generally prefer lending to spouses as co-borrowers.

Do my age and occupation matter?

Your age and your income are the primary criteria for the bank to decide your credit eligibility. For instance, a bank would be more willing to a younger person, earning a stable monthly salary. Such profiles have lower risk exposure.

Can I transfer the loan multiple times?

You can change your lender multiple times, in case it helps you reduce your loan burden. However, too much shifting is not advisable as it sends across a wrong impression. Also, kept in mind must be the fact that banks charge a free on loan transfers.

Can a partnership firm be converted into private limited company?

A borrower does not have to pay a penalty on pre-payment after the Reserve Bank of India in 2013 directed financial institutions to waive charges for loans taken on floating rate of interest. However, banks still charge a penalty on transfer if you have taken a home loan on a fixed rate of interest.

How many directors can be appointed?

The answer is no. Banks generally offer only 80 per cent of the total worth of the property as loan. Further, the amount you could borrow from the bank is decided only after banks carry out a technical valuation of the property. If you are asking for a loan of Rs 30 lakh while it is worth only Rs 25 lakh according to the bank’s estimates, it would offer you only Rs 20 lakh as loan.

What are the requirements with regard to the company’s name?

Banks charge a late-payment fee upon each such occurrence. In case of an unfortunate event owning to which you are not able to repay your loan, the bank will have the right to possess the property and auction it to recover losses.

What is Director Identification Number (DIN)?

What are the statutory compliances required for a Pvt Ltd ?

In case you have a poor credit score, you will find it difficult to get a home loan. However, you can improve your chances by getting a co-borrower. The co-borrower needs to be a family member like your spouse or parents. Ideally, you should choose a co-borrower who has a regular source of income and good credit history to bolter your chances of a successful application.

Home Loans