Owning a home is a dream for many — and one of the most important steps towards fulfilling that dream is securing a home loan.
Here’s a simple guide to help you understand the process through frequently asked questions.
If you answer yes to the following, obtaining a home loan should be smooth:
Choosing a reputed developer like My Home Constructions also simplifies the process, as our projects are typically pre-approved by leading banks.
A home loan is a long-term partnership between you and your bank — often spanning over a decade. The process typically involves the following steps:
Banks require several documents to evaluate your eligibility and authenticate your information:
Proof of Income:
Banks assess multiple aspects before approving your loan:
Banks charge a processing fee to evaluate and process your loan application. This typically ranges between 0.25% and 0.50% of the loan amount or a fixed sum (₹5,000–₹10,000).
Some banks may offer partial or full waivers during special campaigns.
Once the documents are reviewed, banks may invite you for a brief personal discussion to clarify details.
They will also independently verify your address, place of work, and references through specialized agencies.
If approved, you will receive a Home Loan Sanction Letter outlining key terms:
Read the offer carefully before signing the acceptance copy.
Before disbursal, banks will conduct:
If the property is under construction, the bank’s technical team verifies progress and ensures it matches the builder’s payment schedule.
After approvals, you will:
Opting for a My Home project gives you a distinct advantage — most of our developments are pre-approved by major banks, ensuring faster loan processing, transparent documentation, and smoother disbursal.
My Home Constructions Pvt. Ltd
H NO 1-123,8TH FLOOR, 3RD BLOCK,
MY HOME HUB, HITECH CITY,
MADHAPUR, HYDERABAD - 500 081.
www.myhomeconstructions.com
