As per RBI /NHB norms the maximum loan possible depends on the value of the property. Which ranges between 75% to 90% of cost.

Maximum loan term can be given upto 30 years or retirement age which ever is earlier.
Some Financial institutions also extend term on customer’s employer pension scheme income.

Before selecting the property also loan can be applied.
This gives better negotiating power.

Normally a home loan gets sanctioned in around two weeks for salaried and three weeks for self-employed / professional after submitting full set of documents. Validity of the sanctioned loan amount is normally 90 days.

In resale cases – The following documents required to be checked:
a) Vendors agreement for sale ,
b) registration receipt ,
c) approved building plan,
d) Copy of title report, e) copy of occupation certificate.

Yes, a institution can sanction the loan, but the sanction is subject to having the property approved by the bank prior to disbursement.

a) Three months’ salary slips.
b) Copy of latest Form 16.
c) Six months of salary account statement.
d) KYC Documents – Photo ID and Residence proof.
e) Passport size one latest photographs for all applicants
All the above documents should be self-attested.

All set of ITR and Form 26 AS for last three years– self and CA attestation.
Business proof, Brief note on company profile
Banks statement for current and savings bank a/c for one year.
KYC Documents – Photo ID and Residence proof.
One passport size photograph of all applicants.

Normally all institutions insist on co-applicant but all the
owner’s in property need to be applicant.

A home loan is generally sanctioned to applicant & his spouse.

Repayment of the principal commences from the month following the month in which you avail full disbursement of your loan. Pending final disbursement, you pay interest on the portion of the loan disbursed. This interest is called pre-EMI interest. Pre-EMI interest is payable every month from the date of each disbursement up to the date of commencement of EMI. A customer gets tax benefits on the Pre EMI Interest paid u/s 24(1) . In the case of under construction properties, institutions also offers you a
unique ‘Tranching’ facility.

Loan against property gives you access to immediate funds by placing your property as collateral. A customer can avail of a longer repayment term and low interest rate as compared to a ‘Business loan’ makes it a popular choice. As the name suggests, loan against property is a secured loan that is advanced by mortgaging a self-owned property (residential or commercial) with the lender.