Whether you want to renovate your house, reconstruct it completely or want to buy a new house, home loan helps to make it a reality. In order to have a hassle-free loan, you need to know how to apply for a home loan online. For home loan application approval, you need to fulfill the eligibility criteria and essential documents required to apply for a home loan online.
Why you opt for home loan online?
- When you apply home loan online, you get to know the home loan interest rates offered by different banks.
- You can easily choose your required loan amount when you apply for home loan online.
- When you apply home loan online, you save a lot of time.
- Depending on your credit score, you are offered competitive interest rates when you apply home loan online.
- You can choose the repayment tenure when you apply home loan online.
- Fast loan approval is possible when you apply home loan online.
- Easy submission of home loan application form online.
Home Loan Types in India
Financial Institutions offer various types of home loan to cater to the different types of the customers. Following are the home loan types in India which can be availed when you apply home loan online-
- New Home Loan– It is offered to them who wants to buy house for the first time.
- Home Loan for Construction– If you want to construct a house in an existing land, you are offered this home loan.
- Home Purchase Loan- It is designed for those who wants to buy a flat or house.
- Home Renovation/Extension Loan- This loan is ideal for those who wants to renovate or extend their house or property.
- Plot Loans– If you want to buy a plot of land to construct a house, this loan is ideal for you.
- Balance Transfer Home Loan- To get a lower home loan interest, you transfer your home loan from one bank to another.
- Home Loan Top-up- It helps in borrowing an amount over your prevailing home loan.
Eligibility Criteria to apply home loan online
- Age– Both salaried and self-employed person with minimum and maximum age limit of 18 to 65 years
- Loan amount– Rs. 5 lakhs to Rs. 20 crores
- Loan Tenure– 1 year to 30 years
- Interest Rate– Minimum 8.65%
- Processing Fees– Upto 1%+Taxes
Apply Home Loan Online through FreEMI
You can apply home loan online through FreEMI.
- First, you need to visit the website of FreEMI and click on the ‘Loan’ tab.
- Under the ‘Loan’ tab, click on the Home Loan option to apply home loan online.
- Then you need to provide your name, required loan amount, company name, monthly income, mobile no., residing city name and e-mail id to apply home loan online.
- You need to fulfill the required eligibility crtiteria for successful apply home loan online.
- Lastly, you need to submit all the above mentioned details on the FreEMI website.