Home Loans Counseling

Home loan is a Loan Product where Banks/ NBFCs provide funds for Purchase or Construction of a house/ residential property. The housing loan may be availed for buying a New house from Developer, or a resale of residential house. One can also avail a housing loan product, for the purpose of buying a plot of land and carrying out construction of residential Bungalow/ Tenement on the same, which is called composite loan.

At Real Value Consultants, we offer complete assistance at your door step that enables you to select the Best Home Loan Option among many available options. With our expertise we assist you through- out the entire process of availing Home Loan for your Dream Home, in some cases till your loan is repaid entirely. We have been associated with some of India’s largest Home Loan Providers like ICICI Bank, Axis Bank, Deutsche Bank, IDBI Bank, ING Vysya, Tata Capital, Bajaj Finance, AV Birla Finance, L & T Housing Finance for several years and our expertise lies in fetching you the best loan deal from the available options.


Documents required for availing Home Loan:

Generally the documents required to processing your loan application are almost similar across all the banks; however they may differ with various banks depending upon specific requirement etc. Following documents are required by financial institutions to process the loan application (Please note the list below is only indicative)


  • Age Proof
  • Address Proof
  • Income Proof of the applicant & co-applicant
  • Last 6 months bank A/C statement
  • Passport size photograph of the applicant & co-applicant

In case of Salaried

  • Employment certificate from the employer
  • Copies of pay slips for last few months and TDS certificate
  • Latest Form 16 issued by employer
  • Bank Statements

In case of Self-employeed

  • Copy of audited financial statements for the last 2 years
  • Copy of partnership deed if it is a partnership firm or copy of memorandum of association and articles of association if it is a company
  • Profit and loss account for the last few years
  • Income tax assessment order.

Apart from the above, in case you have already availed any loans like Car Loan, Home Loan, Education, Overdraft etc, details of the same shall be also be required.

Types of Home Loan

  • This is the basic type of Home Loan involving buying a Home directly from the developer.
  • Banks normally finance 80% of the aggregate cost of property ( i.e other costs incl Stamp Duty, Registration, Maintenance Deposit etc).
  • Normally developers projects are pre-approved with various banks. This means Banks have already checked & cleared the Project from Legal aspects.
  • Banks release money to developer depending upon progress of work at site.
  • Here Banks will critically check the age and condition of the House. That is to ensure that Home being purchased has sufficient residual life.
  • Legal scrutiny of the Property needs to be carried out independently.
  • This type of loan is for the renovation or repair of the home which is already bought
  • This type of loan is for the Extension/expansion of the home which is already bought, like adding extra Room to a flat or an extra Floor to Bungalow.
  • This type of loan taken when the borrower wants to construct a new house on a Plot which is already in possession of applicant.
  • In this case, Banks will verify the estimate of construction cost from an independent source. Needless to say that all construction approvals like Approved Plan, Work Commencement Certificate, need to be submitted upfront.
  • You may want to Transfer your pre-existing Home Loan from your present Bank to a new Bank to take benefit of lower rate of interest offered by another bank.
  • In many cases Banks offer Top Up (Additional) Loans along with Balance Transfer, depending upon Value of your House, Age of the Loan with present Banks etc.
  • It is that loan which is taken to purchase a land for residential construction to be done at a later date.
  • Normally Banks offer Plot Loan at 60-75% of aggregate costs.
  • Proof of Indian Origin needs to be established.
  • Credit Score from Local Agency may be sought.

Home Loan Approval Process & Various Steps Involved

  • First Step is to identify your Property

    In case you have shortlisted a few Developers’ Projects and yet to finalize, we may assist you as you as You may want to know about your Home Loan eligibility.

  • Know the Home Loan Eligibility

    Banks/ HFCs calculate Home Loan eligible amount based on your Profile, Regularity of Income, Repayment & savings habits etc.

  • Select the Best Home Loan Option

    Compare, Evaluate & Select the Home Loan option that benefits you the most. Comparing Rate of Interest charged by various Banks may be prime objective, but always bear in mind that Banks/HFCs charge Processing Fees, Administrative Fees, Legal Scrutiny Fees, Valuation Fees etc while processing Home Loan proposals. Real Value Consultants help you solve this riddle and choosing the most cost effective and speedy execution of your Home Buying deal. To compare the Rate of Interests offered by various banks/ HFCs, please get in touch with us.

  • Approach the Bank/HFC

    After we have mutually selected the lender, RV assists in filling application forms, completing documentation gathering which may be required by the chosen Bank/HFC. Lender requires complete details about financial assets, liabilities, other personal and professional information, along with details of property selected by you.

  • Sanction Process

    Once all documents are collected and collated along with the application forms etc, the Proposal is submitted to the Bank by us. Bank conducts various checks and conducts verification on various counts including CIBIL.

  • Bank's Sanction Decision & Offer Letter issuance

    Once all standard procedures and checks are carried out positively, Bank conveys its decision through Sanction/ Offer letter indicating Amount, Rate of Interest, Fees, EMI, Validity, Loan to Value Ratio etc. The approval of loan is at sole discretion of Banks/ HFCs.

  • Acceptance of Bank's Offer Letter

    You are then required to convey your acceptance to the Offer proposed by Bank/HFCs, once all the term and conditions mentioned in the offer letter are understood clearly.

  • Bank conducts Legal & Technical scrutiny of Property

    Banks then seeks legal documents of the property from the borrower to check authenticity of subject property, so as to keep them as security of the loan being given. Next stage is to conduct valuation (technical scrutiny) of the property which determines the loan amount sanction already by the bank. Pl note that the proposed loan amount is subject to satisfactory Legal & Technical scrutiny by the Banks.

  • Signing of Loan Agreement & Disbursal

    The borrower is then supposed to sign the loan agreement, submit Property related documents for completing the disbursement procedure. The bank then disburses the loan amount.

Loan Calculator

We provide you home loan calculator to find your home loan EMI


Being an NRI, posed certain procedural challenges for getting my Home Loans sanctioned. Real Value team ensured seamless Home Loan processing. Their experience was very useful. I strongly recommend Real Value Consultants!!!

Dr. Adarsh Mani
Ohio, USA