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Q.

Where to get a loan for a house ?

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Summary
You can get a loan for a house from banks, private lenders, or through government schemes. Banks are a common source, offering various loan options with differing interest rates, tenures, and eligibility criteria. Some popular banks include State Bank of India, HDFC Ltd., ICICI Bank, and Kotak Mahindra Bank, with interest rates generally ranging from 8.45% to 12.70%, although PNB Housing Finance can go up to 14.50%. Private lenders are independent entities that offer loans based on pre-determined terms and conditions. Additionally, government schemes aimed at affordable housing may be available if you meet the eligibility requirements. Services like NoBroker can help facilitate the loan process by connecting you with banking partners and offering tools to check eligibility and calculate EMIs.
0 2023-02-17T09:54:26+00:00

You can avail a loan for house purchase from a bank or other money lending institutions. But do note that the eligibility, interest rate, tenure and other aspects are going to differ from one institution to another. I struggled to get a home loan for a long time and after discussing it with my friends, I got to know about some banks which are the most reliable ones to avail a home loan from. So if you too have the query- where can I get a loan to buy a house, I can help you out. It will be best to avail a loan from these banks only but if you feel some other banks or institutions are safe as well, you can avail a loan from them as well. 

Choose the best banking partner and get your loan approved faster through NoBroker Home Loan service

Calculate your EMI for free using NoBroker’s EMI Calculator

 

From where can I get home loan?

It is better to avail a home loan from trustable banks. Here is the list of financial institutions from where you can avail a home loan and those are-

 
BANK NAME INTEREST RATE

State Bank of India*

8.60% – 9.50%

HDFC Ltd.

8.45% – 10.70%

ICICI Bank

8.75% – 9.80%

Bank of Baroda

8.85% – 10.60%

Union Bank of India

8.60% – 10.70%

Axis Bank

8.75% – 12.70%

Kotak Mahindra Bank

8.65% onwards

LIC Housing Finance

8.65% – 10.50%

Federal Bank

8.60% – 10.05%

Bajaj Housing Finance

8.70% onwards

IDFC First Bank

8.60% onwards

PNB Housing Finance

8.50% – 14.50%

 

Where to get a loan for first time home buyer?

You can avail a home loan from any of the banks mentioned above. They have been popular in the market since ages so it's better to opt for these banks rather than availing a home loan from other financial institutions. I availed my home loan through NoBroker. I was very tense about the process and hence opted for some experts to help me out. They have several banking partners and help to get your loan sanctioned within a week. You can

check your EMI through NoBroker for free

  • Check your home loan amount eligibility

  • Get up to 90% of the property’s value as your home loan

  • Select any of their banking partners

 

I am very happy with their service and shall highly recommend them. I hope you have understood where you should avail a loan for house purchase. 

  Read More:

What are the biggest myths about Home loans?

What are the checks to keep in mind before taking a home loan?

What is the current home loan interest rate in India?

My CIBIL score Is 690? Can I eligible for a home loan

 
0 2022-01-12T23:59:37+00:00

When I was looking to buy a house, one of the most important parts of the real estate journey was the finances. I got my house by taking a home purchase loan. It helped me fund my dream house and I couldn't be happier. If you are looking to buy a property, take a look at my answer below.

Where to get a loan for a house ? Banks :

Most banks provide their customers with various loans and loan options. Banks are usually the first choice when lending money for a home loan. You can get a home purchase loan from the bank of your choice. You can look at the interest rate being offered by banks and decide which loan is the best for you.

Private Lenders:

To answer your question Where can I get a home loan

?

As the name suggests, Private lenders can give you a house purchase loan. They are not associated with any organization or banking institution. Rather, they lend money for buying a home or constructing a home on pre decided terms and conditions.

Government Schemes:

There are many schemes that have been introduced and launched by the Government of India which focus on affordable housing. If you are eligible for any of the schemes, you might get a loan to buy a house.

This is the end of my answer about home purchase loan.Good luck !

Buy or rent the house of your dreams ! Check out the real estate platform NoBroker to see properties in your area. Get peace of mind by knowing all the details about your loan using NoBroker Home Loan Eligibility. Read more : What is the interest rate on home loans?     What happens to home loan when you sell house? What happens when you default on home loan?     When does emi start for home loan?    
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