Home loan guide: from property search to disbursal

A home loan is a secured loan for buying, constructing or renovating a residential property. The property is generally held as security by the lender until the loan is fully repaid, which is why home loans often come with longer tenures than other loans.

Stages of the process

The journey usually starts with checking your eligibility and comparing lender options. Once you choose a property, the lender verifies the property documents and your application before sanctioning the loan and releasing funds.

“A longer tenure lowers the EMI, but it also increases the total interest you pay over time.”

Documents to keep ready

Expect to provide identity and address proof, income documents, bank statements and property papers such as the sale agreement and title documents. Requirements vary between lenders.

Plan your down payment and additional costs such as registration and stamp duty in advance, so there are no surprises late in the process.