New Habitat Housing Finance

New Habitat Housing Finance and Development Ltd., also known as NHHFDL, is one of the most recent yet promising housing finance providers to have entered the market. They are in the process of firmly establishing themselves as one of the most trusted and reliable names in the sector of housing finance, while abiding by their mission of providing personalized home financing products to their customers. The various home loan products offered by the company carry several beneficial features like flexible EMI options, longer loan tenures, competitive rates of interest, tax benefits, minimal documentation and many other such benefits.

Types of Home Loans offered by New Habitat Housing Finance:

To better address the home financing needs of a diverse customer base, NHHFDL offers two types of home loans, which are Home Loans and Home Improvement / Renovation Loans.

Features of New Habitat Housing Finance Home Loans:

Home Loans:

• Purpose of Loan – The New Habitat housing Finance home loan can be availed for multiple home financing purposes like purchase of a new residential bungalow/apartment/house, for the purchase of a property or unit which is under construction, for construction of a residential property and also as a composite loan for the purchase of a plot of land and the construction to be carried out on the same thereafter.
• Term of Loan – To help facilitate a comfortable repayment period, this home loan can be taken for a time period ranging from 5 years to 25 years.
• Amount of Loan – Applicants can avail this loan for an amount which is above Rs 1 lakh.
• Minimal documentation – To avail this home loan, applicants need not be bothered with providing extensive documentation. This loan can be taken by providing some basic minimal documentation to the company.
• Transparent, Efficient and Quick Loan Processing – As is self-explanatory, applicants can be assured of a loan approval and sanction process that is not only transparent at every step, but it is also speedy and efficient.
• Hassle-Free Customer Service – Not all of us are adept at comprehending the intricacies concerning home loans. This is why, NHHFDL has set up a special customer service which will dedicatedly tend to any issues or queries which any home loan applicant may have.
• Amount of Loan Available – Applicants can avail this home loan up to a n amount that must not exceed 80% of the market value of the property to be purchased.
• Freedom from Loan Foreclosure Charges – If you wish to pre-close your NHHFDL home loan, you will not be charged any fee, as is usually charged by other loan providers, towards doing the same.

Home improvement / Extension Loan:

• Purpose of Loan – Applicants can avail this loan for the purpose of carrying out any renovation, repair or maintenance to an existing residential structure/house. This loan can also be used for the purpose of extending an existing house or residential unit, such as constructing a new room, adding a new floor to the existing house.
• Term of Loan – Applicants can avail this loan for a time period ranging between 5 years to 25 years, for easy EMI repayment.
• Amount of Loan – This loan can be taken for an amount which is above Rs 1 lakh.
• No Prepayment charges – There are no prepayment charges applicable on this loan, which means that you are not required to pay any fees in case you want to pre-close your loan before the end of its tenure.
• Minimal documentation – To avail this home loan, applicants need not be bothered with providing extensive documentation. This loan can be taken by providing some basic minimal documentation to the company.
• Transparent, Efficient and Quick Loan Processing – As is self-explanatory, applicants can be assured of a loan approval and sanction process that is not only transparent at every step, but it is also speedy and efficient.
• Hassle-Free Customer Service – Not all of us are adept at comprehending the intricacies concerning home loans. This is why, NHHFDL has set up a special customer service which will dedicatedly tend to any issues or queries which any home loan applicant may have.

New Habitat Housing Finance Home Loan Eligibility:

Home Loans:

Applicants who wish to apply for this home loan must adhere to the following eligibility criteria:

1. They must not be below 21 years of age at the time of applying for the loan.
2. They must not be above the age of 70 at the time of loan maturity.
3. This loan is available to salaried and self-employed individuals.

Home Improvement / Extension Loan:

Applicants who wish to apply for this home loan must adhere to the following eligibility criteria:

1. They must not be below 21 years of age at the time of applying for the loan.
2. They must not be above the age of 70 at the time of loan maturity.

New Habitat Housing finance Home Loan Interest Rate:

New Habitat housing Finance provides home loans at very attractive rates of interest starting from 12% to make it easier for individuals to realize their dream of owning a house of their own. For both their home loans, NHHFDL offers a floating rate of interest. This means that the rate of interest is dependent on the market conditions and will vary accordingly.

New Habitat Housing Finance Home Loan Documentation:

In order to apply for any New Habitat housing Finance home loan, customers must provide the following documents. The document requirement will vary for salaried, self-employed professionals and self-employed businessmen.

Salaried Applicants:

1. Past 3 months salary slip or salary certificate. If the salary has variable components like Incentives or Over Time, then salary slip/salary certificate for the past 6 months must be provided.
2. KYC (Know Your Customer Documents) a requested by the loan provider.
3. Most recent Income Tax Returns or Form-16
4. Proof of continuity of employment / Form-16 for the previous year’s salary income.
5. Copy of last 6 months bank statements and all pass books, including that of the front page.
6. Documents / details pertaining to any current loan obligations, account statement or repayment track record.
7. Profile of the company/organization of employment, in case of a lesser known organization.
8. Copies of the construction map and documents of the property in question/to be purchased.

Self-employed Businessmen:

1. KYC (Know Your customer) Documents.
2. Copy of Income Tax for the last 3 years, along with computation of income, duly attested by a chartered accountant.
3. Copy of the firm’s Profit & Loss Account and Balance Sheet, for the past 3 years, duly attested by a chartered accountant.
4. Brief profile of the business to be provided on the letterhead of the firm.
5. Past one year’s bank statement for the Current and Savings Account.
6. Copy of the Shop/Establishment License / VAT Registration or any other valid license/registration document.
7. Partnership Deed copy (if applicable).
8. Tax Deduction Certificate / Form-16A (copy, if applicable).
9. Contract details (if applicable).
10. Copy / challans of Advance Tax paid / Self-Assessment Tax paid.
11. Copies of the construction map and documents of the property in question/to be purchased.
12. Documents / details pertaining to any current loan obligations, account statement or repayment track record.

Self-employed Professionals:

1. KYC (Know Your customer) Documents.
2. Copy of Income Tax for the last 3 years, along with computation of income duly attested by a chartered accountant.
3. Copy of the firm’s Profit & Loss Account and Balance Sheet, for the past 3 years, duly attested by a chartered accountant.
4. Brief profile of the business to be provided on the letterhead of the firm.
5. Past years bank statement for the Current and Savings Account.
6. Copy of the Shop/Establishment License / VAT Registration or any other valid license/registration document.
7. Partnership Deed copy (if applicable).
8. Tax Deduction Certificate / Form-16A (copy, if applicable).
9. Contract details (if applicable).
10. Copy / challans of Advance Tax paid / Self-Assessment Tax paid.
11. Certificate(s) of Educational Qualification (copy).
12. Copy of Certificate of Professional Practice.
13. Salary Certificate (for doctors with a salaried income).
14. Copies of the construction map and documents of the property in question/to be purchased.
15. Documents / details pertaining to any current loan obligations, account statement or repayment track record.

New Habitat Housing Finance Home Loan EMI calculator:

When applying for a home loan, one must keep in mind that the EMI payable towards a home loan will become a monthly expense. Thus, for better future financial planning, it is always helpful to know, how much our home loan will cost us on a monthly basis. For your NHHFDL home loan, you can do so easily with the help of home loan EMI Calculator, which is available on the NHHFDL website. In order to make use of this tool, you will be asked to provide your loan related information like the loan amount which you require, the time period for which you want to repay the loan and also the interest rate applicable on your chosen loan. Once the required information has been input, you have input the following information, the tool will immediately display not only the EMI amount which you are required to pay every month, but also the total amount of interest which you have to pay, along with the total amount of payments (principal amount + interest applicable) which you will be making towards your loan.