New Delhi Home Loan 2026
Eligibility for Home Loan in Delhi
Eligibility Criteria | Requirement |
Age | Minimum age: 18 Maximum age: 65 |
Net annual income | At least a minimum annual income of Rs.5 lakh is required depending on the type of employment |
Employment | Self-employed or Salaried |
Residence | A permanent residence or rented residence where you have resided for at least one year prior to the loan application |
Credit score/rating | A good credit score obtained from a recognised credit bureau |
What are the factors that decide my home loan amount eligibility?
Here are a few factors that home loans lenders consider while computing the home loan amount you are eligible for.
- The banks or NBFCs ensure that your Equated Monthly Instalments (EMIs) is limited to 50% of your monthly income.
- The EMIs of other ongoing loans, if any, are also taken into considered when deciding the maximum home loan amount, you are eligible for. EMIs of any other ongoing loans will eventually lower the maximum home loan amount you are eligible for.
- Another important aspect to remember before you apply for home loan is that most banks and NBFCs disburse only up to 85% of the property value.
How do I improve my eligible home loan amount?
Here are a few ways you can increase your eligible home loan amount:
- You can make your spouse a co-applicant while applying for home loan. With your spouse's monthly income being considered during the home loan approval process, the eligible loan amount will also increase.
- You can consider choosing longer loan tenures to increase the loan amount you are eligible for.
- You can also, alternatively, add your parents as co-applicants while you apply for home loan.
To know more about your home loan eligibility, visit /home-loan.html?variant=slide
Documentation Required to apply for a Home Loan in Delhi
Purpose | Documents |
Proof of Identity |
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Proof of Income |
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Other Documents |
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Types of Home Loans offered in Delhi
Banks and NBFCs offer a wide array of home loan products to choose from. Depending on the customers' requirements and purpose, home loans in Delhi can be classified into the following types.
Type of Home Loan | Purpose |
Home Loan for Purchase | Can be availed by eligible borrowers looking to purchase a new house/flat or purchase an already owned property |
Home Loan for Construction | Suitable for those looking to construct their own house rather than purchasing an already constructed property |
Home Improvement Loan | Suitable for those who are looking to repair or renovate an existing property |
Home Conversion Loan | Can be availed if you wish to move to a new house/flat after having already availed a home loan before and purchases a house/property with it |
Home Loan for Extension/Expansion | Offered to prospective borrowers who are looking to extend/expand or alter the structure of their existing property/house |
Home Loan Balance Transfer | Can be opted by those who wish to transfer his/her existing home loan from the existing lender to another home loan due to reasons such as lower interest rates and better customer services offered by the other bank |
NRI Home Loan | NRI home loan are specifically designed for Non-Resident Indians (NRIs) who are looking to purchase a residential property in India. The procedures and formalities involved in the approval process for NRI home loans is different from the regular home loans offered by the banks. |
Top Banks for Home Loans in Delhi
- Axis Bank
- HDFC Ltd. Bank
- Kotak Mahindra Bank
- Canara Bank
- Aditya Birla Capital
- LIC Housing Finance Limited
- Indiabulls Housing Finance
- State Bank of India
- Kotak Mahindra Bank
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