Owning a home is a cherished dream for every individual and family. For a first-time homebuyer, it holds deep emotional value — a symbol of security and accomplishment. For a second-time buyer, it often serves as a strategic investment aimed at appreciation or rental income.
In today’s urban landscape, with rising property prices and increasing living costs (rentals, education, healthcare), buying a home solely through personal savings, fixed deposits, or traditional savings instruments like chit funds has become increasingly difficult. The most practical solution? A Home Loan — offered by Banks and NBFCs.
Why Home Loans are the Preferred Option
– Affordable Financing: Home loans are the most economical form of borrowing, with interest rates much lower than personal loans or business loans.
– Security for Lenders: Banks/NBFCs prefer home loans because they are secured against the property, with a historically lower default rate.
– Long Repayment Tenure: Tenures can extend up to 30 years, making EMIs more manageable.
– Tax Benefits: Borrowers can claim deductions on principal (Sec 80C) and interest (Sec 24b) under the Income Tax Act.
Eligibility Factors for a Home Loan
Home loans are sanctioned based on several critical criteria:
– Applicant’s Monthly Income & Repayment Capacity
– Credit Score (CIBIL) – Preferably 750+
– Business/Employment Stability (2–3 years minimum preferred)
– Legal and Technical Clearance of the Property
– Builder and Project Approval Status
DS Consultants plays a pivotal role in assisting clients by evaluating eligibility, identifying suitable lenders, and ensuring proper documentation and compliance.
Important Features of a Home Loan
– Property Verification: Prefer RERA-approved projects for smoother loan approvals.
– Loan Sanction & Disbursement: Approved projects are processed faster.
– Part-Payment & Pre-Closure: Many banks offer flexible repayment options with no penalties.
– Loan & Property Insurance: Safeguard your financial future with recommended insurance options.
– MODT: Memorandum of Deposit of Title Deed charges are usually 0.5% to 0.6%.
Typical Costs Associated with Home Loans
– Processing Fees
– Legal & Technical Evaluation Charges
– MODT Charges
– Stamp Paper & Documentation Charges
– Property Insurance Premium
– Optional Life Insurance
– Registration Charges
TDS on Property Purchase Above ₹50 Lakhs
– Resident Indian Buyers: Must deduct and pay 1% TDS to the government on the property value above ₹50 lakhs.
– NRI Sellers: TDS rate can go up to 20% or more depending on capital gains and applicable DTAA benefits.
Planning Early Has Its Perks
Opting for a home loan early in your career can:
– Increase your loan eligibility due to a longer repayment horizon
– Lower EMIs due to longer tenures
– Help plan for future expenses like children’s education, medical needs, and retirement
Why Choose DS Consultants?
With 25+ years of financial expertise, DS Consultants acts as a trusted loan advisory partner for:
– Home Loan Sanction Assistance
– Project Verification Support
– Loan Comparison Across Banks/NBFCs
– End-to-End Application & Disbursement Support
– Legal & Technical Due Diligence
– TDS & Registration Compliance for Resident & NRI Clients
Final Thoughts
A home loan is not just a financial product — it’s a stepping stone to realizing a lifelong aspiration. With the right guidance, understanding, and planning, the journey to home ownership can be smooth and rewarding.
Whether you’re buying your first dream home, investing in a second property, or planning for the long-term financial future of your family, DS Consultants is here to walk the journey with you — from eligibility to keys in hand.
📞 For personalized home loan advisory, contact us at:
📧 contact@dsconsultants.org
📱 +91 83109 79804
