House Purchase Made Easy

1. House Purchase Made Easy: Eligibility, Benefits, and How Singalsons Helps You Own Your Dream Home Owning a home is more than just a financial milestone—it’s a lifelong dream for many families in India. However, with rising property prices, most people rely on house purchaseloans to make this dream a reality. The good news is that with the right financial partner, the process of buying a house can be simple, affordable, and stress-free. At Singalsons, we understand how important home ownership is. That’s why we provide tailored financial solutions, expert guidance, and quick loan processing to help you buy your dream home with confidence. This guide will walk you through the eligibility, benefits, and process of house purchase loans, and how Singalsons makes it easier for you. Understanding House Purchase Loans A house purchase loan is a financing option offered by banks and NBFCs that enables individuals to buy a new or resale house. Instead of waiting for years to accumulate funds, you can secure financing and repay it conveniently in the form of EMIs (Equated Monthly Installments) over a chosen tenure. The loan amount usually depends on your income, credit history, and the property’s market value. Benefits of House Purchase Loans

2. 1. Easy Access to Home Ownership The biggest advantage of a house purchase loan is that it removes financial barriers, helping you own a home sooner rather than later. 2. Affordable Interest Rates House purchase loans generally have competitive interest rates, especially compared to personal or unsecured loans. This makes repayment easier and cost-effective. 3. Flexible Repayment Tenure The majority of lenders provide payback terms between 10 and 30 years. With longer tenure, you can enjoy smaller EMIs, making the loan manageable. 4. Tax Benefits Under Sections 80C and 24(b) of the Income Tax Act, you can claim deductions on both the principal repayment and interest paid, reducing your overall tax burden. 5. Property Appreciation When you buy a house through financing, the property often appreciates in value over time, giving you both a home and a valuable long-term investment. Eligibility Criteria for House Purchase Loans Every lender has slightly different criteria, but here are the common requirements: 1. Age ● Salaried applicants: 21–60 years ● Self-employed applicants: 21–65 years 2. Income You must have a stable income source. The higher your income, the higher loan amount you can qualify for. 3. Employment Type

3. ● Salaried Professionals: Government and private employees ● Self-Employed Individuals: Business owners, freelancers, and professionals like doctors, lawyers, and CAs 4. Credit Score A CIBIL score of 750+ is generally preferred. A good score ensures faster approvals and lower interest rates. 5. Property Requirements The house should have a clear legal title and meet the lender’s property standards. Documents Required To ensure smooth processing, applicants usually need to provide: ● Identity Verification: Voter ID, passport, PAN card, and Aadhaar card ● Address Proof: Utility bills, Passport, Driving License ● Income Proof: Salary slips, ITR, Form 16 (for salaried); Business proof, financial statements, and GST returns (for self-employed) ● Property Documents: Sale deed, allotment letter, builder-buyer agreement, NOC from society/authority At Singalsons, we simplify the documentation process and guide you through every step. Step-by-Step Process of House Purchase Loan Buying a house through a loan may seem complicated, but with the right approach, it’s quite simple: 1. Application Fill out a loan application form with your personal, financial, and property details. 2. Documentation & Verification Submit the required documents. The lender verifies your identity, income, and property records.

4. 3. Loan Eligibility Assessment Based on your credit score, income, and repayment ability, the loan amount is calculated. 4. Property Valuation The property is technically and legally evaluated to confirm its worth and ownership status. 5. Loan Sanction & Disbursement Once approved, the loan amount is sanctioned and disbursed either directly to the seller or the developer. This procedure is quick, clear, and customer-friendly when using Singalsons. Smart Tips for Faster Loan Approval 1. Maintain a Good Credit Score – Pay existing EMIs on time to keep your CIBIL score strong. 2. Select Within Your Budget – Select a home and loan amount that are in line with your ability to repay. 3. Keep Documents Ready – Incomplete paperwork often delays the process. Have everything updated in advance. 4. Opt for Joint Loans – Applying with a co-applicant (like a spouse) increases eligibility and loan amount. 5. Select the Right Tenure – Longer tenure reduces EMI, while shorter tenure reduces interest outgo. Choose wisely. Why Choose Singalsons for House Purchase Loans? Buying a house is one of the most significant decisions of your life, and you need a financial partner you can trust. That’s where Singalsons comes in. Quick Processing We ensure faster loan approvals and minimal paperwork so you can focus on your new home, not the formalities. Transparent Terms

5. At Singalsons, there are no hidden costs or confusing clauses. Everything is explained clearly upfront. Wide Loan Options Whether you are buying your first home, upgrading to a bigger house, or purchasing a resale property, we offer customized loan solutions. Customer-Centric Support Our dedicated team provides personalized guidance at every step—from eligibility checks to final disbursement.