Home Loans for Resale Flats and Properties by Muthoot Housing Finance Company Ltd.
A great deal, a better location, a nicer home for your family, whatever your reason for purchasing a home, We make the decision easier with a resale home loan! Whether you want to buy an independent home or a flat in a privately built up premise or an existing Co-operative Housing Society or Apartment Owners' Association, we are here to help you achieve your dreams with our easy to avail resale loans!
Benefits and Features of a Resale Home Loan
A home loan for a flat on resale is not much different than a regular home loan, except that it is given against a home that was previously owned by another person. You can take a loan for a resale flat at attractive rates. Our experts will undertake a thorough search of all legal and municipal documents to ensure that you have a clear title deed to the property.
Security and Guarantors
The property itself becomes the security when you avail a resale home loan. Depending on approving authority ... read more discretion, securities or guarantors are not mandatory. However you need to have a co-applicant for the loan which can be salaried or non salaried.
Tax benefits of home loans
Up to Rs 1,50,000 towards interest on a home loan is deductible from your income according to Section 24(b) of the income ... read more tax Act 1961. The principal is deductible up to Rs 1,00,000 under Section 80Cand 80 CCE. So, you essentially get capital at a low interest rate and can save tax on repayment too.
Competitive Interest Rates & Faster Approval & Disbursal
Resale Loan is offered by Muthoot Housing Finance Ltd and available through select branches of Muthoot FinCorp Ltd. The loan is offered for a tenure of up to 20 years on loan amounts going up to Rs. 30, 00,000.. The time taken for approval is dependent on the submission of documents and completion of all relevant processes. You should have proof that 20% of the cost of the property is paid to the previous owner of the property. You can avail our loan - leaving your capital free to invest or use in business for higher returns. Choose from a variety of repayment options to fit your varied needs.
Resale Home Loan Eligibility Criteria
The eligibility criteria to avail a home or flat resale loan is simple and easy.
- Indian Citizenship
- Age must be 21 or above when you apply or 65 when your loan tenure ends.
- Should be salaried or self-employed.
Documents needed for Resale Home Loan
Some simple documents are required to be submitted when you are planning to take a resale home loan
Address Proof
- Identity proof and address proof in the form of Voter Id, passport, driving License, or Aadhar card.
Identity Proof
- Duly filled application form and a recent passport size photograph.
For Self-employed
- For a resale loan Title Deeds including the previous chain of the property documents, Receipt/(s) of the initial payment made to the seller along with a copy of the agreement to sell, if executed is required.
For Salaried Persons
- Before you purchase a property, you need to have a title and document search conducted by a competent advocate. Aadhar, PAN card, salary slip
Please remember that each document that you submit for verification against your loan against property in India should be self-attested. You can contact our customer care representatives at
1800 102 1616 for more details.
How to Apply for Resale Home Loan
Once you have identified a property and started seeking a resale loan, all you need to do is walk into your nearest branch of Muthoot Housing Finance Company Ltd, or Muthoot FinCorp or call us on 1800 102 1616 for easy loan application.
The property documents need to be complete. Use the EMI calculator to figure out the amount and tenure of the loan you require and reach a suitable figure.
Our customer care representative will help you check the same. You then need to fill a form, submit all the documents and you are on your way to avail a resale loan.
First-hand account of customer experiences
MUTHOOT BLUE SOCH STORIES
I am a silk merchant from Ramanagar and I was looking out for a home loan. One day I came across a person from Muthoot Housing Finance subsidiaries of Muthoot FinCorp Ltd. doing a marketing activity near my Business Premises. After that it struck my mind that I may require a home loan as my savings might not be sufficient to complete my house construction. So, I approached Muthoot for a home Loan. One thing what I liked about Muthoot ...
Same is the case with another Customer, Shantaraju. He also was working under someone and wanted to set up his own Silk Twisting machinery. Muthoot Housing Finance subsidiaries of Muthoot FinCorp Ltd. has helped Shantaraju set up his own business by providing home loan. Below is the picture of Shantaraju and his wife working on their Silk Twisting Machinery. Shantaraju , has set up his own business, employs 2 people, and earns a lot. Not only this, he pays his monthly ...
This is Sheshadri, who was working in a power loom. Although he had his dreams of setting up his own power loom, he didn’t have the sufficient capital to start up his own power loom. He approached Muthoot FinCorp Ltd. for a gold loan for this purpose and he was informed there about the home loan available from Muthoot Housing Finance subsidiaries of Muthoot FinCorp Ltd. He also got to know about the process and procedures of the housing finance ...
I am Kumar from ramanagar. I own a floor mill and I grow mulberry plants and I harvest cocoons. Everyone has their own dream of building a house. Even I had one to construct a house in my plot I own in ramanagar. I had a shortage of funds and even some relatives refused me to offer help. That time I went to Muthoot FinCorp Ltd. in search of a gold loan, and they told that Muthoot FinCorp Ltd. is ...
I run a chicken shop in Anekal. I always thought of expanding my business and wanted to open my own poultry farm. For this to come into existence, I needed some funds. My savings also was not sufficient. And one of my friend referred me to Muthoot Housing Finance Company Ltd. subsidiaries of Muthoot FinCorp Ltd. and asked me to go and enquire there for a housing loan. Thankfully, Muthoot Housing Finance Company Ltd. came to support me by offering ...
Why Choose Muthoot Blue for A Resale Home Loan?
Muthoot Blue (Muthoot Pappachan Group) has a reputation that has been shaped over decades with high-quality practices, total customer satisfaction, and steady growth. Today, Muthoot FinCorp, our flagship company, is one of the largest NBFCs in India and we continue to work with the aim of providing timely credit to common man with Blue Soch. Resale loans are designed to make it easy to own one’s dream ride!
- We have over 4200 branches across India. Visit your nearest Muthoot Blue branch to get a loan quickly and without any hassle.
- Nearly 1,00,000 customers walk into our branches daily and are assured of trustworthy and simple services.
- Our customer-centric approach and innovation over the past 133+ years without compromising on the God-given values of trust, truth, transparency and tradition is what helps us in empowering the human ambitions.
Now turn your dream of owning a home into reality with Muthoot Blue – all you need to do is apply for our loan which comes with many benefits. Trust us: we will offer you the home loan to buy a house or flat on resale in India!
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