Some of the factors that are considered in deciding the eligibility criteria for housing loan are :

• Age
• Capacity to service the loan
• Stable source of Income
• Fixed financial liabilities
• Stability of occupation
• Repayment capacity
• Willingness to repay

The minimum age requirement for availing any type of Housing Loan is 21 years, and the maximum is 55 years. The maximum age can be relaxed in deserving cases up to 60 years.

Prosper Housing Finance Ltd. provides the following types of housing loans :

Home Loans for construction/purchase of House or Flat.

Loans for purchase of plot and construction thereon.

Home Renovation/ Repair Loan.

Loan Against Property.

Yes. Prosper Housing Finance Ltd. provides loan to self-employed professionals for purchase of commercial property for use of their office./practice.

Prosper Housing Finance Ltd. provides housing finance from a minimum amount of Rs. 1 lakh to a maximum limit of 1 crore, under, special circumstances the maximum amount is relaxed. Up to 85% of the cost of property (cost mentioned in the deed + registration cost), including registration charges can be financed, subject to other terms and conditions. The loan amount is determined on the basis of repayment capacity of the applicant taking into account his/her income, age, assets and liabilities.

No, at present we offer only Fixed rate of interest to suit your needs.

Option of selecting the tenure is subjective and depends upon case to case with the eligibility factor keeping in mind. This tenure can be for a maximum period of 20 years, provided that the tenure does not extend beyond your reaching 60 years of age or retirement age, whichever is earlier.

For a Salaried Person, the following documents are required :

• 3 months Salary Slip
• Last 6 months Bank Statements
• Form 16 of last two years

For a Self-Employed person, the following documents are required :

• Last 3 years Balance Sheet, profit & Loss Account
• Computation of Income & IT Return attested by CA
• Certificate of Practice (If Applicable)
• Latest One year bank statement
• Business Profile

Common Document :

• Residence Proof
• 2 Photographs
• Date of Birth Proof
• Educational Qualification Certificate

Housing loans are generally for longer tenure, therefore we always prefer a co-applicant in your interest as well as to enhance your loan requirements. You can include your wife/husband or close relatives as co-applicant.

EMI is an uniform lump sum installment amount, which contains part of principal amount and interest component. EMI remains constant throughout the loan period.