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Having their own house is a dream cherished by many. A decade ago, only a few could materialize it. But now, everybody can. Wondering how? Well, it’s because of home loans. Today, any bank or financial institution can lend you a loan against land in Mathura and you can buy yourself a “home sweet home”. In this article, Bhumi Finance will take you through the nuances of a home loan and how you can apply for it. Hang tight and read till the end:

What is a home loan?
A home loan against property in Mathura is a loan that can be taken from a bank or a financial institution by keeping a piece of land or property as collateral. A home loan against property can be availed to buy a house, a flat, or a plot. It can also be used to finance the construction of a house or simply its renovation. Any individual who is above the age of 18 can avail of a home loan.

Why should you opt for a home loan?
The word “loan” itself makes us skeptical of it. Here are some reasons why one should opt for a home loan:

• Property dealers cannot trick you.

Whenever a bank or a financial institution gets a home loan against property, they are bound to do a thorough check on the property or the plot of land at hand. This reduces the possibility of property dealers and other concerned people tricking you into a scam or fraud.

• Get some leeway while paying your ITR.

One of the biggest benefits of availing of a home loan against property in Mathura is getting a leeway in your ITR filing. You can get an exemption of about 1.5 lakh INR on principal repayment, 2 lakh INR on interest payments, and up to 1.5 lakh INR for stamp duty.

• Low-interest rate and long repayment tenure.

Home loans usually can be availed at a low-interest rate and can be paid back after 25 to 30 years. Such a long repayment tenure makes home loans far better than other kinds of loans.

• You can easily get a top-up.

In cases of a financial crunch, you can easily score a top-up. Given that the property or the plot of land has undergone due diligence and is already mortgaged at the bank or the financial institution, this process is quick and hassle-free.
So, these were some benefits of availing of a home loan. Wish to apply? Well, the next section will tell you how to go about a home loan against land property.

How to apply for a home loan?
In order to apply for a loan against home in Mathura, you can approach any bank or financial institution. Just do a little research before settling down with your lender. At Bhumi Finance, we have been extending home loans at lucrative rates since our very inception. You can reach out to us with your home loan application and the following documents anytime:

• Two passport-size photographs.
• Any proof of identity. (Aadhaar card, PAN card, ration card, voter ID card, passport etc.)
• Any proof of address (Aadhaar card, PAN card, ration card, voter ID card, passport, electricity bill, etc.)
• Account statement of the last 6 months.
• Latest salary slip.
• A filled copy of Form 16.
• We will be charging a small processing fee and you are done. 

Sounds easy, no? Now, get a loan against land in Mathura at lucrative rates at the best financial institution in India - Bhumi Finance. Reach out to us at https://bhumifinance.com/.