There are various types of home loans available, including:
● Home Purchase Loan : For buying a new or existing property.
● Home Construction Loan : For constructing a new house.
● Home Renovation Loan : For improving or renovating an existing property.
● Home Extension Loan : For expanding your current property, such as adding rooms.
● Balance Transfer Loan : Transferring your existing home loan to a new lender with better terms.

Eligibility for a home loan is based on several factors, including:
● Age between 21 and 65 years.
● A stable source of income (salaried, self-employed, or business owner).
● A good credit score (typically above 650).
● Property ownership or down payment capability (usually 10%-20%).
● Ability to repay the loan as assessed by the lender.

Documents typically required for a home loan include:
● Proof of identity (Aadhaar, PAN, Passport).
● Proof of address (Utility bill, Passport).
● Income proof (Salary slips, ITR, Bank statements).
● Property-related documents (Sale agreement, Title deed).
● Bank statements for the last 6 months.

Interest rates on home loans vary depending on the lender and the applicant's profile. Typically, home loan interest rates range from 8% to 12% annually, based on factors like credit score, loan amount, and repayment tenure.

Home loan tenures generally range from 10 to 30 years, allowing you to choose a repayment period based on your financial situation. Longer tenures result in lower EMIs, but higher overall interest payments.

The amount of home loan you can get depends on your income, credit score, and the value of the property. Typically, lenders offer 75% to 90% of the property value as the loan amount, with the remaining as a down payment.

Home loan EMI is calculated based on the loan amount, interest rate, and tenure. You can use an EMI calculator to estimate monthly payments. Lenders usually offer fixed or floating interest rates, which affect the EMI calculation.

Yes, it is possible to apply for a home loan with a low credit score, but your eligibility may be affected. You may face higher interest rates or be required to provide additional documentation or collateral.

Yes, many lenders allow you to prepay your home loan either partially or in full. However, some lenders charge prepayment penalties or fees, especially for fixed-rate loans. Always check the terms before making early repayments.

Missing an EMI can lead to penalties, a decline in your credit score, and, in extreme cases, foreclosure of the property. It’s essential to maintain regular EMI payments to avoid any adverse financial consequences.

Yes, you can transfer your home loan to another lender for better terms or lower interest rates. This process is known as home loan balance transfer. Be sure to check for any associated charges and transfer conditions before making a decision.