home loan

Many dream of owning their own homes as a milestone in their lives. Having your own home means you can customise it to meet your needs and tastes. 

Although building your dream house can be costly, it is an investment worth making. A home loan can assist you in supplementing your budget and providing financial assistance. This article will focus on the eligibility,  home loan calculator, documents required, and the procedure to apply for a home loan under HDFC. You can use a Home Loan Calculator to gauge the cost of building your shelter. Specifically, you can also take assistance from the HDFC Home Loan Calculator to decide correctly.


To be eligible to apply for home loan, you need to keep the following points in mind:- 

  • You must be either a resident of India or an NRI.
  • You should be a salaried person or self-employed.
  • The Minimum age for applying is 21 years, while the maximum is 65 years. 
  • The minimum salary should be ₹10000 per month.
  • The minimum business income should be ₹2 lakh p.a.
  • Reiterating again, you can also use the HDFC Home Loan Calculator to check your eligibility on your own. 

What is a Home loan Calculator?

A Home Loan Calculator is an online tool that helps you calculate your monthly loan instalment amount. It takes a few minutes to fill out the form, which asks you for your preferred loan amount, interest rate, and loan term. 

You can use the HDFC Home loan calculator, which will calculate your home loan EMI as soon as you click the “Calculate” button.

HDFC offers loans at 8.10% p.a. 


You must meet the required Home Loan eligibility criteria before applying for the loan. You can seek expert advice or check the final amount using the HDFC Home loan calculator. You can follow these few steps to apply for a home loan:

  1. The first step is to fill out a loan application form. You must fill in information like your name, address, contact details, educational details, employment type, and monthly income. Providing Income Tax returns (ITR) for the last two years and other income documents is mandatory for self-employed individuals. 
  2. You must submit a few documents as part of the procedure, which this article will discuss below. 
  3. The approval process will begin after successfully submitting the application form and the documents. The bank will initiate the process of verifying all your documents and the additional information provided by you.
  4. The bank will send you a loan sanction letter once your loan application gets approved. This letter will act as evidence of your loan approval. The bank will enclose all the essential details like the loan amount you are eligible for, the rate of interest (fixed/ variable), tenure of repayment and the terms and conditions of repaying with this letter. 
  5. After signing the sanction letter, you must pay a one-time secure payment fee either after or before the final loan sanction. 
  6. The bank will conduct legal and technical verification before disbursing your loan. The legal part includes checking if the documents submitted have any conflicting information. While on the other hand, the technical part includes checking the valuation and the status of the property you wish to buy.  
  7. The bank will send you a final agreement letter as a final step to disburse your loan and turn your dream of owning a home into a reality. It will also provide a detailed housing loan EMI schedule for you to follow post the disbursal of your loan. 


You will need the following documents to apply for a home loan:

  • Proof of identity- Driving licence, Voter ID, PAN card, Aadhar Card
  • Proof of address- Copy of any bill
  • The last three months’ salary slip
  • Proof of employment
  • Last six months’ bank statement
  • Form 16


This article enlisted every detail to assist you in applying for a loan. This article mentions the eligibility criteria, the documents required and the application procedure for a home loan. Additionally, this article mentions a home loan calculator and how you can use the HDFC Home loan calculator specifically to know your final loan amount.