DHFL Home Loan Eligibility

Please Note: DHFL is not a Paisabazaar partner. Offers would be from partner banks/NBFCs only.

Customers must check for DHFL home loan eligibility to make sure they apply for DHFL home loan in the best possible way. Given below is the general DHFL home loan eligibility criteria that all customers need to fulfill to apply for DHFL home loan .

DHFL home loan eligibility criteria differ from one loan scheme to another. To qualify for DHFL home, below are the detailed eligibility criteria for customers.

Also Check: Best Bank for Home Loan Interest Rate

Your eligibility for DHFL home loan should be supported by documents as required by the lending institution. Customers should provide the complete and correct documents at the time of submitting the loan application. Check the list of DHFL home loan documents below:

1. KYC Documents:  ID & Address Proof (Any One Required)
   • Aadhaar card
   • PAN card (Mandatory, if income is considered for loan eligibility calculation)
   • Valid Passport
   • Voter ID card
   • Driving License
   • Utility Bill: Electricity, Telephone, Post paid mobile, water bill etc.
   • Ration card
   • Letter from employer
   • Bank statement /copy of Pass book reflecting address
   • Valid Rent Agreement
   • Sale Deed
2. Income Documents
   • For Salaried Individuals
     • Salary slips for the last 2 months or salary certificate (*If variable components like over time and incentives are reflected, then salary slips for the past 6 months are required.)
     • Cash Salary – Income details on Company Letterhead
     • Copy of bank statements for the past 3 months (salary account)
   • For Self Employed Professionals
     • Certificate of qualification for professionals: CA, doctors or architects
     • Copy of last two years’ income tax returns, along with computation of income
     • Copy of last two years’ P/L account with all schedules and audited balance sheet, wherever applicable
     • VAT or Service Tax returns or TDS Certificate
     • Bank statement for the last 6 months (Savings account, current account and O/D account)
   • For Self Employed Non Professionals
     • Copy of your last two years’ income tax returns, along with computation of income
     • Copy of last two years’ P/L account with all schedules and audited balance sheet, wherever applicable
     • VAT or Service Tax returns or TDS Certificate
     • Bank statement for the last 6 months (Savings account, current account or an O/D account)
3. Property Documents
   • Allotment letter from builder
   • Agreement of Sale
   • Registration and stamp duty receipt
   • Index- ii
   • NOC from builder
   • Own Contribution Receipt (OCR)
   • All builder linked documents (Applicable for cases which are not approved or previously not funded by DHFL)
   • Development Agreement
   • Tripartite Agreement
   • Partnership Deed
   • Sale Deed
   • Title Search Report
   • NA order

Note: Original documents are required for verification purpose only

• Credit Score – Your credit score shows how well you have handled your debt in the past. Lenders give out loans to customers who can handle their debt well. If you handle your debt responsibly, your credit score will increase, thus increasing your home loan eligibility and chances for loan approval.
• Age of the Applicant – Your remaining service years are determined by your age. If you are 50 years old, you will most likely not get home loan of 20 years as during the loan period you will retire and therefore will not be able to repay loan.
• Repayment Capacity – Your loan repayment capacity is judged by Fixed Obligation to Income Ratio (FOIR). Ideally, this ratio should not cross the 40%-50% mark. If it is more than the eligible mark, consider paying off the outstanding debt or increase the income by adding a co-applicant.
• Property Features – Before giving out home loan, lenders also evaluate the value and features of your property. The property’s market value and features such as its age, location and title helps in deciding the eligible loan amount. Lenders reject home loan application if the property is too old, disputed or not situated in the bank’s located in the bank’s listed.
• Employer and Profession – Lenders prefer to give out loans to individuals working in established organisations than to individuals working in lesser-known start-ups. Your profession also impacts your home loan eligibility. The home loan eligibility criteria for salaried are slightly more lenient than the eligibility criteria for self employed. This is because salaried individuals have more stable income than the self employed.
• Job or Business Stability – Lenders avoid lending money to individuals who frequently change their jobs or do not have a stable business. Stable business or more years of continuous work experience reflects stable income and timely payment of loan EMIs.