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First Purchase From Builder Loan

First Purchase From Builder Loan by Muthoot FinCorp

It is an exciting moment when you look at the drawings of how a future home will look. The architectural design will show you the different rooms of the home. Use the First Purchase Loan From Builder to construct a clear picture in your head of how you can live-in and decorate your space.

Benefits and Features of First Purchase from Builder Loan from Muthoot FinCorp

Take a home loan towards purchasing a flat from a builder or purchase a home from a Housing Board or Development Authority. You may be purchasing a fresh property for the first time to become a homeowner or the second time to upgrade your living standards. At Muthoot FinCorp, we have designed a home loan product that helps you make your dream of owning a new home an instant reality.

Efficient Processes & Quick Approvals

We have designed very efficient loan application and approval processes to help you get the loan quickly. ... read more Our flexible repayment schedules with tenures of up to 20 years make it easy to repay the principal amount and interest. Use our home loan calculator to choose an EMI schedule suiting your needs.

Differential Loan Amounts

The Muthoot FinCorp loan offers loan amounts ranging from Rs 3-25 lakhs. The maximum loan to value ratio ... read more for which you can get a loan is 80% of the value of the flat or house you are purchasing. Check with your nearest Muthoot branch for more details.

Tax Benefits on Your Loan

You can claim deduction of up to Rs. 2,00,000 from your gross income if the amount is for the interest on home loan ... read more , under Section 24(b) of the Income Tax Act, 1961. The principal deductible amount is up to Rs 1,50,000 under Section 80 (CCE) and 80C. A home loan helps you save on tax and own the dream home!

Home Loan

Eligibility Criteria

Our broad eligibility criteria make loans to purchase a builder flat or house accessible. Meet the below mentioned requirements to get a loan and become the proud owner of a new home.

  • Minimum age at the time of application should be 21 years
  • Maximum age at the time of loan maturity should be 65 years
  • The applicant should either be salaried or self-employed
  • The applicant must own a bank account
  • There should be a Muthoot Blue branch in the borrower’s city
  • The co-owner of the property should be the co-applicant for the finance

Documents needed for First Purchase From Builder Loan

There is no lengthy documentation process when you apply for a home loan with Muthoot FinCorp. Put together the documents mentioned below for quicker loan approval and disbursement.

Muthoot FinCorp is bound by and follows the KYC forms as per the regulator’s guidelines.

Address Proof (Any one of the document)

  • Passport / Ration card / Voter ID / Driving License / Registered Rental Agreement / Electricity or Landline bill issued within the previous 3 months

Identity Proof (Any one of the document)

  • Driving License/Voters ID Card, Passport/Ration Card/Driving License / Photo Credit Card / PAN Card / Employee ID card for Government servants

Contract with the builder

  • of the Housing Board for sale of the property

For Self-employed

  • Bank statement stating transactions for the previous three months

For Salaried Persons

  • three months’ salary slips with ITR or Form 16 for salaried applicants seeking housing loan in India

Whether you are looking for a loan to purchase a flat from a builder or a house from a Housing Board, you can contact our customer care representatives at 1800 102 16161 for more details.

How to Apply for First Purchase From Builder Loan from Muthoot FinCorp

With a commitment towards your convenience, we are happy to offer you easy loan application and approval procedures. Choose any one of the following ways to apply for a home loan:

  • Call

    You can call our toll-free number 1800 102 1616 and talk to our customer care executive for details to get started

  • Visit the nearest Muthoot FinCorp Branch

    You can visit the nearest Muthoot FinCorp branch and our customer care executives will help you through the process.

Once your share all documents with us, they are scrutinised. We also quickly check eligibility criteria to expedite the approval and disbursement process. We are here to help you own the home you want to live in.

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Why Choose Muthoot Blue for A First Purchase From Builder Loan?

Muthoot Blue (Muthoot Pappachan Group) has a reputation that has been shaped over decades with high-quality practices, total customer satisfaction, and steady growth. Today, Muthoot FinCorp, our flagship company, is one of the largest NBFCs in India and we continue to work with the aim of providing timely credit to the common man with Blue Soch. Hence, our first purchase from Builder loan services are designed to help you get the loan amount easily and with minimum hassles.

You can trust Muthoot Blue because:

  • We have over 4200 branches across India. Visit your nearest Muthoot Blue branch to get a loan quickly and without any hassle.
  • Nearly 1,00,000 customers walk into our branches daily and are assured of trustworthy and simple services.
  • Our customer-centric approach and innovation over the past 133+ years without compromising on the God-given values of trust, truth, transparency and tradition is what helps us in empowering the human ambitions.
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