🏠 Srikara Financial Services

Home Loans — All Types & Guidance

Solutions for purchase, construction, plot+construction, balance transfer, top-up, renovation, and NRI home loans. We structure documentation, compare lenders, and coordinate each stage with clarity.

Required Documents

CategoryDocuments
KYCPAN, Aadhaar / Passport
Income — SalariedLast 3 Salary Slips, Form 16, 6 months bank statements
Income — Self-employedITR (2 yrs), Financials, GST returns, 6–12 months bank statements
PropertyAgreement/Sale deed, Tax receipts, EC, Approved plan, NOC (as applicable)
OtherExisting loan statements, credit card statements (if any)

Note: Lenders may request additional documents per policy.

Approach

Srikara Financial Services enables families, professionals, and NRIs to evaluate bank/NBFC options with transparent comparisons, structured documentation, and coordinated sanction & disbursal — with a digital-first experience from Hyderabad and Warangal.

FAQs — Home Loans

1) What are typical home loan tenures?+
Tenures range from 5 to 30 years depending on policy and eligibility.
2) Fixed vs floating interest — which to choose?+
Floating varies with benchmark rates; fixed stays constant for a period. Choice depends on risk comfort and market view.
3) What is LTV (Loan to Value)?+
LTV is the loan amount as a % of property value. Typical caps are 75–90% based on ticket size and regulations.
4) Can I combine Balance Transfer with a Top-up?+
Yes, many lenders allow BT + Top-up subject to eligibility and property valuation.
5) How is EMI affected if interest rates change?+
For floating loans, either EMI increases or tenure extends as per lender terms.
6) Who can be a co-applicant?+
Immediate family members are usually allowed; policies vary across lenders.
7) What’s the role of credit score?+
Higher scores (typically 700+) strengthen approval chances and pricing.
8) Are prepayments allowed?+
Prepayment/foreclosure terms depend on fixed/floating type and lender policy.
9) Can NRIs obtain home loans?+
Yes. NRIs/OCIs can apply with passport/visa/OCI, overseas income proofs, and POA where required.
10) What property checks are performed?+
Title, encumbrance, approvals, and valuation are reviewed as per lender policy.
11) What income proofs are needed for self-employed?+
ITRs, financial statements, GST returns, and bank statements are common.
12) How long does sanction take?+
With complete documentation, initial sanction can arrive in a few working days.
13) What is margin money?+
The portion paid by the borrower beyond the loan amount (down payment + costs).
14) Are insurance products mandatory?+
Property insurance is common; life cover is optional but often suggested.
15) Can I switch lenders later?+
Yes, via Balance Transfer, considering charges and benefits.
16) What are typical charges besides ROI?+
Processing fees, legal/valuation, stamping, and administrative charges may apply.
17) What is a provisional interest certificate?+
A statement issued yearly showing interest/principal breakup for tax use.
18) Do under-construction properties have special terms?+
Yes, including stage-wise disbursal and possible pre-EMIs.
19) What is top-up eligibility?+
Based on repayment track, updated income, and property valuation.
20) How do I begin?+
Use the menu to reach Contact or Upload Docs, and share basic details to proceed.