Hassle-Free Home Loans for Non-Salaried


Bangalore: Home prices may have been on an upward direction for many years, but the cost of owning a house in India remains near the most affordable level over the last three decades, shown in a data compiled by mortgage giant HDFC.

The average price of a home, purchased with a housing loan, rose to over 45 lakh in the 2012-13 fiscal year, whereas it was 25 lakh in the year 2008-09, HDFC has said in a presentation.

However, where there is a general idea that it’s always easy for salaried professionals to get a home loan, there are also ways through which non-salaried too can get hassle-free home loans, reports Economic Times.

1. Documentation

 Generally every person applying for a home loan has to fill up the documentation that involves the KYC (Know Your Customer) norms. Other than this another important documentation is to provide the income proof. For salaried professionals presenting a salary slip and Form 16 document submitted to the I-T department are enough. While for self-employed professionals few alternative documents needs to be submitted.

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