You need to approach a Housing Finance Company (HFC) with the latest salary slips and TDS form 16 of the last two financial years of yourself and your co-applicant, if any. The loan officer will then tell you the loan amount you are eligible for and the terms of the same.

You need to submit the application form along with the necessary documents. On receipt of the application form, the HFC reviews it, asks questions wherever necessary and convey its decision to the applicant. You are advised to visit more than one HFC since you are likely to get better terms/ larger loan amount.

Once you have decided to acquire or construct a property, you can apply anytime thereafter, even if the property has not been selected or the construction has not commenced. Besides, loans are also available for home improvements, renovation or extension of your home.

Yes, you can take loan for construction in one city while working in another city. The HFC's generally service this loan after getting details of the plot legally verified.            

It takes around fifteen days for processing of one's application if the documents are in order. It takes another week for the HFC to check out the property papers and make the disbursement.

Home loans are generally provided for in the range of 75%-85% of the asset value. The amount of loan varies from institution to institution and it may vary from Rs.1 lakh to Rs.1 crore. The maximum amount, which one can borrow, is a function of many factors, which includes primarily the purpose of the loan. In addition, ones residential status whether resident in India or non-resident will also have a bearing on the maximum amount of loan that one can borrow. Generally, if one is a resident Indian, then he can borrow upto 85% of the cost of the property.

Repayment period options range generally from 1 to 20 years. A few lenders also offer a 30-year repayment period, usually at a higher interest rate. As a non-resident, you can avail of a loan for a maximum period of 15 years.

 The common documents required at the pre-approval stage are :

 1.Proof of Age.
 2. Copy of Bank A/C statements for the last 6 months.
 3.  Copy of latest credit card statement.
 4. Passport size photograph.
 5.Signature verification from the borrower's banker.

If salaried person: Salary and TDS certificate. Latest pay slip. Letter from employer.

If self-employed person: Business track record. Copy of audited financial statements of the last 2 years.