Khush Housing Finance
Home Loan

Most people dream of owning a home or acquiring a bigger home. Often their income prevents them from making it true. The shelter provided by your own home lets you walk around the streets with a sense of pride. However, the absence of funds for a house in ready cash prevents a huge part of our country from owning a house. So opting for a Home Loan is necessary and sensible for many. Using a loan with long tenure, the monthly instalments can be made low and affordable. Thus the need for a huge amount of money in ready cash can be eliminated. Moreover, you get to own the house of your dreams without any compromise on details.

Khush Housing Finance Pvt. Ltd. was found after identifying the needs of the informal segment of the populace. They are trying to extend a helping hand towards the people who are struggling to own a home and deprived of access to Home Loans due to lack of formal income. They provide loans for buying or constructing a new house and even for renovating the existing home. The competitive rates and excellent service records make the Khush Housing Finance a top choice for Home Loans.

You can also Apply for 40 Lakh Home Loan

Since making a huge amount of ready cash has been out of reach for many individuals in our country, the Home Loan is one of the most used forms of loans. With the aid of Home Loans, millions of Indians are fulfilling their dream of owning a home without any compromises on the locations or the features.

At Khush Housing Finance, they offer a long repayment period of up to 15-20 years. The objective of the company to help the weaker communities of society is reflected in the interest rates of Home Loans. More than half of our customers are enjoying the Credit Link Subsidy scheme under Pradhan Mantri Awas Yojana. The borrowers under this scheme are provided with a subsidy on the interest. The eligible customers get up to 2.67 Lakhs subsidy in the total interest. They are committed to helping you get this support from the government. Khush Housing Finance is also ready to provide a customised Home Loan product depending upon your needs.

Here's how Khush Housing Finance is different from others:

• Quick processing: With the excellent customer service provided by the company loans, can be accessed with ease and fast.
• Loan amount: You can get up to 25 Lakhs as the housing loan amount
• Flexible repayment tenure: The repayment can be planned for up to 15/20 years of time depending upon your profile.
• Attractive interest rates: With the aim of supporting the financially weaker sections, the interest rates are kept at very reasonable levels.
• Multipurpose loans: The loan can be availed for house purchase/ construction/ extension/ renovation. You can also apply for a housing loan under Pradhan Mantri Awas Yojana (PMAY) scheme.
• Co-applicants: Spouse, parents or any close relative of the applicant can be a co-applicant. It increases the chances of loan approval since this way the income of your co-applicant is also considered.
• The doorstep service: The company team members will deliver and pick up the documents from your home to ensure maximum convenience.
• Assistance in property identification: The Khush Housing Finance provides assistance in locating the property of your dreams on request.

The interest rates are kept as low as possible in Khush Housing Finances. The exact rates are subjected to market conditions and vary accordingly. To know the ruling interest rate applicants can use the customer care number. The Home Loan interest rate varies for different schemes and different applicants.

Khush Housing Finance offers 3 different types of Home Loans:

• Home Loan: In this scheme, the company assists you by providing a loan for buying a house or flat from a builder of your choice or from an individual seller. The loan amount would be dependent on the value of the property, income and other eligibilities of the borrower. Often a customised Home Loan according to your needs is sanctioned by the company. Funding of up to 25 Lakhs is available in this scheme. The repayment period is maximum 20 years.
• Loan for Construction: This loan is provided to those who are looking to construct the house of their dreams. The ones who own a plot suitable for the construction of a house can avail this loan. If you're planning to take a  plot loan and construct the house, still the loan is available. Loan amount of up to a maximum of 25 Lakhs is sanctioned based on the property value, income and other eligibilities of the borrower.
• Home Renovation: This loan is for those who are wishing to renovate their existing home. This scheme is suitable for repair, painting, structural improvement, waterproofing, upgrading the flooring, tiling, plumbing and electrical works, construction of the compound wall, and so on of the self-occupied house property. Based on the cost of operations and repayment capacity of the borrower, up to 10 Lakhs is provided from Khush Housing Finance.
• PMAY: This Credit-Linked Subsidy Scheme or CLSS under PMAY was announced by the Honourable Prime Minister of India Shri Narendra Modi. The scheme has a vision of providing housing for all by 2022. Khush Housing Finance offers PMAY subsidy under which the interest subsidy is provided on purchase/ construction/ improvement/ extension of the house to customers of Economical Weaker Section/ Lower Income Group/ Middle Income Group. The maximum interest subsidy that can be availed is 2,67,280, depending o the loan amount and scheme type.

Additional Info: Also check AnyRoR Gujarat Land Record

A few Home Loan eligibility criteria are required to be met for the approval and disbursal. Home Loans are often very long thus it demands a steady and secure source of income. Yet, the importance of owning a home is recognised by our company and it has prepared a very short list of criteria.

The maximum loan amount would be based on the assessment of the following:

• Applicant' assessed monthly income
• Fixed monthly commitments of the applicant
• The age of the applicant
• Applicant's educational qualification
• Employment and savings background of the applicant
• The market value of the property being financed
• CIBIL score of the applicant
• Availability of the co-applicant or guarantor

The Khush Housing Finance will provide a maximum loan amount of up to 25 Lakhs. The higher loan amount can be availed not only with the high-value property but also with a high rate of income. The value of the property is affected by various factors such as the location of the property, the total area of the property, number of rooms and available amenities. Despite the type of property, the location of the plot adds important points to the total value of the house. The supply and demand for land changes from place to place, it will directly affect the price of the property. The supply-demand situation of the location will have a great role in defining the value of the house. Likewise, the other elements which influence the value of the property influence the maximum loan amount too.

The following common documents are required to process a loan application:

• Duly filled Home Loan application: It can be downloaded from the website of Khush Housing Finance
• Photo identify proof, such as Aadhaar Card, PAN Card, Voter's ID Card, or Passport
• Address proof, such as Aadhaar Card, Electricity Bill/ Telephone Bill, or Ration Card
• Income proof documents (if available)
• Bank passbook/ statement for the last 2 years
• Power of Attorney (if applicable)
• Details of assets owned
• Loan repayment track record (if any)
• Other relevant documents required for home loan required by the Khush Housing Finance

Since the company is fully concentrated in the housing finance sector, its service is not yet available in the other loan sectors. Although they also provide the Loan Against Property to help you in emergency financial needs.

The Khush Finance Home Loan EMI can be calculated using Home Loan EMI Calculator available for free of cost at MyMoneyMantra. The Khush Finance Home Loan EMI Calculator lets you set the parameters such as loan amount, loan tenure, and interest rate according to your plan. After conducting the calculation, it lets you know how much your EMI is.

To calculate the EMI, follow these steps:

• Visit MyMoneyMantra
• Choose EMI Calculator under Financial Tools
• Enter the required inputs - Loan Amount, Interest Rate, and Tenure
• Click on the Calculate button for instant result

The factors that influence the EMI amount calculation are:

Interest Rate: As your loan amount is higher, the interest rate tends to go down. Similarly, for the lower loan amount, the higher interest rate is applicable (in some cases). The final interest rate would be decided by the company after examining other factors such as CIBIL score and the plan you applied for.

Loan Tenure: Your EMI amount will be lower if you choose to repay it over a large period. The age of the applicant plays a large role in the loan tenure you get approved for. The younger applicants are eligible for longer periods than an older applicant. Khush Housing Finance provides the maximum loan repayment tenure of 20 years.

Loan Amount: The Khush Housing Finance EMI increases with the increase in the loan amount. Thus, apply for an amount that suits your need. Don't go beyond your repayment capacity.

Additional Info: Also check SBI Home Loan EMI Calculator

Home Loans at Khush Housing Finance involve the following charges apart from the interest rate:

The customer can email the complaint/ query regarding housing loan at "customercare@khfl.com". The company assures a response to the complaints received through this channel within 7 working days.

If the complaint is not resolved within 15 days, the complaint can be forwarded to the general manager at the below address:

General Manager,

Khush Housing Finance Pvt. Ltd.,

Head Office: 810- Aura Biplex,

S.V.Road, Borivali (West), Mumbai - 400092

The company has appointed a Central Nodal Officer to take care of all the customer complaints and customer service in the branches. The Nodal Officer can be reached out by telephone on Phone number: 022-28067284 or by email at grievancesredressal@khfl.com.