The scheme is applicable for first home buyers for:

• Purchase of a ready house
• Construction of house
• Purchase of flat – RERA approval is mandatory for flat purchase if the property falls under RERA criteria i.e. exceeding 500 sq.m. of land area or having more than eight apartments.

Salaried:
Salaried individuals either having minimal or no documented income proof, but have verifiable digital banking foot prints are eligible to apply. The total annual income of up to four applicants including husband, wife and unmarried children should not exceed Rs. 6 lakhs.

The borrower should have been employed for at least three years and should have a minimum of two years’ salary credits.

Self-Employed Non-Professionals:
Individuals engaged in small-scale trading enterprises, proprietors managing retail establishments, operators of micro-industries who haven’t submitted Income Tax Returns (ITRs) but have maintained their businesses consistently for a minimum of five consecutive years and possess a stable income stream capable of servicing loan obligations, as evaluated by Can Fin Homes Ltd.,

Property proposed for mortgage to stand in the name of applicant/s.

Property proposed to purchase / construct must be the first housing with a single dwelling unit with maximum carpet area up to 60 sqm.

Max. Loan Amount Rs. 20 Lakhs

Minimum margin – 30%

• Equitable mortgage of the property being financed

11.50% to 12.50% Fixed depending on the risk rating (Repo rate + capped at 7% (Max)), whichever is lower.

*Rate of Interest/ Card Rates reviewed and fixed by the Managing Director from time to time as per extant guidelines.

Maximum term up to 20 years subject to maximum age of 60* years of the eldest borrower whose income is considered for IIR & NTH purpose and maximum age of 85* years of the eldest borrower whose income is not considered for IIR & NTH purpose, whichever is earlier.

* The maximum age limit referred above is the age at the time of loan maturity.