Vastu Housing Finance Home Construction Loan

Looking for a construction loan that fits your criteria? Vastu Housing Finance Construction Loan is dedicated to helping you realise your dream of homeownership with their Plot + Construction Loan.

Specifically adjusted for those who already possess a plot of land and aim to construct a house, this loan offers a pathway to creating your ideal home, which will provide you with pride and satisfaction.

With financing options of up to ₹1 crore and a flexible Loan-to-Value (LTV) ratio, ranging up to 60% of the land’s market value or 75% of the land price (whichever is lower), you can start your home-building journey with confidence. Repayments are spread comfortably over a maximum tenure of 20 years, ensuring financial ease.

Vastu Housing Finance Construction Loan Interest Rates

Here are the latest interest rates for the Vastu Housing Finance Construction Loan and key details about applying for one.

Vastu Housing Finance Construction Loan Fees and Charges

Now, let’s examine the charges and costs linked with the Vastu Housing Finance Construction Loan.

Vastu Housing Finance Construction Loan Eligibility Criteria for Salaried and Self-Employed Applicants

The requirements for salaried individuals seeking Vastu Housing Finance Construction Loans are outlined as follows:

• Age Requirement –At least 23 years old at the time of application. The upper age limit is 67 years old, giving borrowers a sufficient timeframe to repay their loan.
• Minimum Income – Minimum annual income of 10 lakhs. 
• Creditworthiness: An adequate credit score is necessary to ensure the seamless processing of the loan.

Vastu Housing Finance Construction Loan Documents Required for Salaried and Self-Employed  Applicants

The following are documents required to avail of a Vastu Housing Finance Construction Loan:

• Identification: Aadhar card, Passports, Voter IDs, or any other government-issued ID.
• Proof of Address: Utility bills, rental agreements, or any official document
• Income Verification: Recent pay stubs, Form 16, and bank records reflecting salary credits indicate income.
• Employment Confirmation: A letter from your employer confirming your job position and income is proof of employment.
• Bank Statements: Provide the most recent six months’ bank statements.
• Property Documentation: Copies of the selling contract, title deed, and any required NOCs (No Objection Certificates) are necessary.
• Passport-sized Photographs: Include current passport-sized photos.
• Processing Fee: If applicable, include a check for the processing charge.

Features of Vastu Housing Finance Construction Loans

Let us take a look at the features of Vastu Housing Finance Construction Loan:

• Plot + Construction Loan: This loan integrates land acquisition and construction financing into a unified package.
• Flexible Loan Amount: You can borrow up to ₹1 crore, contingent upon your eligibility and the land’s value.
• Loan-to-Value (LTV) Ratio: Vastu HFC offers an LTV ratio of up to 60% of the land’s market value or 75% of the land price, whichever is lower.
• Flexible Repayment Tenure: You can select a repayment duration of up to 20 years. Longer tenures facilitate comfortable EMIs and enhanced financial planning.
• Interest Rates: Vastu Housing Finance provides competitive floating interest rates, commencing at 12.50% p.a. for salaried individuals and 13% p.a. for self-employed applicants. Market fluctuations can influence these rates.
• Eligibility Criteria: Applicants must be at least 23 years old and have a minimum annual income of ₹10 lakhs. Additionally, factors such as work experience and creditworthiness are evaluated.
• Fees and Charges: Various fees, such as processing and administrative fees, are applicable.