Tag Archives: Orange City Housing Finance

Orange City Housing Finance – Home Loan Eligibility, Interest Rate, EMI Calculator

Orange City Housing Finance – Apply & Get Quick Loan Process from Orange Housing Finance.Check Home Loan Eligibility, Interest Rate, EMI Calculator, Documents Required & Processing Fee. 

Orange City Housing Finance – Get Instant Home Loan Quotes Online

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Disclaimer: We do not provide Home Loans but help you to connect with banks to get best deals.
All loans are on sole discretion on the respective banks

Orange City Housing Finance Limited (OCHFL) is a housing finance company based in Nagpur registered under companies act 1956. They bring together a great understanding of the local market, corporate experience and global reach. The company aims at providing home loan to every individual whether self – employed or salaried.

OCHFL provides affordable housing loans to all the sections of the society for various purpose such as :-
Loan for new home
Loan for resale property
Home improvement loan
Home extension loan

Features, Benefits, Eligibility & Other Related Information

  • The tenure of the home loan ranges from 1 to 20 years.
  • The term of the loan shall not extend beyond 75 years of age of the applicant.
  • Fixed Prime Lending Rate (FPLR) – 15%. Applicable ROI: FPLR-1% i.e 14% 

Maximum loan amount that can be availed is given below :-

  • You can avail a Home Improvement Loan from ₹ 1,00,000 – ₹ 50, 00,000 but not exceeding the 75% of the value of property and not exceeding 80% of the cost of improvement for loan up to Rs. 20 lacs & not exceeding 75% of cost of improvement for loan more than Rs. 20 lacs.
  • For the Purchase of a new house, Home Loan of up to ₹ 90, 00,000 will be sanctioned but not exceeding 80% of the cost of property.
  • For Resale of the property, Home Loan of up to ₹ 90,00,000 will be sanctioned but not exceeding 80% of Market Value of Property & 100% cost of property.
  • You can avail a Home Extension Loan of up to ₹ 90,00,000 but not exceeding the 50% of the Market Value of property and not exceeding 80% of the cost of extension.

*Other factors will also affect the loan amount like Repayment capacity, Educational qualifications, Stability and continuity of income, Number of dependent, Co-applicant’s income, Assets & Liabilities, Saving habits etc.

  • Security of the loan is the first mortgage of the property to be financed.

One can take advantage of the exclusive ‘Regressive Payment Scheme’ , if one is a home loan seeker due for retirement within the term of the loan and have applied jointly with an eligible One Younger co-applicant.

Home Loan for Self – Employed

  • Age limit : 18 – 75 years of age.
  • Self Employed / Trader or service industry employee can avail the home loan from OCHFL.
  • The occupation tenure should be a minimum of 1 year or a he/she should be an inherited business person.
  • Loan will be provided on a maximum of 80% of the cost of property i.e 20% shall be contributed by the borrower.

Orange City Housing Finance – Home Loan EMI Calculator

Loan Amount
Interest Rate (Reducing) % Per Annum
Loan Tenure (in Months)
 
Monthly EMI
Total Amount with Interest
Flat Interest Rate PA
Flat Interest Rate PM
Total Interest Amount
Yearly Interest Amount

Document Required

DOCUMENTS REQUIRED
KYC for applicant, co – applicant & Guarantor Property Documents
PAN card Sales deed / agreement of sale
ID (passport, Voter ID, Adhaar card) & Residence Proof (Utility Bill) Aakhiv patrika from city survey
passport sized photograph Latest corporation tax receipt
1 year bank statement Building permit & Sanction map
latest salary or income certificate Title verification report
Income tax assessment order for last 3 year Valuation report (for ready possession) or Estimate report (for under construction)
NOC & Affidavit regarding Non – Encumbrance
Col laterals in form of FD, Listed ‘A’ Shares, PPF, Life Insurance Policy & immovable property
OTHER DOCUMENTS REQUIRED
For Employed applicants For self employed / co – applicants & Guarators
Verification of Employment form with only Part I Filled in MOA / AOA / Partnership deed / Proprietor / Registration certificate giving information on the nature of your business/profession, form of organisation, clients, suppliers, etc.
A letter from your employer agreeing to deduct EMI for loan repayment from your salary / ECS clearing Last 3 years Balance sheets & Profit loss Accounts.