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
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
|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.|