Mortgage and finance

Hirco's reputation in the market place and the assurance we give of good title to your apartment means  that you will find banks willing to lend to well qualified buyers. We have made arrangements with the following leading banks to fulfill your mortgage needs. Click on any of the logos below for more information.

 

 

 

 

 

Documents

The following documents must be completed in order to be considered for a loan.

For Self Employed Applicants

• Application Form
• Admin fee Cheque favouring “ICICI Bank Ltd”.
• Passport size photograph of applicant and co-applicant.
• Copy of Age, Residence and ID proof.
• Office Address Proof Document.
• 12 months current account statement.
• Business Profile.
• Re-payment Track Record of 12 months for any existing loans.
• Latest 3 year Financials including ITR, Computation of Income, P&L Account and Balance Sheet.
• Partnership Deep/MOA/AOA whichever is applicable.
• Share holding pattern and List of Directors attested by C.A.

For Salaried Applicants

• Application Form
• Admin fee Cheque favouring “ICICI Bank Ltd”.Passport size photograph of applicant and co-applicant.
• Copy of Age, Residence and ID proof.
• Last 3-4 Salary Slips.
• 6 months bank account statement showing salary credits.
• Latest Form 16.
• Re-payment Track Record of 12 months for any existing loans.
• Copy of Highest Degree held.

Fees & Charges

What are the charges linked to my home loan?

Administrative Fee of 0.5% of the loan amount for Residential properties and 1.00% of the loan amount for Commercial properties. Note: This is exclusive of Service Tax.

Insurance

Do I need to take property insurance?

Yes. The premium is calculated on the cost of the property & the policy shall be assigned to the respective bank.

How is my mortgage application evaluated?

Your application will be evaluated on the following criteria:

• Your income stream.
• Your employment history and stability.
• Your ability to handle current obligations as well as new ones.
• Your ability and willingness to repay (credit report).
• The value of the property being purchased or refinanced.
• Your assets to assess your ability to meet your down payment.