Established in 1984, Dewan Housing Finance Corporation Limited (DHFL) is the second largest housing finance company in the private sector in India. Over the years, DHFL has built up a considerable business portfolio with products such as Home loan, Home extension loan, Home improvement loan, Plot loan, Mortgage Loan Leased Rental Finance and Aashray deposit. DHFL Home Loans are offered to individuals, co-operative societies, corporate bodies and associations of persons. The maximum loan offered by DHFL can go up to Rs 1 crore and the home loan finances up to 85% maximum of the cost of the property. In the following lines, we have provided in detail analyses of DHFL's home loan.

Determining Factors For Loan Amount

* Repayment capacity
* Age
* Educational qualifications
* Stability and continuity of income
* Number of dependents
* Co-applicant's income
* Assets
* Liabilities
* Saving habits

Types Of DHFL Home Loans

* DHFL's Home Improvement Loans are offered to individuals to facilitate renovation and repairing of homes. The tenure of the loan ranges from 1 to 10 years.
* DHFL's Home Extension Loans are offered to individuals, who want to extend the existing accommodation by adding a room/bathroom/kitchen/prayer room. The tenure of the loan ranges from 1 to 20 years.
* NRI Home Loans are offered to Non Resident Indians (NRIs), who wish to purchase, construct, improve or extend their home. The tenure of the loan ranges from 1 to 15 years.
* DHFL's Mortgage Loans are for professionally qualified individuals, who are salaried or self employed. It is given against the mortgage of their residential property. The tenure of the loan ranges from 1 to 7 years.
* DHFL's Non Residential Property Loans (NRPL) is aimed at professionals such as doctors, chartered accountants, architects and solicitors among others. The loans would help them either buy or construct a property to operate their lines of business. The tenure of the loan ranges from 1 to 10 years.

Common Factors In All Home Loans

* The maximum loan offered by DHFL can go up to Rs 1 crore, but not exceeding 85% of the cost of the extension.
* The term however does not extend beyond the retirement age or 60 years whichever is earlier (65 years for the self employed individuals).
* Prepayment of the loan partly or fully, is permitted subject to payment of nominal fees / charges, as stipulated by DHFL.

Samarth (Home Loan For Self Employed)
This is a special type of home loan initiated by DHFL, especially for the self employed. One of the most ignored housing finance communities, self employed are a generally rejected lot, as they have variable monthly income (some months with no income at all) and even if they have the money, they do not have the necessary documentation to prove the same. As such, DHFL has pioneered a process, which facilitates the assessment of income through an independent source, other than the income tax authority.

Eligibility Criteria

* The self employed person should be more than 18 years and less than 65 years of age.
* The applicant is self employed /trader or engaged in service industry.
* The applicant should have been in the same line of business for a minimum period of 5 years or should have inherited the business from parents.
* The applicant should be able to contribute at least 40% of the total sum required.
* Sales Tax Registration or any other registration of business required by statutory authorities / local laws is mandatory.
* The business premises should be owned / inherited.
* Business premises should not be on encroachment land without title to property or deviated in construction from approved plans.