✓ Home Loan from ₹2 Lakhs to ₹15 Crores ✓ Interest Rates Starting @ 8.50% Check Eligibility

As a self-employed individual, you can get up to ₹15 Crores to fund your entrepreneurial dreams and requirements. With the growing trend of self-employment, tailored home loan solutions are offered by various banks and NBFCs.

Eligibility Criteria

To apply for a home loan specifically designed for self-employed individuals, it is necessary to fulfil some basic eligibility criteria. Some of these requirements for home loan eligibility for self-employed borrowers are as follows:

  • Applicants must fall under the age bracket of 25 to 70 years 

  • Lenders may also look at your educational background and qualifications when determining your eligibility for a home loan

  • Number of dependents in your household will be considered, as a lower number of dependents would mean that you have lower monthly expense 

  • Lenders will check your income tax return (ITR) filings to evaluate your income and repayment capacity 

  • Financial profile will be assessed by analysing your current outstanding debts 

  • Lenders will also look at the overall profitability of your venture and the business vintage 

Please note that these criteria are determined by lending institutions. Thus, it may differ from one financial institution to another.

Documents Required

Provided below is the list of documents required for a home loan for self-employed:

  • Identity Proof: Passport/voter ID/Aadhaar card

  • Address Proof: Passport/voter ID/Aadhaar card

  • Income Proof: ITR/PAN card/TAN card/bank account statements

  • Certified financials: P&L statements and balance sheets

How to Apply

Here is how to apply for a home loan for self-employed:

  • Visit the lender's official website

  • Go to the application section and enter your personal and professional information

  • Submit the application for verification

  • Once verified, a loan executive will reach out to you for further proceedings.

How to Apply for home loan


Can I get a home loan if I am self-employed?

Self-employed individuals are eligible to apply for home loans. You will be required to meet certain requirements for home loan eligibility as determined by the lender. This includes your annual income, business vintage, ITR, etc.

Do self-employed individuals get any tax benefits on home loan repayment?

Yes. You can avail of these tax deductions under Sections 80C, 80EE, and 24B of the Income Tax Act, 1961.

Can self-employed borrowers have salaried individuals as co-applicants for a home loan?

Self-employed people can co-apply for a home loan with salaried people. However, both you and your co-applicant(s) must satisfy the eligibility criteria set by the lender.

What factors do lenders consider before approving home loans for self-employed?

The key factors that lenders take into consideration include repayment capacity and income, credit score, age, and educational qualification(s).

What is the maximum home loan repayment tenure that one can opt for?

You can pay off your home loans over tenures ranging up to 40 years. However, the actual tenure offered will depend on your eligibility.

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