Overview of Home Loan in Mahendragarh
Home loans in Mahendragarh enable residents to purchase or construct their dream homes, catering to the district’s growing urban and rural housing needs. In 2025, these loans start at 8.5% p.a., offering up to ₹75 lakh with tenures up to 30 years. Lenders like SBI, HDFC Bank, and ICICI Bank provide home loans in Mahendragarh, supported by schemes like PMAY for affordable housing. With a population of ~921,680 and a literacy rate of 78.90%, Mahendragarh’s residents, including educators and small business owners, can leverage Loanpao’s platform for online applications, lender comparisons, and EMI calculators to secure affordable financing.
Eligibility Criteria for Home Loan in Mahendragarh
| Criteria | Details |
|---|---|
| Applicant Type | Salaried individuals, self-employed, or professionals |
| Age | 21–70 years (at loan maturity) |
| Income | Minimum ₹25,000/month (salaried) or ₹3 lakh annual income (self-employed) |
| Residence | Resident of Mahendragarh or nearby areas |
| Credit Score | 750+ preferred for better rates |
Documents Required for Home Loan in Mahendragarh
- Identity Proof: Aadhaar, PAN Card, or Voter ID.
- Address Proof: Utility bill, Aadhaar, or rental agreement for Mahendragarh address.
- Income Proof: Salary slips (6 months) and Form 16 for salaried; ITR (2 years) for self-employed.
- Property Documents: Sale agreement, title deed, approved plan, and NOC from builder/society.
- Bank Statement: Last 6 months with e-KYC verification.
- Photograph: Recent passport-size photo (digital upload).
Benefits of Home Loan in Mahendragarh
- Low interest rates starting at 8.5% p.a. in 2025.
- Loan amounts up to ₹75 lakh for home purchase or construction.
- Long repayment tenures up to 30 years for affordable EMIs.
- Tax benefits under Section 24 and 80C of the Income Tax Act.
- PMAY subsidies for eligible applicants in Mahendragarh.
Factors Affecting Home Loan in Mahendragarh
Interest Rate
Rates range from 8.5% to 10.5% p.a., based on credit score, income, and loan-to-value (LTV) ratio.
Loan Amount
Up to ₹75 lakh, depending on income, property value, and repayment capacity.
Credit Score
A score of 750+ secures lower rates; scores below 650 may increase rates or reduce loan amounts.
Property Type
Approved residential properties in Mahendragarh (urban or rural) qualify; unapproved properties may face restrictions.
How to Apply for a Home Loan in Mahendragarh
Follow these steps to apply for a home loan in Mahendragarh through Loanpao:
- Visit loanpao.in and select "Home Loan in Mahendragarh."
- Fill out the online application with personal, income, and property details (name, Mahendragarh address, income source).
- Upload required documents (Aadhaar, PAN, income proof, property papers).
- Compare offers from lenders like SBI, HDFC Bank, and ICICI Bank in Mahendragarh.
- Receive approval and funds within 7–10 days after property verification.
Loan Eligibility for Home Loan in Mahendragarh
Check your eligibility for a home loan in Mahendragarh with Loanpao’s tool:
- Enter personal details (age, Mahendragarh address).
- Provide income details (salary or business income).
- Submit credit score or allow e-KYC verification.
- Specify loan amount and property details (e.g., purchase, construction).
Loanpao will evaluate your eligibility and recommend the best home loan offers in Mahendragarh.
Check Eligibility NowTrack Your Home Loan Application in Mahendragarh
Loanpao offers a seamless tracker for your home loan application:
- Enter your application ID on the Loanpao Tracker page.
- Receive real-time updates on status (e.g., under review, property verification, approved).
- Get notifications for fund disbursal in Mahendragarh.
- Contact Loanpao support for assistance with delays in Mahendragarh.
Home Loan Comparison in Mahendragarh
Compare home loan offers from top lenders in Mahendragarh:
| Lender | Interest Rate | Loan Amount | Tenure | Processing Fee |
|---|---|---|---|---|
| SBI | 8.5% p.a. | Up to ₹75 lakh | Up to 30 years | 0.35% of loan amount |
| HDFC Bank | 8.75% p.a. | Up to ₹50 lakh | Up to 25 years | Up to 0.5% of loan amount |
| ICICI Bank | 8.9% p.a. | Up to ₹60 lakh | Up to 20 years | 0.5% of loan amount |
Frequently Asked Questions
Home loans can be used for purchasing a new home, constructing a house, or renovating an existing property in Mahendragarh.
Home loan approvals typically take 7–10 days in Mahendragarh, including property verification.
Loan amounts can go up to ₹75 lakh, based on income, property value, and credit profile.
Yes, eligible applicants in Mahendragarh can avail PMAY subsidies for affordable housing.
Yes, but a credit score below 650 may result in higher interest rates or lower loan amounts.
Yes, home loans are available for approved rural properties in Mahendragarh’s 963.70 km² rural area, subject to lender verification.