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Make space for what matters – Home Extension Loan that fits your plan.
Imagine expanding your home to create more space for the things that matter: a cosy new bedroom, a functional study, or a larger living area for family gatherings. With our Home Extension Loan, turning your current home into the space you need is within reach. At DMI Housing Finance, we offer this home renovation loan to help you expand your home easily. It offers flexible tenure of up to 30 years with affordable interest rates starting from 9.5% p.a, and the available loan amount is up to Rs.75 lakh. This loan is designed to make your home extension affordable and stress-free so you can focus on creating a space that feels just right for you and your loved ones.
We believe everyone deserves the opportunity to expand and improve their home, regardless of their profession or financial background. That’s why we have crafted flexible eligibility criteria to support various personal needs, making it simpler for you to turn your home extension plans into reality.
Age: 21 to 65 years
Eligible Employment Types: Private, Government, MNC, and contractual employees
Minimum Monthly Income: Rs. 10,000
Loan Tenure: Up to 30 years
Age: 21 to 65 years
Loan Amount: Up to Rs. 15 lakh
Minimum Monthly Income: Rs. 10,000 onwards
Loan Tenure: Up to 30 years
Age: 21 to 75 years
Eligible Applicants: Business professionals and non-professional individuals file ITR.
Minimum Monthly Income: Rs. 10,000
Loan Tenure: Up to 30 years
Eligibility Based On: GST Turnover
Age: 21 to 75 years
Eligible Applicants: Business professionals and non-professionals do not file ITR.
Minimum Monthly Income: Rs. 10,000
Loan Tenure: Up to 30 years
Eligibility Based On: Banking churning and average daily bank balance
Get all the answers to your top Home Extension Loans FAQs with DMI Housing Finance
Yes, DMI Housing Finance provides a Home Extension Loan to enlarge the space of your existing house to meet your needs, like adding a room or even a floor. We offer this loan at competitive interest rates for up to 30 years.
Yes, a home extension loan is eligible for tax exemption. You can claim up to Rs.1.5 lakh for an annual tax deduction under section 80(C). Additionally, Rs.2 lakh can be claimed under section 24(b) for home loan interest payment if the home is self-occupied. There is no limit for deduction if it is a let-out property.
The maximum loan amount depends on your income, repayment capacity, property value, and the lender’s policies. At DMI Housing Finance, you can avail yourself of a home extension loan of up to Rs. 75 lakh.
No, it is not essential, but having a good credit score is important when taking out any loan. A higher credit score increases your loan approval chances and can help secure better interest rates.
If you apply digitally with all the required documents and details, your home extension loan application will be approved in 1 working day at DMI Housing Finance. Our team strives to process loans as quickly as possible for your convenience.
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