Can Fin Homes Limited (CFHL) is a housing finance company sponsored by Canara Bank, a public sector bank. CFHL has a nation-wide network of 35 branches and 40 outreach centres in India. Since 1987, it has helped more than 1 lakh families to own a home. The quantum of loan disbursed by CFHL is 85 per cent of the project cost, subject to repaying capacity assessed on the basis of age, qualification, work experience, nature of occupation and income (NRI source only).

To avail of a home loan, one needs to submit along with the application form, the details of the property and proof of income (NRI source only). NRIs can be represented by their resident attorneys who may be their relatives.

Details that need to be submitted (personal documents):

* Employment contract. (If the contract is in a language other than English, the same has to be translated into English and attested by either the Employer or Embassy).
* Latest salary slips or certificates for the past six months.
* Identity card issued by the current employer
* Continous Discharge Certificate (for applicants employed in the merchant navy)
* Latest work permit
* Visa stamped on the passport
* NRE bank account pass sheets
* Overseas Bank Account Statement for the last six months
* Bio-data covering eductional qualitifications, age, job experience, nature of profession or business, etc, with necessary proof.
* Power of Attorney in favour of local reprsentative in India, if required

Property Documents
* Original title deeds tracing the title of the property for a minimum period of the last 13 years.
* Encumbrance Cerficate for the last 13 years
* Agreement of sales or construction, if any
* Approved plan or licence
* ULC cleareance or conversion order
* Latest tax paid receipt
* Receipts for having invested the margin money through normal banking channels from the Non Resident (External) account in India and or the Non Resident (Ordinary) account in India.

Processing and Administrative Fee

A one time, up front fee of 2 per cent of the loan amount applied for is to paid with the application as Processing and Administrative Fee.

`` CFHL is the only housing finance agency in the country which does not levy a service charge and doles a home loan at a fixed interest of only 12.75 per cent. The repayment period is over 5 to 7 years and maximum period is 15 years. You can choose the repayment period convenient to you. In easy montly instalments, called Equated Monthly Instalments, comprising both principal and interest (through approved banking channel). Prepayment of loan ahead of schedule is a special feature of this home loan scheme offered by CFHL. Home loans are for construction or purchase of a house or flat, extension or renovation or repair of a house or acquisition of plot and construction thereof . CFHL, offers special housing loan schemes for NRIs. Housing loans to NRIs are subject to Reserve Bank of India (RBI) or National Housing Bank guidelines and policy of CFHL in force from time to time. A NRI with a regular income and holding an Indian passport, can avail of the home loan. Persons of Indian origin holding a passport issued outside India needs permission from RBI to acquire real estate in India,'' said Rajiv Raj, CFHL Manager.

Address:

Contact: Can Fin Homes Limited, Hotel Kohinoor Park, 3rd floor, Veer Savarkar Road, Opposite Siddhi Vinayak Temple, Prabhadevi, Mumbai - 400 025.

Telephone Number: 430 2540 / 436 2604 / 437 4643.

Fax: 436 63245.

E-mail: cfhlva@pop3.gtsl.co.in

Navi Mumbai :

Contact: Can Fin Homes Limited, 227, Arenja Corner, 2 nd Floor, Sector 17, Vashi, Navi Mumbai- 400 703.

Telephone Number: 789 4388, 789 2261

Fax: 022 - 4362645

E-mail: cfhlva@pop3.gfsl.co.in

Website : www.canfinhomes.com

Thane
Contact: Can Fin Homes Ltd, 2nd floor,
above Hotel Alok, 130 Gokhale Road,
Naupada, Thane (West)- 400 602.
Telephone Number: 540 6016

By :Mani D'Mello

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