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IREF® - Indian Real Estate Forum > Real Estate Open House > Home Loans in India > Will I get Home Loan if my salaries don't come in time
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Old July 5 2012, 02:53 PM   #1
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Icon18 Will I get Home Loan if my salaries don't come in time

Hi
I have just booked a house, and am applying for Home loan now. All my documentation is ready, but the thing that bothers me is that my salaries are given late. And as the market has slowed down, I have not got my salary from May. But this situation is for short time, and my company is recovering up fast and we foresee that from end of Q2 we will be back in good position, and then salaries would be disbursed on time.
I'll be applying for loan with my wife as co-applicant, who is also a salaried professional and gets her salaries on time.
Will this factor in anywhere for my loan sanctioning. I'm planning to go for LIC Housing Finance as it has financed the project where I have bought the house.
I had a chat with HDFC agent, he said that he can get the loan approved but that will cost be 15k more in fees.
Please advice on this; will Banks approve my loan application, and which bank should I go to.
Thanks in advance.
 
Old July 9 2012, 12:02 PM   #2
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Hello Forum Members.. Can someone help me with this query? Thanks :-)
 
Old July 10 2012, 01:57 AM   #3
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Everything depends on a justification.

At least get a letter from employer stating the reason of it and submit that to bank. Bank will consider.
 
Old December 4 2014, 10:25 AM   #4
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Banks will think twice for such loan disbursements.
With NPAS in housing loans increasing,banks will be extra cautious.
 
Old December 4 2014, 11:10 AM   #5
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If you're not getting your salary on time now, how can you gurantee it will improve in future?

Could you make these payments if you loose your job?

Please drop the idea of buying a house right now. Reevaluate after a few years.

Sent from my GT-N7100 using Indian Real Estate Forum mobile app
 
Old December 4 2014, 01:59 PM   #6
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Quote:
Originally Posted by maverick81 View Post
Hi
I have just booked a house, and am applying for Home loan now. All my documentation is ready, but the thing that bothers me is that my salaries are given late. And as the market has slowed down, I have not got my salary from May. But this situation is for short time, and my company is recovering up fast and we foresee that from end of Q2 we will be back in good position, and then salaries would be disbursed on time.
I'll be applying for loan with my wife as co-applicant, who is also a salaried professional and gets her salaries on time.
Will this factor in anywhere for my loan sanctioning. I'm planning to go for LIC Housing Finance as it has financed the project where I have bought the house.
I had a chat with HDFC agent, he said that he can get the loan approved but that will cost be 15k more in fees.
Please advice on this; will Banks approve my loan application, and which bank should I go to.
Thanks in advance.
Banks are dumb they look at form 16 and IT return along with 3 months salary slip
So as long as you have last 3 years of form 16 and have filed it returns do not even talk about your salary coming late.
Rohit
 
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