Am i eligible for home loan? - Indian Real Estate Forum

manpreet · 25-01-07

I have all documents to give for a home loan except IT returns and Form 16. Am i eligible for a home loan? I am getting Rs 12000/- as monthly net income..Wats the requirement of a home loan ie documents...and which is good EMI monthly or yearly then floating or fixed interest rates will be a good decision?

aryam · 20-10-09

How much you require? You may get below 8 L

realtor · 28-10-09

Quote:

Originally Posted by manpreet

I have all documents to give for a home loan except IT returns and Form 16. Am i eligible for a home loan? I am getting Rs 12000/- as monthly net income..Wats the requirement of a home loan ie documents...and which is good EMI monthly or yearly then floating or fixed interest rates will be a good decision?

Home Loan depends on many factors. Your credit history, your current take home, any other loan, any other liability such as Insurance etc. I suggest you visit any bank and check with them.
Normally if you monthly income is less than 40k, you can get upto 30% of your monthly take home salary as your home loan EMI and if you salary is above 40, you can get upto 40-45% provided if you do not have any other loan.

25-01-07	#1
manpreet New Member Join Date: Oct 2006 Posts: 29 Thanks: 0 Thanked 0 Times in 0 Posts Rep Power: 1	Am i eligible for home loan? I have all documents to give for a home loan except IT returns and Form 16. Am i eligible for a home loan? I am getting Rs 12000/- as monthly net income..Wats the requirement of a home loan ie documents...and which is good EMI monthly or yearly then floating or fixed interest rates will be a good decision?

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20-10-09	#2
aryam New Member Join Date: Oct 2009 Posts: 4 Thanks: 0 Thanked 0 Times in 0 Posts Rep Power: 0	How much you require? You may get below 8 L