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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  • How much you require? You may get below 8 L
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  • 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.
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