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Home loan

Last updated: June 2 2010
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  • Home loan

    Hello friend,

    I want to purchase a new flat (Resale) one, So for that purpose i want to avail a home loan. As i am salaried person my monthly income is 20K and my brother income is 10K so how much home loan i can avail for which bank (Fixed or Floating) Can I club my income with my brother income to get a loan of 15L. Please provide ur suggestion my age is 27 and i don't have any credit record.

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  • #2

    #2

    Re : Home loan

    Yes..

    Hi Mohd, yes you can take a loan upto 15 lakh. you and your brother can take the joint loan. Normally your EMI is the 50% take home of your monthly income. So in your case it will be 15 K. so yes you can take the loan of 15 lakh but minimum years of loan will be around 15 years. just confirm with your local banker. All the best.

    Originally posted by Mohd27 View Post
    Hello friend,

    I want to purchase a new flat (Resale) one, So for that purpose i want to avail a home loan. As i am salaried person my monthly income is 20K and my brother income is 10K so how much home loan i can avail for which bank (Fixed or Floating) Can I club my income with my brother income to get a loan of 15L. Please provide ur suggestion my age is 27 and i don't have any credit record.

    Reply in brief

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