How To know About Your Property Loan Eligibility?

Loan eligibility :- The home loan amount sanctioned is a function of various parameters such as monthly income,  rate of interest, property value, etc. One needs to check the eligibility for the loan amount with the lending institutions bank or Housing Finance .  At least 20 per cent of the property value has to be put up by the borrower as equity/margin. Banks and HFCs provide home loan upto a maximum of 80 per cent of the value of the property.  The final loan amount sanctioned depends on the credit policy of the lending institution. Normally, lending institutions finance upto 75-80 per cent of the market value of the property. Within definitive parameters, 50 per cent of your income is considered towards repayment through EMI.

Gram Panchayat approved plots
Construction loan on detached area property
Second home loan 

Selling under-construction property with pending loan, the following options are available to buyer and seller for mortgaged property.
   
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