1. How is my Home Loan eligibility determined?

    Your Home Loan eligibility depends on a number of interconnected factors. The following aspects come into play:

    • repayment capacity,
    • income and expenditures,
    • occupation,
    • credit history,
    • cost of the property to be purchased,
    • assets or liabilities.
  2. What is the maximum amount I can borrow?
    The maximum amount of money one can borrow, also referred to as borrowing capacity, varies substantially depending on the lender. The amount ranges from 75% to 85% of the asset value.
  3. What are the repayment period options available?
    In most cases, the repayment period ranges from 5 to 40 years, depending on the specific terms and conditions as well as your repayment capacity.
  4. Can a loan be repaid ahead of schedule?
    If your financial situation allows you to pay off the loan before the term agreed upon, it is possible. However, most lenders will charge an additional fee of 1-2%.
  5. What is EMI?
    The abbreviation EMI stands for Equated Monthly Installments which refers to the fixed periodic payments made on behalf of the lender. The payment depends on the amount of the loan, the interest rate and the term of the loan. EMI is used to pay off both the interest and the principal amount.

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