Mortgage Home Loans - FAQ

  1. How is my Home Loan eligibility determined?

    Your Home Loan eligibility is determined by your repayment capacity, which is determined by the following factors:

    • income, stability of occupation,
    • your and your spouse's qualifications,
    • age,
    • number of dependants,
    • assets or liabilities,
    • history of savings.
  2. What is the maximum amount I can borrow?
    The maximum amount of money one can borrow, also known as 'borrowing capacity', may vary from lender to lender. It's usually 75% to 85% of the asset value.
  3. What are the repayment period options available?
    In most cases, the repayment period may range from 5 to 40 years. The maximum period depends on the chosen repayment plan, your financial capabilities and the bank.
  4. Can a Home Loan be repaid ahead of schedule?
    Yes, your Home Loan can be repaid ahead of schedule, but companies will charge a fee of 1-2% for repaying the loan before the set time period.
  5. What is EMI?
    EMI stands for Equated Monthly Installments and it refers to the fixed monthly payment paid to a company granting the loan. It consists of interest and principal repayment. Its size depends on the amount of a loan, applicable interest rate and the term of a loan.

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