Mortgage Home Loans - FAQ

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.

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.

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.

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.

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.