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Since the LTV is 90% of ₹ 16 lac i.e. ₹ 14.4 lac, you can get only ₹ 14.4 lac (not ₹ 17,09,806) as the final home loan amount whose EMI comes to ₹ 13,86 per month. Here taking a salary as ₹ 25k, & without any fixed monthly obligation, you can pay a maximum of ₹ 12,500 as EMI considering 50% FOIR. If the interest rate is 10% per annum, the loan amount eligibility can be arrived at ₹ 13,73,026 using a home loan eligibility calculator . Since the LTV is 90% of ₹ 14 lac i.e. ₹ 12.6 lac, you can get only ₹ 12.6 lac (not ₹ 13,73,026) as the final home loan amount whose EMI comes to ₹ 12,159 per month.
It is provided to you by HDFC and is required for claiming tax deductions. If you are an existing customer, you can easily download your provisional home loan provisional certificate from our online portal . You can apply for a home loan online from the ease and comfort of your home with HDFC’s online application feature. Alternatively, you can share your contact details here for our loan experts to get in touch with you and take your loan application forward.
The role of your credit scores
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Can I get an approval for a home loan while I decide which property, I should purchase?
You may issue standing instructions to your banker to pay the installments through ECS , opt for direct deduction of monthly installments by your employer or issue post-dated cheques from your salary account. The documentation needed to be submitted along with your home loan application form is available here. This link provides a detailed checklist of KYC, Income and property related documents required for the processing of your home loan application.
Login with your User ID and Password to view and download your account statement up to the last 4 years or register to receive statements on your email-id. You can request for the User ID and generate Password instantly online. The estimated total pay for a Account Executive at Majestic Home Loan is $120,971 per year. This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users.
Determining the Right Age to Buy A House
Upon submitting the form, you instantly get an estimate of the amount of loan you can get. Be employed in organizations private limited companies, closely held or unlisted companies, partnerships or proprietorship organisations. If you have more than one earning member in the family, you may combine both net incomes to qualify for a higher home loan amount. For first time owners, it brings in a sense of belongingness and immense satisfaction. I hereby authorize Grihashakti and its affiliates to call and/or send an SMS to me in relation to any of their products. You can enhance your eligibility by jointly applying with a working spouse, parent or sibling.
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This article will explain to you what part of your salary is considered while calculating eligibility, what are the common salary slabs & their eligibility amounts, what are the other factors affecting your eligibility and finally how easy it is to apply for a home loan. The Facilities Provider, ABC Companies or any of its third party service providers and processor bank/merchants etc. shall not be deemed to have waived any of its/their rights or remedies hereunder, unless such waiver is in writing. No delay or omission on the part of Facilities Providers and ABC Companies, in exercising any rights or remedies shall operate as a waiver of such rights or remedies or any other rights or remedies. A waiver on any one occasion shall not be construed as a bar or waiver of any rights or remedies on future occasions. However there is no conflict on these services and commissions if any payable are in accordance of the extant regulations. There are no charges or fees to be paid by you for use of this Website.
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The EMIs will proportionately increase with every partial disbursement made as per the progress of construction. You may be eligible for tax benefits on repayment of the principal and interest components of your Home Loan as per sections 80C, 24 and 80EEA of the Income Tax Act, 1961. Since the benefits may vary each year, please do consult your chartered accountant/ tax expert for the latest information. With this option you get a longer repayment tenure of up to 30 years.
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