Enquiry about Home Loan

[pramod]

Hi,

I just wanted to know the limit of home loan scheme, I can get. I am presently working in a multinational company, how many days it will take to grant me home loan.

Regards
Pramod

[CONFUSED]

The standard is 48 times your gross salary. Most nationalised banks offer only 85 per cent of the cost of the property. But there are banks that will offer you up to 100 per cent of the loan amount, provided you can show them that you have the capacity to repay.

But remember there is stamp duty, registration and other charges that will work out to around 10 per cent of the cost of the property. Take that into your calculations.

[Deep Blue]

Hi,

I just wanted to know the limit of home loan scheme, I can get. I am presently working in a multinational company, how many days it will take to grant me home loan.

Regards
Pramod
If your papers are complete than in Pvt. Bank it normally take around 7-10 Days. PSU banks no idea.

[leojack]

Generally banks will provide 85% loan for home loans. Mostly it takes 1 month for documentation process and registration process. For home loan, the mandatory documents like Aadhar card, PAN Card, Age Proof, 3 months payslips and recent bank statements, Property documents will be required. After confirmation and validation of the documents the amount depends on your income and the amount of loan that you required will be issued.