Table of Contents
- 1 What should be the salary to get 30 lakhs home loan?
- 2 How much home loan a salaried person can get?
- 3 How much home loan will I get if my salary is 20000?
- 4 Can you get 100\% home loan?
- 5 Can I get a 90 home loan?
- 6 What is a 100\% loan?
- 7 How to check your home loan eligibility?
- 8 How much home loan can I get with 1500 medical allowance?
What should be the salary to get 30 lakhs home loan?
Eligibility Criteria for Home Loan of ₹ 30 Lakh Income : A salaried employee who wants a home loan of up to ₹ 30 Lakh must earn ₹ 25,000 monthly, and self-employed should have a gross annual income of ₹ 4,80,000 annually. Credit Score : To avail ₹ 30 Lakh home loan, you must have a credit score above 650.
How much home loan a salaried person can get?
Hence, your salary will become Rs. 49,000 if you deduct these two from it. Now, the home loan amount you will be eligible for is Rs. 29.4 Lakh….How much home loan can I get on my salary?
| Net Monthly income | Home Loan Amount |
|---|---|
| Rs.25,000 | Rs.18,64,338 |
| Rs.30,000 | Rs.22,37,206 |
| Rs.40,000 | Rs.29,82,941 |
| Rs.50,000 | Rs.37,28,676 |
How much home loan will I get if my salary is 20000?
Understand your salary:
| Net Monthly Income (₹) | Loan Amount (₹) |
|---|---|
| ₹ 20,000 | ₹ 10,36,246 |
| ₹ 25,000 | ₹ 13,73,026 |
| ₹ 30,000 | ₹ 17,09,806 |
| ₹ 35,000 | ₹ 20,46,586 |
How much home loan can I get if my salary is 1 lakh?
For example, if you earn Rs 1 lakh and have expenses of Rs 30,000 a month, then you can easily go for a loan with Rs 40,000 EMI. But for someone with the same Rs 1 lakh salary, but having Rs 75,000 in expenses, will find the Rs 40,000 EMI unaffordable.
Can I get 90 percent home loan?
According to the guidelines issued by the Reserve Bank of India (RBI), the LTV ratio for home loans can go up to 90\% of the property value for loan amounts of Rs. 30 lakh and up to Rs. 75 lakh, the LTV ratio limit has been set to up to 80\% while for loan amounts above Rs. 75 lakh, the LTV ratio can go up to 75\%.
Can you get 100\% home loan?
No, you can’t get a 100\% home loan from any lender, be it the bank, housing finance company (HFC). Usually, loan amounts upto INR 30 lakh, above INR 30 lakh-75 lakh and above INR 75 lakh are disbursed at upto 90\%, 80\% and 75\% of the property cost, respectively.
Can I get a 90 home loan?
What is a 100\% loan?
So what is 100\% financing? It means that the lender is willing to cover the entirety of the mortgage without an initial down payment. This can be great for a home-buyer looking to buy a home without deep savings, but you will still need a few thousand on-hand for earnest money and closing costs.
What is the maximum amount of home loan for 50 lakhs?
Generally, the banks provide maximum upto 85\% of loan against the value of property. Therefore, if you want a home loan for buying a property of Rs. 50 lakhs, the maximum amount you can get is 85\% of that ie 42.50 lakhs.
What is the maximum eligibility for a home loan?
If you are salaried person, your monthly income and if you are self-employed, in that case your annual profit would decide your home loan maximum eligibility. The loan amount basically depends upon the net income of an individual.
How to check your home loan eligibility?
Use a home loan eligibility calculator to check the home loan amount you are eligible for. The calculator considers factors like your income, loan tenor, other monthly income, and current financial obligations to calculate the eligible loan amount. High income will fetch you a higher home loan.
How much home loan can I get with 1500 medical allowance?
Assume your medical allowance is Rs. 1500 and LTA is Rs. 3000. Hence, your salary will become Rs. 49,000 if you deduct these two from it. Now, the home loan amount you will be eligible for is Rs. 29.4 Lakh. Use a home loan eligibility calculator to check the home loan amount you are eligible for.