Right Start Go
  • Automotive
  • Business
    • Manufacturing
    • Marketing
  • Finance
    • Loans
    • Insurance
    • Investment
    • Trading
  • Health
  • Home
  • News
    • Law
    • Learning
    • Property
    • Entertainment
    • Event
    • Travel
  • Shopping
  • Technology
    • Tech
    • Seo
No Result
View All Result
  • Automotive
  • Business
    • Manufacturing
    • Marketing
  • Finance
    • Loans
    • Insurance
    • Investment
    • Trading
  • Health
  • Home
  • News
    • Law
    • Learning
    • Property
    • Entertainment
    • Event
    • Travel
  • Shopping
  • Technology
    • Tech
    • Seo
No Result
View All Result
Right Start Go
No Result
View All Result
Home Finance Loans

How Much Home Loan Can You Get – Explained!

Acker Palma by Acker Palma
July 24, 2021
in Loans
0 0
0
How Much Home Loan Can You Get – Explained!
0
SHARES
28
VIEWS
Share on FacebookShare on Twitter
0
SHARES
ShareTweet

If you have ever thought of buying a house, you might know that it’s quite difficult to do so with your savings, thanks to the current real estate prices. Even if you can collect enough funds, there are high chances that you would exhaust all your lifelong savings on a house property.

Thankfully, you have the option of availing a home loan. With a home loan, you can buy the house of your dreams without making a hole in your pocket. Also, you can repay the loan in easy instalments.

However, you must know that there is a limit to the loan amount that you can avail. Before you plan to apply for home loan, it would help if you know the maximum amount of loan you are eligible for.

Read on to know more.

How much loan can you get?

You can get a loan amount that is equal to 70-90% of the property value. The remaining amount has to be paid by you as a down payment. However, the maximum loan amount that you can avail depends on your eligibility too. The higher the eligibility, the higher is the loan amount.

Your eligibility is based on factors like your age, income, existing debt, credit score, educational qualification, etc. Among these, your income or salary forms a vital determinant of your eligibility. Typically, lenders lend five times your annual income as the loan amount. In other words, you can get a loan of up to 60 times your monthly salary. Your net salary (after deducting income tax, provident fund, TDS etc., from your gross salary) is considered for determining the maximum loan amount.

Tips to follow to get a high loan amount

Take a joint loan

You can get a high loan amount by enhancing your home loan eligibility. Taking a joint home loan can help. Having a co-applicant who has a high credit score and eligibility can enhance your loan amount and can also help you get competitive interest rates.

Enhance your credit score

You can defer availing a home loan and apply after you have a good credit score. A high credit score increases your creditworthiness and hence makes you eligible for a high loan amount.

Pay off your existing debts

If your debt to income ratio is high, lenders can reduce your loan amount. Ideally, your total EMI (including the home loan EMI) should not be more than 50% of your monthly in-hand income. Therefore, to get a high loan amount, consolidate or repay all existing debts to enhance your repayment capacity and eligibility.

The amount of loan that you can get depends a lot on your property value and eligibility. If your property is located in a prime location, you could get a high loan amount at competitive interest rates. Similarly, a high credit score and income can also help you get a high-value loan. Moreover, to get a high-value loan, you can opt for a longer tenure as it would reduce the risk for the lender.

Previous Post

Choices for Shapes and Stock for Packaging Boxes 

Next Post

How much do they make on webcam: a girl from Washington shares real figures of her income on Bongacams

Acker Palma

Acker Palma

Next Post
How much do they make on webcam: a girl from Washington shares real figures of her income on Bongacams

How much do they make on webcam: a girl from Washington shares real figures of her income on Bongacams

  • Trending
  • Comments
  • Latest
Creating the Best and Reliable Sheep Shed Design 

Creating the Best and Reliable Sheep Shed Design 

February 12, 2018
Five Fine Features of Sliding Gates for Houses

Five Fine Features of Sliding Gates for Houses

August 29, 2018
Five ways to take your weed

Five ways to take your weed

May 17, 2019
Best Information on Kids Dance Class

Best Information on Kids Dance Class

February 12, 2018
How can an SIP help you to save on your income?

How can an SIP help you to save on your income?

0

Important Tips When Renting A Vehicle

0

What Personal Vehicle Leasing Is

0

The Intricacies Of Invoice Finance

0
How can an SIP help you to save on your income?

How can an SIP help you to save on your income?

March 29, 2023

Kickstart Your Idea With Private Label Manufacturing

March 23, 2023
Where to Take Your Kids for Fun When You Live in Baltimore

Where to Take Your Kids for Fun When You Live in Baltimore

March 21, 2023
How to Update Your Contact Details in Your Demat Account?

How to Update Your Contact Details in Your Demat Account?

March 11, 2023

Recent Posts

  • How can an SIP help you to save on your income? March 29, 2023
  • Kickstart Your Idea With Private Label Manufacturing March 23, 2023
  • Where to Take Your Kids for Fun When You Live in Baltimore March 21, 2023
  • How to Update Your Contact Details in Your Demat Account? March 11, 2023
  • A Beginner’s Guide to Making the Perfect Voice Over Reel February 21, 2023
  • All You Need to Know About Bakersfield CA: Highlights, Restaurants, Landmarks & More February 2, 2023

2023

  • + March (4)
  • + February (2)
  • + January (6)

2022

  • + December (3)
  • + November (8)
  • + October (3)
  • + September (1)
  • + August (3)
  • + July (3)
  • + June (1)
  • + May (7)
  • + April (3)
  • + March (2)
  • + February (5)
  • + January (6)

2021

  • + December (3)
  • + November (4)
  • + October (12)
  • + September (10)
  • + August (5)
  • + July (4)
  • + June (5)
  • + May (4)
  • + April (6)
  • + March (7)
  • + February (9)

2020

  • + December (1)
  • + April (1)
  • + March (2)
  • + February (1)
  • + January (1)

2019

  • + December (2)
  • + November (2)
  • + October (1)
  • + September (4)
  • + August (4)
  • + July (2)
  • + June (6)
  • + May (4)
  • + April (4)
  • + March (10)
  • + February (7)
  • + January (11)

2018

  • + December (15)
  • + November (26)
  • + October (20)
  • + September (16)
  • + August (29)
  • + July (31)
  • + June (24)
  • + May (19)
  • + April (13)
  • + March (16)
  • + February (24)
  • + January (37)

2017

  • + December (2)
  • + October (1)
  • + September (6)
  • + August (8)
  • + July (7)
  • + June (7)
  • + May (3)
  • + April (3)
  • + March (2)
  • + February (4)
  • + January (3)

2016

  • + December (5)
  • + November (3)
  • + October (1)
  • + September (8)
  • + August (2)
  • + July (5)
  • + June (4)
  • + May (6)
  • + April (1)
  • Write To Us

© 2020 Right Start Go- All Rights Reserved.

No Result
View All Result
  • Automotive
  • Business
    • Manufacturing
    • Marketing
  • Finance
    • Loans
    • Insurance
    • Investment
    • Trading
  • Health
  • Home
  • News
    • Law
    • Learning
    • Property
    • Entertainment
    • Event
    • Travel
  • Shopping
  • Technology
    • Tech
    • Seo

© 2020 Right Start Go- All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In