How Much Home Loan Can I Get : In today’s era, banks have made huge dreams like buying a house very easy. You too can easily build your dream home through the Home Loan Offers given by the bank.
And you can easily re-pay it by taking a home loan from the bank. But getting a home loan from the bank is not easy.
Before giving home loan, the bank does many types of investigation and verifies the documents.
If you are thinking that my salary is Rs 30,000 per month, then the bank will not give me a loan, it does not happen at all.
Let us know that if your salary is Rs 40,000, then the bank can give you a home loan of up to Rs. 60 times the salary loan
According to Bajaj Finserv, the lander always gives you a home loan of 60 times your salary. Before giving home loan, the lander takes care of many things,
This includes criteria like your Credit Score, Salary, Age, Location, Current Liabilities. The point to note here is
That while giving home loan, the lender does not see your In-Hand Salary, because these things are also included in your In-Hand Salary…
Leave Travel Allowance (LTA)
House Rent Allowance (HRA)
If your In-Hand Salary is Rs 60,000, then you can get a home loan of up to Rs 36 lakh from the bank.
But the lander does not include these allowances in your In-Hand Salary. Let us understand from your In-Hand Salary that you can get a home loan of Rs.
How Much Home Loan Can be Availed According to Salary
|Net Monthly Income (Rs.)||Home Loan Amount (Rs.)|
The higher the salary, the higher the home loan
The higher your Monthly Salary, the higher will be your Home Loan. Apart from this, if your CIBIL score is not good
So first of all get it fixed. Because if the CIBIL score is not good then you may also face problem in getting home loan.
If your CIBIL Score is 750 or more, then understand that you can consider yourself eligible for taking a home loan. However, the higher the CIBIL score, the better it is considered.