Frequently Asked Questions About Loans and Loan Assistance

Two limits apply. Your income, age, existing EMIs and credit history decide how much you can repay, and the property’s value decides how much the lender will fund. You get the lower of the two. A co-applicant’s income can raise the first limit.

No. RBI caps how much of the property value banks can lend: up to 90% for loans up to ₹30 lakh, 80% above ₹30 lakh and up to ₹75 lakh, and 75% above ₹75 lakh. Lenders may fund less. You pay the rest, plus stamp duty and registration costs, usually from your own savings.

Yes. Most lenders allow a spouse, parent or other close family member to apply with you, and both incomes count towards eligibility. Lenders often require every co-owner of the property to be a co-applicant.

Usually the sale deed or agreement to sell, the chain of earlier title documents, approved building plans, the builder’s allotment letter for a new project, and property tax receipts. The lender’s legal and technical teams check these before the loan is disbursed.

Yes, if the project, the builder and the approvals meet the lender’s rules. The loan is usually released in stages as construction progresses, and until possession you may pay only interest on the amount released.

It means moving your existing home loan to another lender, usually for a lower rate. It makes sense when the interest saved over the remaining tenure is clearly more than the costs of switching, such as processing, legal and valuation fees.