We are planning to buy a flat within a budget of 35-40 Lacs and take a housing loan for the same. As much as I have enquired, we can get around 75% -80% loan of the total property cost. lets say our combined salary is around 70k pm. WE are going to rent out the place and now we are staying with my in-laws so no need to pay rent but the household expenses is provided by us around 20k incl of everything(except our personal expenses). There are no loans for both of us only LIC policy which takes around 8k total. Do you think it would be a good option to buy a house at this point of time? Which option will be good to get a home loan(pvt banks/ public sector banks/LIC)? Who will give max loan amount? Thanks
Suppose u r buying home of 40 lacs .. U need to chip in ur money of 8 lacs ( 20% ).. rest can come thru Home loan.... if u r coming short of money .. U can apply for personal Loan . if u r very sure for the property u r buying is going to increase by X time in Y years ..
