- Life after Kovid-19, own home is your own
- 90% of the money for the building can be withdrawn from the PF account
Banks offering 90 percent home loan 2020
Budget planning is very important in buying a house or a flat. Various banks offer loans of 70-90% of the value of the house. Even after the Kovid crisis, home loan rates are still low all the time. The bank also pays for registration for houses up to Rs 30 lakh.
Financial Planner and former MD of Tata Mutual Fund V.P. Chaturvedi says, pay special attention to how much our income is and what it will be in the next two-three years. Two things to keep in mind: First- Don’t put yourself under more financial pressure and don’t buy a house smaller than you need to be safe. Dev Sankar Tripathi, MD and CEO, Aadhaar Housing Finance, says loans are not usually canceled if you have not defaulted on any type of bank and you have the paying capacity. Experts say the records should be examined by handing over property documents to a lawyer.
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If you are buying a house, the answer to the two most important questions is
how much loan will I get for the price of the house?
If you are buying a house up to Rs 30 lakh, you can get a loan of up to 90% of the price. Get a loan of 80% of the house price up to Rs.70-75 lakhs. 75% loan can be obtained on a house worth more than that. The cost of registration for a house up to Rs 30 lakh is also included. If the price of the house is Rs 30 lakh and the cost of registration is Rs 3 lakh, then a loan of up to 90% of Rs 33 lakh can be obtained.
I have to pay a little down payment for the house, where can I give it?
About 30 to 35 percent of people are taking out a loan for the first time. Loans up to Rs 30 lakh have to pay 10% margin money, while houses up to Rs 30 to 75 lakh have to pay 20% margin money. You can also arrange margin money by taking a loan from the office. The individual also has the option to withdraw money from his own provident fund. When buying a home, be careful not to make a full payment of the under-construction property.
EMI may be more than 65% of net monthly income of
the former banker RK According to Gupta, according to the RBI, a bank cannot finance more than 90% of the value of the house. The EMI cannot be more than 65% of the customer’s net monthly income. Home loans can be obtained for a maximum period of 30 years. Home loans are also available for people up to the age of 80 in special cases. (I.e. final installment at age 80)
Up to 90% of PF amount can be withdrawn for building
PF Commissioner S.K. According to Suman, you can withdraw up to 90% of the amount deposited in the Provident Fund (PF) for building a house. There are two conditions for this. First- More than five years job. Second- After withdrawing 90% of the amount, there should be Rs.1000 in the PF account. At the same time, the person who wants to buy the property has to provide a copy of his papers or self-declaration.
If you have any questions about buying a home you can ask the experts directly. Give a missed call on 9190000074 to ask a question. You will receive a link via SMS. When you open the link, you will find a form in which you can type your question and send it to us. Selected questions will be published in the Wednesday, June 17 issu