Housing Loan

This query is : Resolved

Harrshal M Dakle (Querist)
Follow

23 April 2010 Dear Friends,

Want housing loan of Rs. 30 Lakhs but income tax returns for the past three years are not strong enough. However return for F.Y. 2009-10 which is yet to be filed would show an income of Rs 7-8 Lakhs and also per month income for F.Y. 2010-11 would br close to Rs. 60 - 70 thousand. The source of above mentioned income is professional fees received from a reputed coaching classes plus private tutions. Pl help me regarding the same urgently.

CA Prashant Gupta

CA Prashant Gupta (Expert)
Follow

24 April 2010 you can get loan about 75% to 80% of home value which you want to purchase.
for this your 2009-10 return can be considered. there is no problem in it Pvt banks like HDFC or LIC do this.
but return of past 3 years are necessary while they will consider for loan last return as it is high.

Ratan Sharma

Ratan Sharma (Expert)
Follow

24 April 2010 My advise to you not to take housing loan from HDFC, ICICI etc. Better you take loan from SBI or any other nationalised bank. No problem so far your returns situation is concerned. avail repayment period of 20 years.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now