Housing loan eligibility

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Querist : Anonymous

Querist : Anonymous (Querist)

13 March 2014 1. wht is the taxable income (per year)for eligibility of 20 lakhs housing loan.

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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13 March 2014 4 to 5 lacs depending on the bank.It may be higher for private bank.

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Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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13 March 2014 Recently one of my assessee got Rs.14 lacs housing loan from State bank of India for 3.5 lacs average annual Taxable Income. As well as to another assessee syndicate bank offered to give Rs.12 lacs of housing loan for 3 lacs average annual Income.

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Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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13 March 2014 As well as maximum loan eligibility shall also depending on the cost of investment by the assessee in such house property depending on the bank and it's margin for loan.
So not only income important to get housing loan also required cost of investment.

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