I need a home loan for extension of house. but home is in name of my mother. Can i get home loan in my name. and whether tax benefit u/s 80C is available on repayment. pls. guide.
IN MY VIEW, to get the home loan you should be owner. Here oyu can make agreement with your mother that you will be the owner for extention part of home and thus pay some premium amount to mother and take the home loan for both Premium you have to pay and Money needed for construction. And thus get deduction on loan payment and principal amount.
Further i would say consult with any tax expert
Yes, inspite of the house is in the name of your mother you will get home loan from any of the bank. You will be the co-borrower in this case. But see that bank does not give home loan to person of above 65 years, unless special permission from regional/zonal office is obtained.
U can get home loan easily. as the house is in your mother's name thre are very less chances that you can get loan your name.
Stella
https://www.theloanbazaar.com/personalloans/
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