Home Loan

You can take Second Home Loan, subject to condition that Bank grants you the same & you have additional Re-payment capacity,

Yes, You can get rebate u/s 80C (Maximum aggregate repayment permissible will be Rs. 1,00,000/-)

U/s 24(b) you get Max allowable interest payment upto Rs,1,50,000/- for Self-occupied House Property & for Second House Property if Rented.

You can take a second home loan

but max interest benefit for Self occupied property is - Rs.150000

no limit for rented property

Max principle payment benefit - Rs.100000 under section 80C