home loan procedure

Dear Friend Balthi,

 For Home Loan following item is deducted while calculating the eligiblity of loan from gross salary Income

1. Medical Expenses

2. LTA

3. And any Deduction like income tax,PT and PF

4.  Also any Obligation like Installment  of any Loan

   Such above item not considered as income.

5. on Such Net Income 50- 60 times loan is available.

        On remainig Net salary EMI restricted to 40-50% of your monthly Income *60 times

        Eg Your Net salary after deducting all above spefic item is Rs.25000 then your Loan Amount will be

         25000*50%=12500*60times= 750000 P.A is your EMI                   

3 years ITR form is Necessary for Loan