When taking a home loan in India, these are the factors that need
to be considered:
The Right Property: As the home buyer, you need to make sure that
the chosen propert…y is worth investing in. Since you are availing a
loan to pay for it, the lender too will assess the property before
approving the loan application. The price, location, legal aspects
are commonly assessed.
Loan Amount and Downpayment The amount applied for is very
important in deciding the affordability of the loan- higher the
amount, more will be the EMI to be paid thereafter. Banks/NBFCs
only grant 80-85% of the property's value; the remaining 15-20% is
to be covered by the home buyer himself/herself.
The Right Lender (MORE)