Can I get a home loan of 2 crore?
Table of Contents
Can I get a home loan of 2 crore?
LIC Housing Finance (LICHFL) on Thursday said it will offer home loans up to ₹2 crore at interest rates starting from 6.66 per cent to borrowers, irrespective of whether they are salaried or professional/self-employed, having a CIBIL score of 700 and more.
What should be the salary for 1 crore home loan?
EMI Calculations for a Home Loan of Less than Rs. 1 Crore
| Loan Amount | EMI when Tenor is 10 Years | EMI when Tenor is 15 Years |
|---|---|---|
| Rs.80 lakh | Rs.1,05,721 | Rs.85,968 |
| Rs.90 lakh | Rs.1,18,936 | Rs.96,714 |
| Rs.1 crore | Rs.1,32,151 | Rs.1,07,461 |
What is the best way to buy property?
Best ways to invest in real estate
- Buy REITs (real estate investment trusts) REITs allow you to invest in real estate without the physical real estate.
- Use an online real estate investing platform.
- Think about investing in rental properties.
- Consider flipping investment properties.
- Rent out a room.
Can you afford to rent a Rs 1 crore house?
“Most people can’t afford to buy a house but everybody can afford to rent one. You may not be able to find Rs 80,000-90,000 for the EMI of a Rs 1.5 crore house, but you can afford to pay Rs 25,000-30,000 a month as rent for the same property,” says financial trainer P.V. Subramanyam.
How much does it cost to buy a house in Mumbai?
Let us look at a hypothetical family planning to buy a house in Mumbai. A 2-BHK house will cost them close to Rs 1.2 crore. If they put in Rs 40 lakh as downpayment and take a loan of Rs 80 lakh, the EMI for 20 years comes to about Rs 76,500. They also lose around Rs 23,500 in interest that the Rs 40 lakh downpayment could have potentially earned.
Is real estate a good investment in India?
Real estate is normally the largest investment by an Indian household. Seeing the surge in buyer interest, we reached out to experts to know what people should keep in mind when they purchase property. We list out smart moves that can help buyers get the maximum bang out of their bucks.
Will the recent cut in home loan rates make property a viable?
Don’t be fooled into thinking that the recent cut in home loan rates have made property a viable investment. It will have a marginal impact on the total EMI. A 25 basis point cut will reduce the EMI of a Rs 50 lakh loan for 20 years by Rs 826.