Can I Get Home Loan For Old Flat?

So very for an old building/flat the lender may not give you loan for as extended period as 40 year (which is presently granted by a few lenders like Oriented Bank of Commerce) if the building is already 35-40 years old but may be willing to give the home loan for shorter tenure say 5 years to 10 years.

Can I get home loan for resale flat?

5 Benefits Of Purchasing A Resale Flat:

You can take immediate possession of the flat once your home loan is processed, unless there is renovation and re-furnishing work to be done. The overall cost incurred from availing a home loan for a resale flat is low compared to a flat/property under construction.

Can I get home loan for buying old house?

Yes, banks give loan for purchase of second hand property. But they consider the age of the property and it’s remaining life for fixing of repayment period. Generally they do not consider loans for purchase of old house/flat older than 40 years. It may change from bank to bank.

Can I take HDB loan for resale flat?

If the buyers intend to purchase an HDB resale flat with a housing loan from HDB, they can use our Resale Financial Plan e-Service. It can help buyers to better prepare their finances before committing to a flat purchase. This e-Service gives estimated figures for the following: Loan amount from HDB.

Is NOC required for home loan?

NOC from Housing Society for Balance Transfer

If the property you have purchased using the original Home Loan belongs to a registered housing society, then you need a NOC from the society before you can opt for HLBT. Usually, the lender would give you a format in which the NOC must be obtained from the society.

How much loan can I get on 60000 salary?

You can get upto 60% of your monthly take home as EMI. It means at Rs. 60000/pm you can pay up to 36000/pm as EMI so @9.4% for 20 years you can avail Rs. 37-40 lakhs loan.

How much home loan can I get on 35000 salary?

my salary is around Rs. 35000. How much can I get from a Public Sector Bank. There is Guideline Bank gives loan in a calculation what you get in cash in hand & whats your age and how many days you are working on the firm you work. But you will get maximum -: 20 Lakhs to 18 Lakhs, But it also depends on your age too.

How much home loan can I get if my salary is 25000?

For instance, if your salary is Rs. 25,000 and the value of house you are buying is Rs. 40 lakh, then at interest rate of 8.55% offered by SBI, the loan amount that you will be eligible for (assuming you have no other EMI’s to pay) would be Rs. 37.31 Lakh to Rs. 42.07 Lakh depending on your age.

How do you buy a house for resale?

Buying a Home with Resale Value

  • Number of bedrooms. As stated above, homes with three or more bedrooms sell faster.
  • Storage space. As stated above, homes with garages are much more likely to sell faster than those without them.
  • Lot size.
  • Curb appeal.
  • Age of Roof, HVAC, and Water Heater.
  • Location.
  • Neighborhood Amenities.
  • Size of home for neighborhood.

What kind of loan can I get to buy a house?

FHA Loans. FHA home loans are one of the most popular types of home loans used by first-time homebuyers. Borrowers with a 580 or higher FICO score may qualify for an FHA loan with just 3.5% down. Because of the low credit and down payment requirements they are loved by first time home buyers.

How long does it take to buy a resale flat?

No waiting time: You can move into a resale flat immediately after the sale is completed. The resale procedure typically takes under three months. By contrast, the waiting time for a BTO flat is typically 2.5 years from the date of application. No balloting process: Getting a BTO flat is largely a matter of luck.

How much is it to buy a resale flat?

The fees are S$40 for 1 or 2 room flats, and S$80 for 3 room or bigger flats. After the resale application has been submitted to HDB, you will need to put up an Initial Payment using your CPF. This is either 10% of the sale price if you’re taking an HDB loan, or 20% or 40% of the sale price if taking a bank loan.

Can single buy 5 room resale flat?

Singles – whether individually or jointly – can purchase any type of HDB resale they desire, provided they can afford it. (HDB flats have a minimum occupancy period of 5 years, and with current supply not yet meeting demand, it is unlikely you’ll find any 2-room units on the resale market anytime soon.)

Can we get home loan without OC?

Home at risk – Flat without OC

Without a valid OC, your occupancy is illegal as it can be classified as an unauthorised structure by the authorities. 2. OC is crucial while applying for a home loan or loan to purchase a resale flat. You cannot even sell your property without a valid OC in hand.

How can I get NOC from bank for home loan?


  1. Obtain an No Objection Certificate (NOC) as soon as you fully pay off your home loan.
  2. An NOC helps – remove lien from your property. improve your credit score. get another loan. sell your property. get insurance claims, if any.

Is completion certificate mandatory for home loan?

Completion certificate is a legal document that attests the fact that a building has been constructed in line with construction norms. It is mandatory for all developers to show completion certificate to have water and electricity connection in the building.

Which bank home loan is best?

Top Banks Home Loans & Interest Rates in India 2019

BanksLoan AmountMax.Tenure
SBI Home Loan10 Cr.30 Years
ICICI Bank Home Loan10 Cr.30 Years
Axis Bank Home Loan10 Cr.30 Years
HDFC Limited Home Loan10 Cr.30 Years

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How much home loan can I get on 40000 salary?

Housing Loan Eligibility Criteria

Net monthly income should be more than Rs. 25,000. In case your net monthly income is between Rs. 25,000 – Rs. 40,000, you may be eligible for loan if your fixed obligations (rent, EMI) do not exceed 50% of income.

Can I buy a house with 40000 salary?

Take a homebuyer who makes $40,000 a year. The maximum amount for monthly mortgage-related payments at 28% of gross income is $933. ($40,000 times 0.28 equals $11,200, and $11,200 divided by 12 months equals $933.33.)