what options do i have for a loan. which institution would be the best. is it possible even or should i quit thinking about it.
2006-11-27 01:54:19 · 7 answers · asked by dhruv 1 in Business & Finance ➔ Renting & Real Estate
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2006-11-27 22:47:34 · answer #1 · answered by Anonymous · 0⤊ 0⤋
A home is not an investment. It is a liability, and that too when u r just earning 15K. Just think about the depriciation in its value over the years.
I think, it would be best to buy a home when u earn enough for paying the loan.
Anyway, I think it is not possible right now for u to take a loan for 25L with ur salary range. And even if u get (which is out of the qn) u will have to make a downpayment initially - which is atleast 15-20% of the loan amount.
So, wit till u earn considerably, and then go for a home.
2006-11-27 01:59:09 · answer #2 · answered by Deepu 2 · 0⤊ 0⤋
You shall be eligible for a loan of 7 to 9 lacs assuming 15k as your take home salary. make a joint application with someone who has approximately regular income of 25 to 30 k. per month.
LICHF is the best institution to approach.
2006-11-27 14:31:37 · answer #3 · answered by cvrk3 4 · 0⤊ 0⤋
Your EMI would be at least Rs.25,000 for a 15-20 years period. Your salary, assuming gross, is Rs.15,000. So your take-home salary is between Rs.12,000 and Rs.13,000. You may not be eligible for a loan more than 12 to 13 lakhs. If you apply for a loan only on the basis of your present salary, you have to go for a house costing 12 to 15 lakhs. Please decide on the basis of real income. Good luck!
2006-11-27 02:38:37 · answer #4 · answered by SRIRANGAM G 4 · 1⤊ 0⤋
Live with parents or others....please save enough as some one has already said it s a liability for you as of now.... things do change and you are the one who can make them change so try to find something better to do than job,,,create a system which works for you- develop some business system which will make you financially free....want to read...Rich Dad Poor Dad ...enjoy
2006-11-27 08:47:30 · answer #5 · answered by bhavinkiss 1 · 0⤊ 0⤋
Dont touch your salary for 167 months then it will become more than 25l then take that amount and your dream house......
All the best
2006-11-27 02:11:37 · answer #6 · answered by afk 3 · 0⤊ 1⤋
get off the comp & slog slog & slog
2006-11-27 02:03:10 · answer #7 · answered by sushrut 2 · 0⤊ 0⤋