This document lists 13 frequently asked questions about home loans in India. It addresses questions about tax savings from home loans, loans for home renovations, selling a property with a home loan, the difference between pre-EMI and full EMI, how elections may impact interest rates, taking loans jointly for a property, what EMI and pre-EMI mean, loans for affordable housing projects, combining personal and home loans, hidden home loan charges, terms for switching loans, documents for joint loans, and pre-approved loans. The document aims to provide answers and information to common queries about obtaining and managing home loans.

1. 1
Frequently Asked Questions
on Home Loans In India13

2. While buying a property
on a Home Loan,
there are too many
Unanswered Questions

3. Here’s a list of
13
Frequently Asked Questions
About Home Loans

4. Q: How can you save tax by availing for a Home
loan ?
A: Principal repayment upto Rs 1 lakh under Sec
80C is allowed . Read more here
#1
#HomeLoanTalk

5. Q: Is there a Loan with low interest rates to
change the interiors of a house?
A: If you do have a large spend plan for the
interiors then you may apply for loan against
property. Read more here
#HomeLoanTalk
#2

6. Q: Can I sell a property which is on a home
loan?
A: Yes, you may get into an agreement to sell
the property on which you have a home loan .
Read more here
#3
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8. Q: Pre-EMI vs Full EMI: Which one is good for
you ?
A: Irrespective of whether it is pre EMI or full
EMI, the interest costs do not change for you .
Read more here
#4
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9. Q: Will the elections have an impact on the
home loan interest rates?
A: Interest rates are a factor of several macro
and micro economic factors . Read more here
#HomeLoanTalk
#5

10. Q: Can two unrelated people take a housing
loan jointly to buy the same property?
A: No, two unrelated people cannot apply for
a loan on the same property . Some banks
approve the loan if ..More here
#6
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11. Q: What is EMI and Pre EMI?
A: Pre EMI is a part of the EMI which is defined
as simple interest that one pays on the loan
amount till the EMIs start . Read more here
#7
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12. Q: Are loans available for affordable housing
projects?
A: The issue is that many buyers will not be in
a stage to afford the loans. Because they will
have to pay ..more here
#8
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13. Q: Can I combine my ongoing personal loan
with a house loan?
A: Ask your home loan lender to give you a top-
up loan on the security of the house and you
can prepay your personal loan with it .
Read more here
#9
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14. Get all the
Knowledge
About
Property Buying here

15. Q: What are the hidden charges to take care of
before taking home loan?
A: Home loan application to a bank attracts
the following charges . Read more here
#10
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16. Q: What are the terms one must know while
switching home loan from one bank to another?
A: Before you switch your home loan you must be
well aware of Tenure Reduction , EMI reduction
& Top up loan. Read more here
#11
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17. Q: What are the Documents required for joint
home loan?
A:While opting for a joint home loan, the
maximum loan tenure for spouses (if they are
co-applicants) can be extended upto 20 years
or 25 years . Read more here
#12
#HomeLoanTalk

18. Q: What are pre approved loans ?
A: Pre approved loan is an option for getting
loan before finalizing the property. Banks will
consider your income & sanction the loan
amount .Read more here
#13
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Property Buying ?
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