Owning a home is the common dream among most Indian people. With banks offering instant home loans, buying a home is made simple. If you are wondering what will be the maximum eligible amount for a home loan, here is the answer.
DHFL provides a simple Home Loan Eligibility calculator that can be availed at their official website. You just need to enter your monthly income and your name to calculate the maximum eligible home loan amount. For example, if your monthly income is Rs. 50,000, you will be eligible for a maximum of Rs. 31 Lakhs. After getting the results, you can adjust the tenure and interest rate to get desired results. Based on the interest rate and tenure you select, the maximum loan amount will vary.
Whatever the maximum eligible home loan amount, you need to pay a down payment while buying the home in order to avail the loan. The down payment will range between 10% to 30% based on your loan amount.