The bank has to make sure that you’re able to repay the loan on time. Typically, a bank assumes that about 50% of your monthly disposable/surplus income is available for repayment. The tenure and interest rate will also determine the loan amount.
Most lenders require 10-20% of the home’s purchase price as a down payment from you. It is also called ‘one’s own contribution’ by some lenders. The rest, which is 80-90% of the property value, is financed by the lender. The total financed amount also includes registration, transfer and stamp duty charges.
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