When buying secondhand houses and renovating, it is best to borrow them all at once by mortgage, both on interest rates and on the simplicity of procedures.
Mortgage is basically lower interest rate than reform loan and you can earn mortgage review at once, so it will be more advantageous than mortgage + renovation loan.
Borrow-able amount of housing loan
An annual income is one of the guidelines for the borrowing amount of the mortgage loan.
The borrowing amount and the appropriate borrowing amount suitable for you are different. Even though the annual income is the same, expenditure differs between two families and ten people, and even if hobbies and lifestyle differ, expenditure will change greatly.
Items for examination of housing loans
In the mortgage review, individual attributes are judged.
Attributes are personal information such as age, occupation, workplace, annual income, family composition. (It is a word used occasionally in the loan review, so it should not be damaged even if you know it.)
As a mortgage for a Housing loans, purchased items will be put in mortgages, but depending on the property you may not meet the desired borrowing amount, so be careful.
If you do not reach the desired borrowing amount, you will consider cutting down renovation costs, and you will be using a renovation loan in addition to a mortgage loan.
Requirements for receiving tax cuts on housing loans
Many people are concerned about using a mortgage, whether you can receive a mortgage reduction tax, but both the user and the housing must satisfy certain conditions.
is a bit difficult but selling lands and buildings with ownership of more than 5 years tax cuts, so you have not received it? about it.
Three Documents Required to be Fulfilled by Housing
Any one of the below mentioned document (For individuals must have photo for individuals)
- Passport
- PAN
- Aadhar Card
- Driving License
- Voter ID Card
When it cannot satisfy You have received the earthquake - proof standard conformity certificate.
It is more than 50 square meters, it is within a certain number of years, and whether it is buildings that are in line with current seismic standards if it was built.
Earthquake-resistant standard compliance certificate will be requested to be issued to architects, designation confirmation inspection agencies, registered housing performance evaluation organizations, etc.
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