You can get a housing loan of approximately Rs. 13.31 lakhs with a salary of Rs. 27,000. However, as a bank manager, I would highly recommend using an online home loan eligibility calculator to get an accurate loan amount. My brother recently availed a home loan from HDFC Bank, and he asked me how much home loan can I get on 27000 salary? Let me tell you what I explained to him.
How Much Home Loan Can One Get with 27000 Salary?
Whether you are planning to take a home loan or looking for information about home loans, I can give you some tips to improve your eligibility and get loans with decent interest rates. Before that, here’s a quick overview of home loan eligibility for people with a Rs. 27,000 salary.
Loan Amount Rs. 13.31 lakhs
Interest Rate 9.25% p.a. onwards
Tenure: 5 years
The interest rate here may vary slightly depending on your credit score, exact loan amount, property value, and so on.
Tips to Improve Your Home Loan Eligibility
There are many ways you can improve your loan eligibility. First, I’d suggest adding a co-applicant with a steady income. This will strengthen your loan application. Here are some tips you can use to enhance your home loan eligibility.
Make sure you have no outstanding dues to improve your debt-to-income ratio.
Your credit score plays a huge role in determining your eligibility for home loans. So, if you have a high score, your chances of getting a good loan amount may be higher.
I would also suggest opting for a longer home loan tenure, which may reduce monthly EMIs. This will help you pay the debt comfortably.
Also, try as much as you can to increase your income through investments or freelancing.
So, that’s all about home loan eligibility. I hope this gives you some ideas.
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How Much Home Loan Can I Get on 27000 Salary?
Pratyasha
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9 months
2025-02-27T10:31:58+00:00 2025-02-27T12:16:05+00:00Comment
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