The exact 35000 salary home loan amount you can get in India will depend on various factors, including your age, credit score, existing debts, and the lender's policies. However, as a general estimate, you could potentially qualify for a home loan of up to ₹29 lakhs.
Lenders typically consider your debt-to-income ratio (DTI) to determine your loan eligibility. DTI is the percentage of your monthly income that goes towards debt payments. Most lenders prefer a DTI of 50% or less. As far as I know about home loan eligibility for 35000 salary, with this salary, assuming no other debts, your maximum EMI (equated monthly installment) could be around ₹17,500.
Using a home loan eligibility calculator and assuming an interest rate of 8% for a 20-year loan tenure, the maximum loan amount you could qualify for would be approximately ₹29 lakhs. This is just an estimate, and the actual amount may vary depending on the lender's assessment of your financial profile.
Here are some factors that can influence your home loan eligibility:
Credit Score: A good credit score indicates financial responsibility and increases your chances of getting a higher loan amount.
Existing Debts: Lower existing debts will improve your DTI ratio, making you more eligible for a larger loan.
Loan Tenure: A longer loan tenure can reduce your EMI, allowing you to qualify for a higher loan amount.
Down Payment: A larger down payment reduces the loan amount, increasing your chances of approval.
Now you know about home loan for 35000 salary.
Check out NoBroker to apply for home loans. Read More: How Much Home Loan Can I Get on 100000 Salary? How Much Home Loan Can I Get on 90000 Salary? How Much Home Loan Can I Get on 18000 Salary?
How much home loan can I get on 35000 salary?
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October 7, 2021
2021-10-07T15:58:39+00:00 2023-10-22T06:56:21+00:00Comment
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