Many people find it difficult to purchase a home without a home loan due to the rising cost of real estate. However, if you are a taxpayer, you are required to submit your Income Tax Return (ITR). But how much ITR is required for loan of 12 lakhs? Usually, it requires a minimum of the last 2 years of ITR.
How much ITR Required for 12 Lakhs Home Loan?
The lenders generally ask for the last 2 to 3 years of ITR documents to evaluate income consistency and repayment capacity. These financial records are crucial, especially for self-employed applicants.
They reflect declared earnings, tax paid, and give lenders confidence that you have a steady income to meet EMI obligations.
For a Rs 12 lakh loan over a 20-year tenure at an assumed interest rate of around 8 % p.a., the EMI would be approximately Rs 10,000 per month.
Besides ITRs, lenders assess several eligibility factors:
Credit Score
Lenders review existing EMIs and liabilities to ensure you can absorb the new loan.
Employment or Business Stability
Most lenders finance up to 80–90% of the property value, so you'll need to cover the remaining 10 to 20% as down payment.
Property Documentation
I hope you found this helpful.
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How much ITR is Required for Loan of 12 Lakhs?
priya
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5 months
2025-07-18T09:56:16+00:00 2025-07-18T09:56:18+00:00Comment
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