Yes it is possible to obtain a home loan as a NRI in India until you are above 21 years of age. There are other factors like the credit score and documentation requirements that also impact the possibility of getting a housing loan. You can check out on you eligibility and loan options by contacting NoBroker Home Loan Services , they will help you end to end on obtaining the loans.
The Indian real estate market is a great investment option for NRIs as it’s easier to earn in a stronger currency and pay in the Indian rupee. But can NRI get home loan in India? The answer is yes, they can easily take property loans from Indian banks to buy properties.How can a NRI get a home loan in IndiaIf you come under FEMA’s definition, then you can take a housing loan in India. FEMA defines NRIs as people who live outside India for “carrying on business, employment, or vocation in situations as would show an intention to live outside India for an unknown period". According to FEMA, individuals will also be considered NRIs if they reside in India for less than 182days during the previous F.Y.Home Loan Eligibility for NRIs
I will try to resolve your queries like can NRI get home loan in India or can a NRI get a home loan in
India. A home loan in India is available to anyone who meets the criteria of the Foreign Exchange
Management Act, 1999 (FEMA). An NRI is someone who lives outside of India. All NRIs are eligible to
take home loans in India. These loans can be used to buy, build and renovate a new or existing
residence. Additionally, home loans can be used to purchase a piece of land for personal use.
The method for obtaining a home loan is the same for all Indian citizens. There are, however, a few
things to keep in mind. In determining the maximum amount of loan an NRI can get, factors such as
his or her income and educational background matter a lot. To be eligible for a house loan, you must
hold a bachelor's or master's degree. I have provide the answers to the questions like can NRI get
housing loan in India and can NRI get loan against property in India.
Is it possible to get a home loan to build a new house as an NRI?
AvinashK
✔In Progress
👁321
Views
August 28, 2020
2020-08-28T20:36:37+00:00 2021-05-03T17:56:11+00:00Comment
4
Answers
NRI
Share