It preparation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 July 2013 Hai, on what bases the banks are shortlisting the application for home loan with the income of applicant shown, how much percent the bank will pay as a loan on average of 3years income

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

10 July 2013 Every bank has different criteria for giving loans as per their internal policies and subject to rbi's guidelines over this issue.

In general they will check ur status as a taxpayer, ur past banking tranaction, ur deposits, sources of income, security u provide,its market value,guarntor or ur loan, his background etc other rhen ur income of past 3-5 years, the assets u own solely in ur name etc.

Querist : Anonymous

Querist : Anonymous (Querist)

10 July 2013 Hai the exact details i want is if a person goes for a loan of Rs 1000000/- then how much his net income to be shown for the three years in the incometax

Upgrade to CAclubindia Pro. Subscribe Now!

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
Follow

11 July 2013 agreed to expert

every bank has their different calculation. basic things are net income,source of fund, assets, other loan liabilities etc etc,

they also want to know what they (property) received while giving loan to a person is more than loan value.

so it is better to go to bank and give them last three years of your income statements and property paper and ask them how much you can give me as home loan.