One main factor left out in this article is age & remaining service left. All these calculations will work only if one has atleast 20 years service left. As the remaining service keeps coming down the eligibility will also come down. Pls be careful.
Why would one want to leverage themself so much, especially when real estate is not all that is cracked up to be. Unless of course, this is a country of Americans and we are "smart" enough to go bankrupt at the "expense" of the rest of the world.
Stay well within your means... don't you know that there is always someone richer than you - what would be the darn point??
not as simple as shown.... and not all banks follow same norms. there are credit scorings, cibil reports, net take home salary, other loan emis, value of property, legality of title, valuation report, all which play equal and important part in deciding a home loan. and proc fee is upfront, ie, collected on sanction only, and not as said, atleast in public sector banks.
Re: re
by Anil Gupta on Jul 15, 2011 05:37 PM
Just deduct the total amount of your monthly EMI amount of car loan and home loan from your Net pay and then multiply by a factor of 60 to reach the actual eligibility.
