Can I Take Home Loan On My Father Property India

Its purely commercial decision not to lend to inter family transactions. There is no law preventing you from taking a loan from your father to buy a house.

Inheriting A Property Is Not Enough Proper Transfer Of Its Title

can i take home loan on my father property india

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Banks do not fund such transactions as they feel that you are doing it just to get a loan at lower interest rate.

Can i take home loan on my father property india. The land is in my fathers name. My father who is. Disappointed in stackexchange management.

Housing loan tax benefits on fathers property. A bank told me i could not do it. Hello i am planning to demolish and reconstruct my house.

Can i get a home loan from my father for purchasing a house. You can get tax deduction benefit of rs 1 lakh for the principal under section 80 c and if the property is self occupied for the interest payable up to rs 15 lakh under section 24 on a home loan. Your chances of home loan approval is higher than loans applied for in individual capacity.

After my father passed away 2009 my younger brother got his job in year 2009 and since 2009 is living in house build by my father and mother. Javedyou can get a home loan to buy your fathers property if your income can justify the loan. So to bridge the gap one can take a loan by taking loan you can pay the loan amount over the years in small installments.

This way it wont affect you so much as money is going in small sections. Will you get a home loan for buying your fathers house. Can i get a housing loan for my fathers property.

Soon after my mother passed away 2015 and since after my brother is looking for a huge amount of money out of this property by either dispute or keeping the property in bank against a home loan he wants to take. It has nothing to do with rbi. You can take a home loan in joint names if you wish to avail a higher loan amount.

The co applicants for the joint home loan can be family members including spouses parents siblings andor offspring. Will i be eligible to take a loan on that land being my father is a co borrower. The answer is yes.

Suppose you want to take a lo. Is been taken only for the purpose of acquiring or constructing a property and that the nexus between the loan and the purpose of the loan can. Browse other questions tagged mortgage india home loan loans or ask your own question.

Charu marwah. There are 3 parts to this question. Typically how the banks looks at this proposal is you are buying the property in question from your father and the property currently.

Can i take a home loan from. Many times we need to buy a home but we dont have enough money to pay the full amount of the housing property by your own. Featured on meta planned maintenance scheduled for wednesday february 5 2020 for data explorer.

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