An
applicant must be in service or engaged in any profession or business with regular income
for servicing the loan.
The loan amount
will not exceed 85% of the cost of the housing unit including incidental costs like stamp
duty and registration. The maximum loan amount will be Rs. 50 lacs for purchase or
construction of house or flat, Rs. 15 lacs for purchase of plot.
The actual loan
amount will be determined on the basis of repayment capacity. Repayment capacity takes
into account factors such as income, age, qualifications, number of dependents, spouse's
income, assets, liabilities, stability and continuity of occupation, savings history &
alternate employment prospects on return to India.
