Typically, it should be less than 50% for eligibility. LTV (Loan to Value):

Even if you have a higher home loan eligibility in terms of your net monthly income, financial institutes only fund up to 75% to 90% of the total cost of the property.

According to the guidelines issued by the Reserve Bank of India (RBI), home loans can go up to 90% of the property value for loan amounts of Rs. 30 lakhs and below.

Instead of spending a lump sum amount on the property, it is better to go for a large amount down-payment and pay off the remaining amount in higher amount, monthly EMIs, since you can afford it.

The number of active loans in the affordable segment up to 35 lakh between April and December 2020 was 1.58 crore (15.8 million).

This constituted 89.66% of the total market.

Is it difficult to get a home loan in India?

Getting approved for a home loan is not easy. You have to provide a huge list of documents including proof of employment, proof of income, property documents and more to the loan officer.

Is it better to take home loan or not?

Experts believe that even if you have the sums to purchase the property in one go, it is better to take a home loan.