Home loan is based only on Salary ? Will the bank consider the income from the house also?

POSTED BY isenthilkumar ON May 30, 2013 4:30 pm COMMENTS (3)

Hi JIs,


I am planning to invest in a house in Banglore. My salary is 4.8 Lac/annum. The Home seems to be like a mini apartment with set of houses.(Three 2Bhks, four 1 Bhks ,This is overall figure).  The Price seems to be 1.40 Crores. I have around 60 Lacs as cash. What am planning is “If i have taken a loan for around 80 Lacs ,my EMI will be around 80 K per month. The house is going to generate 80 K as a income from rent. Over the period of time the Rental value will also increase. My question here is “Will Banks consider the income from the house also while giving the loan because my salary seems to unfit for the 80 lacs????” 

3 replies on this article “Home loan is based only on Salary ? Will the bank consider the income from the house also?”

  1. Dear Isenthilkumar, Yes the rental income ‘ll be considered for loan sanction. I have done it for myself personally & few of my friends also. But make sure your calculations are correct. Taking a loan of 80L Rs. against a defined mly income of around 40K ‘ll make your life hell if rental income does not come out as per your plan.



  2. No

    Rental Income of the property for which the loan is sought is specifically excluded from the computation of your total income

    This fact is very clearly stated on websites of most of the banks…

    1. isenthilkumar says:

      Thanks for your valuable reply.

      Is there any other way to get the loan ? I am planning to buy that property in my mother’s name. But my mother is non-employed but she has some property on her name. So Will the banks give loans based on the security of the property ? If they give will there be any variant in the Interest rate ?

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