Section 80EE allows first-time homebuyers to claim a tax deduction of up to ₹50,000 on home loan interest, in addition to Section 24B’s ₹2 lakh limit. Eligible loans must be between ₹35 lakh and ₹50 lakh and sanctioned between April 2016 and March 2017. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/section-80ee
You can take multiple home loans if you meet eligibility criteria like a good debt-to-income ratio, strong credit history, and stable income. Factors like co-applicants, age, and property location also impact approval. Ensure financial stability before taking on multiple loans. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/how-many-times-home-loans-can-be-taken
Before buying a property with active home loan, review loan terms, check property condition, verify legal documents, secure insurance, and plan for closing costs. Ensure the seller has no missed EMIs and evaluate repair expenses to avoid financial strain. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/buying-a-property-with-active-home-loan
There is no limit on home loans, but approval depends on repayment ability, credit score, debt-to-income ratio, and age. Lenders assess financial stability before approving multiple loans. Managing debts well increases chances of securing additional loans. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/how-many-home-loan-can-person-take-in-india
An Occupancy Certificate (OC) is crucial when buying a home, as it certifies that the building complies with approved plans and safety norms. Without an OC, you risk eviction, lack basic utilities, and may face loan and insurance issues. Always ensure your property has an OC. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/buy-house-that-has-occupancy-certificate
Home loan insurance secures your family from loan repayment burdens if you pass away. It ensures financial protection, offers tax benefits, and comes in different plans. Premiums depend on loan amount, tenure, and health. Choose wisely to safeguard your home. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/home-loan-insurance-for-new-home-buyers
Deciding from villa vs apartment depends on space, privacy, cost, and flexibility. Villas offer more space, customization, and investment potential but require higher maintenance. Apartments are affordable, convenient, and easier to manage. Choose based on your budget and lifestyle. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/villa-vs-apartment
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