POSTED BY June 8, 2013 2:53 pm COMMENTS (3)ON
I purchased a flat of 31 lakh and I already did a 30% payment from own sources but now I want home loan. I enquired regarding home loan in HDFC and they said keeping your car loan constraint you are only eligibly for 17.50 lakh loan amount if you go for 30 year tenure but if you 20 year tenure then you will get 15 lakh loan amount.
They told me that to get maximum loan from bank go for 30 year and whenever you submit the NOC of your current car loan after doing prepayment of car loan. We will increase you loan amount 22 lakh and decrease your loan tenure to 20 year.
I want to know should I go for 30 year home loan tenure to get maximum home loan from bank or should I go for 20 year.
One more thing is it possible to change the loan tenure from 30 year to 20 year and get the full loan from bank after submitting the car loan NOC.