Home Loan for First time buyer

POSTED BY Rizwan Rakhangi ON March 10, 2013 9:32 pm COMMENTS (4)

I’ve booked a flat which is 80% work is done the total cost is 12lac + Rgistry my question is i have already paid 25k as booking and now this month i will pay 1lac for this i have sold our jewellary question raises builder is aking me in check …will this thing create any issue when i will deposit 1lac and issue chq to builder as when i will apply for home loan i’ll need to give 6 month bank statement ……also need suggestion what will be the best thing to do in this situation 

4 replies on this article “Home Loan for First time buyer”

  1. Credexpert says:

    Dear Mr. Rakhangi,

    The lender will require your bank statements of 6 months to check your credit worthiness based on your salary. They would not be concerned about the source through which amount is deposited in your account. However there could be an enquiry from the Income Tax but since the amount is low we see rare possibilities.


  2. Dear Rizwan, question from whom? Bank people or Income Tax people? Please clarify. As you have already sold your ornaments, depositing 1L Rs. should not a be a big issue.



  3. Rizwan Rakhangi says:

    I’ve heard there can be question raised if there is huge deposit is made in ur account suddenly ……

  4. Dear Rizwan, please deposit those 1L Rs. in your bank account & pay through cheque to your builder. the bank ‘ll ask for the bank statement of your salary account to know the actual credit of salary. it ‘ll not look into what you have deposited on your own & from where you arranged that money. Happy house purchasing in advance.



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