How many number of Home Loans a person can avail in his lifetime ?

POSTED BY shankary ON October 7, 2013 7:59 pm COMMENTS (3)

Hi

We’ve (my wife was co-applicant) availed a home loan with SBI in the Year 2005 and closed it in 2012. Now, again we have applied for another homeloan with IDBI Bank, which has been sanctioned in principle and waiting for the first disbursement. Meanwhile, have thinking of another property to purchase for which planning for homeloan again.

Can I apply ? Please advise.

Thanks

Shankar

3 replies on this article “How many number of Home Loans a person can avail in his lifetime ?”

  1. ashalanshu says:

    Dear Shankar, there is no such guideline. If indeed it exists, please ask for the written copy of the same from the bank officlas.

    Thanks

    Ashal

  2. ashalanshu says:

    Dear Shankary, there is no such limit. As long as you have income to repay your loans, you can take as many as you want to.

    Thanks

    Ashal

    1. shankary says:

      Thanks for your quick response Anshul.
      I heard from one of the Bank Official that one can eligible for 2 home loans and if we apply for morethan 2 homeloans, then the rate of interest would be of the personal loan and not of home loan. Is that correct ? Please clarify.

      Thanks
      Shankar

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