Is Inconsistency in main applicant salary a problem while applying for home loan?

POSTED BY PRS ON June 21, 2014 2:26 pm COMMENTS (3)

I would like to take a home loan jointly with my wife. In this my wife will be the main applicant and I will be the co applicant. Me and my wife both are salaried employee. As per bank we are eligible to get the required loan (15 % extra than we expect).

My salary is regular and on time. My problem is that, as my wife working in an educational organization, there is a salary problem every year from Jan to May. Means she get Jan to May salary at the end of May only. For rest of year there is no salary issue for her. Please let me know can bank deny the loan to me? What else I can do to get the loan?

3 replies on this article “Is Inconsistency in main applicant salary a problem while applying for home loan?”

  1. Hemanth Chandra says:

    I think there won’t be any problem if you tell bank clearly why the inconsitency in the salary is there.

  2. PRS says:

    I already have a flat on my name for which I have taken a home loan previously..
    Hence going to have a investment flat on my wife name… As required lone can be achieved in jointly (as a single applicant, me or she will not get the required loan amount.)
    Due to This, She will get full tax benifit…

    Please suggest your view on my problem..

  3. Hemanth Chandra says:

    Why are you taking a joint loan, that too with wife as main applicant….. Why don’t you take just in your name…. What is the benefit that you will get in a joint loan….

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