USA HISTORY

Detailed explanation-1: -1. Location, location, location. Perhaps nothing is more important than the three L’s, and there’s a reason why it’s said three times. Location is extremely important when it comes time to sell.

Detailed explanation-2: -The amount of loan is based on several factors: borrower’s age, value of the property, current interest rates and the specific plan chosen. Generally speaking, the higher the age, higher the value of the home, the more money is available.

Detailed explanation-3: -You can usually get a home loan that is 60 times your salary. However, lenders do not generally consider your in-hand salary when determining the loan amount.

Detailed explanation-4: -In case the property is ancestral, then a No-objection Certificate is required from every single heir and then you can apply for a loan, with your mother being a co-applicant of the home loan. If you want to take a home loan on mother’s property, then the property has to be in the applicant’s name.