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Q.

Can I Get 85 Percent Home Loan?

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As I was looking for a home loan, I wanted to avail a funding of 85%. To learn whether can I get 85 percent home loan, I started doing some research. From my research, I learned that it\'s possible to get an 85% loan, but the value of the property needs to be below Rs. 30 Lakhs. Banks are not permitted to lend the full property value. The maximum amount that can be availed is 90%. 

Can I Get an 85% Home Loan?

As I mentioned before, it is possible to get but that’s only if the loan amount is below Rs. 30 Lakhs. I learned that according to the guidelines laid out by RBI, home loans can go up to a maximum of 90% of the property value if it is Rs.30 lakhs or below. 

If the loan amount is between Rs.30 lakhs to Rs.75 lakhs, 80% of the loan amount can be availed. And 75% when the property value exceeds Rs. 75 lakhs. I have added a table below, you can refer to that. 

Property Value

Loan Percentage

Down Payment Percentage

Above Rs. 75 Lakhs

75

25

Between Rs. 30 to 75 Lakhs

80

20

Less than Rs. 30 Lakhs

90

10

And that\'s about it. So, to avail of an 85% loan amount, you must fulfil these conditions. I hope this helps. 

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