To purchase a house, I needed a home loan, and to learn about how much home loan can I get on 28000 salary, I called the bank. I told the bank executive about my salary and asked him how much I would get. He told me that I would receive around Rs. 20.16 Lakhs. The executive asked me to visit. During my visit to the bank, he explained the process to me.
How Much is the 28000 Salary Housing Loan Amount?
The executive told me that most banks use the multiplier method to calculate the amount of loan that I can receive. For that, they multiply the NMI (Net Monthly Income) by a factor between 60 to 72. Following that, he helped me with the calculation, which I have added below.
Since I have a salary of Rs. 28,000, he told me to multiply it by 72. So that would make the amount.
Rs. 28,000 x 72 = Rs. 20,16,000 =
Rs. 20.16 Lakhs.So, the 28000 salary home loan amount is Rs 20.16 Lakhs. He also told me that this was the maximum amount that I could receive, but it could differ based on my CIBIL score. Hope this helps.
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Authors Of The Question
How Much Home Loan Can I Get on 28000 Salary?
Sukesh
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1 Answers
2 months
2024-10-01T10:48:20+00:00 2024-10-01T10:48:21+00:00Comment
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