Want A Beautiful House? Get Married

Published: July 29, 2008 at 4:37 PM | Author: Administrator
News Source: DNA Money (Mumbai)

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If you are single and looking for a house, get married. As after the marriage, the housing finance company will consider the total income of the couple and you will end up getting a bigger loan than that available individually. Given this, you can buy a sea-facing flat in Mumbai. But if you are looking for something like this, take a loan for a lesser term. Usually, individuals take tend to take up loan for a tenure of 20 years. And married couples (if both are earning) can take a loan of a lesser term for around 15 years, having a greater equated monthly installment (EMI). Also, under the joint loan scheme, both will be allowed tax deductions for the EMI paid to repay the loan.