Frequently Asked Questions
How much home can I afford with my salary?
As a rule of thumb, you can afford a home priced at 3-5 times your annual income. Your EMI should not exceed 40-50% of your monthly income.
What percentage of income should go to housing?
Financial experts recommend spending no more than 30-40% of your gross monthly income on housing costs including EMI, maintenance, and property tax.
How much down payment do I need?
Most banks require a minimum down payment of 10-20% of the property value. A larger down payment (20%+) can help you get better loan terms and lower EMI.