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QUESTION

Can the home loan amount be increased or decreased after sanctioning of the loan?

home loan amount, sanctioning of the loan
By 99FAQs   a year ago   Home Loan 425 views
 
 
 
 
 
 
 
ANSWERS (4)
 
 
 
 
Narayan 7 months ago
yes
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Naleim a year ago
yes it can be provided your ITR's and supporting documents are sufficient for the loan to be increased.Naleim
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Bricwealth a year ago
Home loan amount can be increased or decreased prior to disbursal of the loan. In a lot of cases, customers first get their approval done so they know how much loan they can get. This enables them to work backwards to find a property within their budget. Sometimes a lesser amount is required if the customer opts for a low priced property. Home loan amount can be increased if the customer has the income eligibility and decides to opt for a more expensive property after the loan is sanctioned. However, there may be additional fees charged for increasing the loan amount.
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Yes - the home loan amount can be increased or decreased after post sanction but pre-disbursement you can decrease the loan amount. Increase of loan amount is only possible subject to loan eligibility as decided by the lender.
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