Joint Home Loan Benefits: The government also helps build houses. If you want to make a good house without the capital, do not worry now. You can easily set up your house by taking a home loan. Do you know you can now consider taking a joint home loan instead of a home loan? It is much more readily available than a regular Home Loan.
The most important thing is that the loan amount is relatively high, so you can build your fabulous house if you are considering a joint home loan so as not to delay. Husband and wife can apply for a Joint Home Loan in their name. You can benefit from this better option, which is a great offer. You can learn the essential things related to Joint Home Loans in the news below.
With whom should you get a joint home loan?
You can take the amount of a Joint Home Loan with any person, but husband and wife are a good option. Women have more benefits if they are joint applicants. If the man is not married, he can also give his parents or sister a place in the application.
If you apply for a loan with your wife, both must claim income tax benefits under section 80C. Along with this, both can get discounts of 2 lakhs in different ways on interest on prepayment. One can also easily avail of a maximum tax exemption of 1.5 lakhs in 1 year on the principal amount.
Home loans will be available at low interest rates.e
Do you know that many banks and NBFCs provide homloansan at concessional interest if the buyer is a woman?n. This is usually 0.05 per cent less. Also, if the name is in the woman’s name, some concession is available in stamp duty and registration fees. This benefit will be readily available if a woman owns the property.
You will get an additional discount when a house is sold.
You will be happy to know that with the purchase of the first house on a Home Loan, you get the benefit of an additional deduction of Rs 50,000. For this, the loan amount should not exceed Rs 35 lakh, and the property price should not exceed Rs 50 lakh. Also, to get an extra discount of Rs 1.5 lakh on paying interest, the stamp duty value should be Rs 45 lakh or less.