With the rising prices
of residential projects, many find difficulties to buy a home on their own.
Home loans at cheap rates is a great bliss for many who dream of owning a new
home. But there comes the major issue, home loan eligibility. Adding a co-borrower
is considered as the fastest way to enhance one’s home loan eligibility.
Who can be your
co-borrower?
In the point of view of
the lender, the most accepted co-borrowers are the borrower’s spouse, sons or
daughters, and also the parents. When considering the parent of the borrower as
the co-borrower, the lender will take into account the remaining earning life
of the co-borrower.
Generally, brothers and
sisters of the home loan applicant are not accepted as a co-borrower by the
lender. Friends, relatives, unmarried couples etc. are not eligible to be joint
borrower for a home loan, from a financial point of view, these relationships
are not considered to be strong.
Tax benefits
The co-borrower of a
home loan can claim tax benefits if he is the co-owner of the property and
actually servicing the home loan.
Ladder Kerala, the top
names in trusted builders in Calicut presents a choice of residential projects
across the state. Ladder Mankav Greens, luxury flats in Calicut is the choicest
apartments in Calicut by the leading real estate developer Ladder Kerala.
Ladder Tharavad, flats in Ottapalam is a premium apartment project by Ladder
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To Know More Ladder Kerala
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