CA Sakchi Jain Instagram – Don’t take a home loan
without watching this!!
Day 8 of our series Money and Matrimony!💍
Besides all the benefits:
– By taking a loan with your wife, the combined income increases the total incoming wages considered by lenders.
– This higher combined income makes it possible to get a loan sanctioned for a higher amount, allowing you to opt for a better property.🏠💍✨
Many Indian states offer a partial or complete exemption on stamp duty and registration charges for women buying property as sole owner or joint owner. For Eg. In Delhi stamp duty for men is 6% but for women it is 4%. A 2% reduction in cost of Property Value
It is important to remember that taking a joint applicant home loan is not the same as co-owning a property, especially if one of the owners is not an earning member. Here, the danger is that in the case of the death of the earning member, the non- earning member will be responsible for repayment of the loan-and with no income, they may find they have to foreclose the property entirely.
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#HomeLoanTips #TaxDeductions #MarriageAndMoney #FinancialPlanning #Newlyweds #CASakchiJain | Posted on 19/Jul/2024 19:06:36
