scorecardresearchDo you want to buy a house? First assess your readiness for it; MintGenie tells you how

Do you want to buy a house? First assess your readiness for it; MintGenie tells you how

Updated: 24 Nov 2022, 11:15 AM IST
TL;DR.
There are two factors at play here, namely down payment capacity and EMI serviceability. Let’s discuss these 2 in detail Can you bring in 15-20% as down payment from your side? If you plan to purchase a flat/apartment/house on a home loan, then the lender wants you to bring some of your own money on the table as well. And rightly so. They want you to have some skin-in-the-game as well.
It is common these days to rent a place close to workplace despite owing a house in the same city or outside

It is common these days to rent a place close to workplace despite owing a house in the same city or outside