Merits & De-merits of a Joint Home Loan

Co-Applicant's Role in a Joint Home Loan

• Should be connected with    borrower by blood, marriage or    adoption

• Should be 18+ years old & have    a steady income

• Should have strong credit    history

• Shouldn’t have any outstanding    debt

• Should be an Indian Citizen or    Person of Indian Origin (PIO)

• Should not have any property    in their name already

Merits of a Joint Home Loan

• Can get higher loan amount

• Repayment capacity is    strengthened

• Can opt for a better space

• Can avail tax benefits

• Can get special interest rates    for female co-borrowers

De-merits of a Joint Home Loan

• Can face repayment issues

• Difficulty in repayment after    separation/divorce

• Difficulty in repayment after co-    borrower's death