home loans basics

1. Individual(s) over ......years of age with independent source of regular income are eligible for finance under housing loan scheme

• 21 years

• 19 years

• 20 years

• None of these

Answer explanation

reimbursement from own sources, borrowings from friends/ relatives, employer

2. How many form 16 or ITRs needs to be obtained in case of salaried applicants of a home loan?

• Last two financial years

• Last three financial years

• Last one financial year

• Not required

What is the procedure for arriving NAI for businessmen/professionals/self employed?

• NAI of latest ITR

• Highest NAI among last 3 ITRs

• Lowest NAI among last 3 ITRS

• Average of last 3 ITRs

4. In case of self-employed how many latest ITRs need to be obtained for a home loan?

• Last 3 Financial Years

• Last 2 Financial Years

• Last one Financial Year

• Last 4 Financial Years

  edars

What is the EMI/ NMI ratio applicable for the non salaried applicants of Home laon having NAI of above Rs. 10 lac and with CIBIL score of 750 and above

• 60%

• 70%

• 75%

• 65%

What is the EMI/NMI ratio applicable for the home loan applicants having NAI of up to Rs. 8 lac to ,<=Rs. 10 lakh

• 50%

• 60%

• 65%

• 70%

What is the LTV ratio for a home loan of Rs. 75 lac?

• 80%

• 75%

• 90%

• None of the above

What is the validity of sanction in case of Home Loans?

• 3 months from the date of documentation

• 3 months from the date of application

• 3 months from the date of sanction

• 3 months

What is the maximum permissible moratorium period available in our Home loans inn confirmity with authority structure for this purpose?

• 18 months

• 24 months

• 36 months

• 48 months

Maximum loan for repairs/renovations is.........

• 5 lacs

• 15 lac

• 8 lac

• None of these