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There are many good reasons why Kolkata is known as the city of joy. One of them is the fact that your dream of owning a home where you won’t pay rent any more is not a far fetched one. Apartments in Kolkata are affordable especially for anyone who has a monthly income. You can always get something that is available at your salary bracket and, as such, it is time to stop procrastinating and get seriously thinking about owning residential property in Kolkata. Research shows that there are more than 6000 jobs that are available in Kolkata and most of these jobs are at a range where getting a bank loan to buy a home will not be a big hassle. Any person with a monthly income of about Rs 33,000 is within the salary range of those who can easily invest in flats in Kolkata. Different banks have their own limits when it comes to mortgage but in most cases, you are likely to get 5 to 10 times your annual income. You can easily predict what you are likely to get by deducting all your monthly expenses so you can get your loan re-paying capacity. Your potential lender will calculate your capacity to repay and once they are comfortable, they will agree with you on a figure for the total amount they will be comfortable to loan you. In most cases, lenders will expect that you are in a position to pay between 15 to 20 percent of the purchase price as a down payment. That means that they will normally give you the remaining 80-85 percent of the price for you to complete the transaction. The interest rate for home loans is currently about 10.15 percent on average and with loan tenures being about 20 years; this is the best time for any aspiring home owner to buy an apartment in Kolkata. Your eligibility to affording a home loan so you can invest in real estate Kolkata or the maximum amount that you can avail will be determined by several important factors. Some of those important considerations that the mortgage lender will look at include your age, you other financial obligations as well as your remaining years of employment. Having other loans definitely reduces the amount of money you are going to qualify for and, as such, if you are able to reduce your fixed financial obligations considerably, you are likely to qualify for a higher amount of mortgage. The amount of mortgage you qualify for will be a great determinant to the areas where you can afford to own a home.
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Apartment in Kolkata, Flats in Kolkata, residential project in Kolkata, Real Estate Kolkata,
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