You must be wondering whether it is even possible to avail a second home loan. There are certain things you should know when attaining a second home loan to ensure it are as easy and advantageous as the first one. there is also tax benefits on second home loan.

1. CAN I GET SECOND
HOME LOAN
EMAIL : homeloans@regrob.co.in
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2. HOME LOAN
A sum of money borrowed from a financial institution or bank to
purchase a house. Home loans consist of an adjustable or fixed
interest rate and payment terms.
There are different types of home loans available in the market to
cater borrower’s different needs.
Home Purchase Loan
Home Improvement Loan
Home Extension Loan
Home Conversion Loan
Home Construction Loan
Land Purchase Loan
Bridge Loan

3. YES, You can get a second
home loan.
But, it depends on your
eligibility like your credit
history and your power of
repay.

4. You are eligible. Banks are concerned with
safety of their loan and your ability to repay.
So as long as their verification establishes
that the loan is in good hands and is likely to
be repaid then you will be eligible. It all
depends on your credit history and your
lender.

5. Banks finance up to 75% of the value of the
house, if the loan amount is above 75 Lacs
then they may reduce this percentage for
the second Home Loan.There may be a
possibility of a higher interest rate for your
second home loan from some lending
partners.

6. Tax benefit on loan reimbursement of
second house will be restricted to Rs 2
lakh per annum. As per the proposal, the
owner can set off of loss towards second
home against other heads of income up
to Rs 2 lakh under Section 71 of the
Income Tax Act.
Tax benefits on second
home loan

7. The income tax act says that those who
own more than one property must treat
one of them as rented property.
Basically only one property can be
treated as self-occupied and others
have to be assumed to be rented.

8. thank you
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