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Yes. Every HFI follows certain eligibility norms for a particular category of self-employed professionals. A HFI takes into consideration the qualifications required by a self-employed professional to work in his/her field and the performance of his/her business in the last 3 financial years. Once these primary checks are done, the HFI decides if the self-employed professional qualifies for the special eligibility norms.

No. At present, no home loan lender in India provides loan to buy properties overseas.

Yes, your co-applicant�s source of income will also be included while calculating your loan eligibility. It is a good idea to show the co-applicant�s income as it will help boost your loan eligibility.

Yes, in such case you can apply for a home loan with almost all banks. But it should be done within 6 months of the purchase of the home/property. Because after 6 months you would be eligible for only a loan against property, and the interest rates for this loan is generally higher than that on a home loan. Also, you will not be able to avail income tax benefits on it like on a home loan.

Financial institutions (FIs) and banks calculate your loan eligibility on the basis of your repayment capacity. They consider your gross monthly income for this purpose. Every bank sets certain norms on the amount of EMI you can afford to pay from your monthly income. The amount of EMI increases with an increase in your pay; it helps you save more.