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Consult experts and friends who have moved into a new house when trying to determine what you can afford. They know many of the costs associated with moving and financing, and can point out any unexpected costs.
Buying a home?
Do you have a plan?

While buying a home of one’s own is a cherished dream for most of us, it is a lifetime decision involving a large investment. You need to plan carefully before you take the final decision of buying your dream home.

Know your eligibility
First and foremost, you need to know if you are eligible for a Loan. ICICI Home Finance offers Home Loans to Resident as well as Non - Resident Indians. Know more
You must be at least 21 years of age when the loan is sanctioned
The loan must terminate before or when you turn 65 years of age or age of retirement, whichever is earlier
You must be salaried or self-employed with a regular source of income
Minimum age of co-applicant should be 18 years
Loan amount eligibility

Once you have determined your eligibility, the 2nd step is to understand what loan amount you are eligible for.

You can even enhance your eligibility by having a co-applicant. Know more

ICICI Home Finance gives loan up to almost 80% of the cost of property (Agreement value + Stamp Duty + Registration charges) or the cost of construction as applicable.
If your spouse is an earning member, you can make him/ her a co-applicant. Their income will be considered to enhance the eligibility
In case of co-owners, they must necessarily be co-applicants
Calculating your EMI

Now that you know about how much loan you are eligible for, you need to match the same with your affordability and ensure that post your monthly expenditure & outflow, you have the required disposable income to pay your EMIs.

To calculate your EMI, click here
Plan for future expenses

ICICI Home Finance offers Home Loans up to 20 years. Since, Home Loan is a long - term liability, you must try and account for future liabilities also. You also need to plan ahead and budget for some expenditure as soon as you move into a new house for interiors, fitting & furniture etc.

Remember that this basic financial planning is very helpful before you start searching. It can save you a lot of time and money and help you fulfill your cherished dreams without any future burdens.
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