Your eligibility will be better if you go for a joint Home Loan. You could consider having your spouse as the primary borrower. This will help you get concessional interest rates for your Home Loan. Many banks offer concessional interest rates for Home Loans if the primary borrower is a woman. These banks include State Bank of India, ICICI Bank and Axis Bank. The interest rates are about 0.5%-0.75% below the regular rates. The other terms such as the repayment period and the processing fee may also be lower than that of a regular Home Loan. If you go for a joint Home Loan, both of you can claim tax benefits in the proportion in which you own the home.
If your bank offers to finance 90% of your loan, you will need to make a down-payment of Rs. 2 lakhs. It suggest that you check with the bank for the details when you apply for the loan.
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