Pros and cons of taking a joint home loan with a sibling
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Last Updated: Jun 07, 2021, 06:30 AM IST
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Synopsis
As the name implies, a joint home loan is a loan that you take with another person, usually a spouse or a sibling. Chances of getting a home loan at attractive interest rates are much higher in a joint home loan compared to the regular one.
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As per the income tax regulations, a joint home loan will allow both the co-borrowers to claim tax benefits under Section 80C.
Priya has realised that buying a house isn’t easy in a metro like Delhi, where she has been working with a famous design house for the past seven years. She hails from a small town and has always dreamt of having a house of her own in the city, not too far away from her workplace.
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