Are you looking for a dream home and wish to apply for the loan with your brother? In this situation, you enjoy the benefit to meet the eligibility criteria of the bank and get the loan approved easily.


When you apply for the home loan with brother, you also enjoy Joint Home Loan Tax Benefit that makes it a better decision over applying for the home loan alone. You can also avail home loan tax benefits for under construction property when you take a home loan for an under-construction property:

How to apply for a home loan together? You can apply for a joint home loan in two ways – either two brothers or even more can apply together. The members applying jointly have shared the responsibility to repay the loan and also enjoy the Joint Home Loan Tax Benefit. On the other hand, one brother can apply for the loan and others can act as a guarantor. Both these options are best and an individual can pick as per their requirement. In order to analyse the loan amount, banks use the income of all the applicants together and analyse their repayment capacity.

In order to apply for a home loan with a sibling, all the similar procedure and terms and conditions are followed as the normal home loan. The credit score of both the applicants are considered and the loan is approved once the verification process is completed. The loan amount in such cases is decided on the total amount of income and not on individual income.

If you are looking for such home loan, Bajaj Finserv provides a pre-approved loan of different kinds. It follows a simple approval procedure and provides hassle-free loans to applicants.
To know all the tax benefits for House Loan? in detail, read this quora answer: