can i take a home loan before i select a property?



I want to take a home loan from bank, but have not yet finalised my property. Is it possible to get a property loan? When will the entire amount get sanctioned?

can i take a home loan before i select a property?
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7 Replies to “can i take a home loan before i select a property?”


  1. yes you can passed your home loan from SBI or other bank, but loan amount when come in your account then registry of property is complete.


  2. NO YOU CANNOT TAKE HOME LOAN

    BANK WILL SANCTION LOAN ON WORTH OF THE LAND AND CONSTRUCTION

    TO TRY PERSONAL LOAN OR HOME LOANS TRY BELOW LINK


  3. You can start the loan process with the bank but I don’t believe that you will get approved until the bank is informed about the property you want to loan for. The reasons as explained above comment.


  4. The bank can “pre-approve’ you for a loan of a certain amount based on your income and your debt to income ratio and employment/credit history.

    But.. the home loan is made against a particular property. The bank will have an appraiser decide what the house is worth, and then tell you the max. they will lend for that property…to a qualified buyer.

    So.. you can get the bank to do the approval for you…but, you must have a specific property that you have under contract (meaning you made a binding offer for it). The bank isn’t going to waste their time and money till they see you have made the ‘Purchase and Sale” agreement first.


  5. You can get an in principal sanction before selecting a property based on your financial capacity and other papers.

    But disbursement will be made only after your fixing a property. There is a time limit to select a property. If delayed in fixing property, the sanction will lapse and you have apply afresh.






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