6 Replies to “I am a retired person. My present source of income is my pension. Can I get home loan on my existing house?”

  1. you can get loan by mortgaging your kolkatta home with only condition the bank will have to satisfy how will you repay your monthly EMI. you should have enough sources of income to repay the loan


  2. Yes, you can. Pension is considered income. It will also depend on how much your pension is per year, your current debt and credit score.


  3. Yes you can; the better option however would be to go in for a Reverse Mortgage Loan for which no compulsion is there for investing for a new construction or repair as would be the case for a Housing Loan. Further the quantum of housing loan will be limited to a certain percentage of your estimated expenses on new construction/repairs and subject to your earnings and repayment capacity. For Reverse Mortgage Loan there is no such conditions…



  4. sir, I got my retirement recently and my pension will be round about 15000/-, My wife is serving as Govt. School teacher and her pay is 40000/-approx., and I am getting rent from my present house 9000/-P.M. Can I get the loan against my property. I m in a need of Rs.1500000/- to purchase another house I have finished my housing loan witch I had taken from LIC HFL

    1. It’s not recommended to take loan after retirement just to buy another house. You should not create any new liability for yourself and for your family members. Still, you can approach banks to get loan against property. But thing again.
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