Neutral impactSector
Planning a joint home loan with your spouse? Know how it affects eligibility, tax benefits, EMI and repayment
Mint 1 hr ago·24 Sept 2026, 9:22 am
Taking a joint home loan with your spouse allows both borrowers to combine their incomes, which can significantly increase the amount you are eligible to borrow. This shared responsibility also means the total EMI is split between the two, making monthly payments more manageable. Additionally, both borrowers can claim tax deductions on the principal and interest components of the loan, subject to the existing limits.
However, lenders assess the repayment capacity of both applicants, so a higher combined income does not necessarily mean you should borrow the maximum. It is crucial to ensure the total monthly outflow remains affordable. Investors should monitor interest rate trends and their own cash flow to decide on the optimal loan tenure and amount, ensuring long-term financial stability.
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