Joint Home Loans- Affordable Way to Achieve Your Dream House

Generally, unmarried living together couples, sisters and friends cannot avail such joint home loans provided by banks.

Sejal Patel, financial planner, Bonanza Portfolio cited that, "Friends, sisters or unmarried couples can be a co-owner of a property but they cannot be a co-borrower in a housing loan," reports Business Today.

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2) Requisite documents to apply such loan                

Both co-borrowers have to submit the requisite documents when applying for joint home loan and the list of documents will be provided by bank itself. However, each bank has their own set of guidelines and list. It is always better to check with your bank about the list of documents you are required to submit. Usually, the list are classified mainly into five categories that include identity proof, age proof, address proof, property-related documents and income proof.

Also Read: Now Show Your Credit History to Rent a House