How to Apply for a Home Loan a Second Time

Money in bank in 24 hours

Apply now

How to Apply for a Home Loan a Second Time

  • Highlights

  • Applying for a second home loan is easier than you’d think

  • Ask your existing lender for a better rate of interest

  • Make sure your debt to income ratio doesn’t cross 50

  • Check your eligibility criteria and use a home loan EMI calculator

If you opt for a home loan for a second property that you are likely to lease, you stand to gain from tax benefits both on the rental income, as well as on the interest paid towards the loan. Depending on your previous home loan’s status, here’s what to expect.

You’re still repaying your first home loan

1) If you’re still making payments towards your first home loan, you’ll find that the application process for the second home loan won’t differ vastly.
2) In fact, it makes more financial sense to approach your existing lender. You will get a loan on a pre-approved basis. Also, if you’ve been making payments regularly, you can attempt negotiating a better rate of interest as well.
3) As long as your debt to income ratio doesn’t cross 50, you’ll be able to get a second home loan with ease.


You have already repaid your first loan

1) In this case, you can shop around to find a home loan that offers the best rate of interest and benefits.
2) Check your eligibility criteria and use an Home Loan EMI calculator to ensure that your choice of loan is the most affordable for you.

Things to know about Balance Transfer

3) Fill in the form, submit the necessary documents and await approval of the loan.
4) In case you share a good relationship with your previous lender, see if you can use this to your advantage to wager a better rate of interest.

Apply for Home Loan

Pre-Approved Offer

Please enter your first name
Please enter your last name
Please enter 10 digit mobile number

I authorize Bajaj Finserv representative to call /SMS towards this application and other products/services. This consent overrides my registration for DNC/NDNC. T&C

PRODUCT GUIDANCE

How to manage the burden of several home loan repayments

PRODUCT GUIDANCE

How does a home loan balance transfer work?

PRODUCT GUIDANCE

How to get your home loan quicker with Bajaj Finserv

How would you rate this article

 Please let us know why?

What did you dislike?

What did you dislike?

What did you like?

What did you like?

What did you like?

Next up

PRODUCT GUIDANCE

When should you do a home loan balance transfer?

Recommended videos

Six Things to Remember Before Taking a Home Loan

PRODUCT GUIDANCE

Documents Required for Home Loan

PRODUCT GUIDANCE

When Should You Go For a Top-Up Loan?

PRODUCT GUIDANCE

How Home Loan Balance Transfer Helps you Save Money

PRODUCT GUIDANCE

Fixed or Floating Interest Rate | Which is Ideal for your Home Loan