**Initial monthly repayment figures are estimates only, based on the advertised rate, loan amount and term entered. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.
The value is based on Equated Monthly Installment (EMI)
The values shown above are estimates only. The interest rate applied for the above calculation is the 5 year fixed housing loan interest rate and is subject to the assignment of salary to the bank. The final interest rate will be determined by the bank upon receipt of your supporting documents and evaluation.
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Know what question the users frequently asks about Home Loan and Calculator
A home loan or a mortgage is a type of loan (monetary advance) offered to a buyer for buying a residential property. The home buyer is responsible for paying the loan back to the financial institution on an instalments basis. Typically, the property purchased using the loan is considered as collateral (security) in an event where the homebuyer is unable to pay the loan back.
Salaried employees or freelance individuals above the age of 18 with a minimum regular monthly income of LKR 25,000 are eligible to apply for a housing loan in Sri Lanka. However, the minimum monthly income may vary depending on the bank that is selected.
Those between 18-60 are eligible to apply for a home loan
Depending on your age the repayment period could be extended up to 25 years.
Duly filled loan application form, along with the following documents should be submitted to the loan granting institution.
Consent of the vendor indicating the selling price( Only for purchase of land or residential property ).
Income supporting documents,
In case of other income if applicable
Local Authority certificates (Issued within the last three months).
In case purchase of a residential property or construct a house:
The housing loan interest rate can vary between 5% to 16% depending on the institute offering the loan and the type of loan.
A housing loan guarantee can be obtained from EPF in order to take a housing loan from the following lending institutions :
The minimum down payment for a housing loan ranges from 20%- 40% of the total amount.
The monthly instalment of the loan should not exceed 40% and the total deduction should not exceed 60% of the total monthly income of the borrower.
You should be a Sri Lankan employed abroad and in a position to service such loans in foreign currency.
Should have been continuously employed overseas for a minimum period of 2 years and have a contract for future employment for a minimum period of 1 year.
BOC Housing loan for university staff
Commercial bank housing loan for professionals