Does the loan-to-value ratio vary between lenders?

Yes, loan-to-value (LTV) ratios often vary between different financial institutions in India. LTV ratios represent the maximum percentage of the property value that a loan provider will finance with a home loan. Most loan providers have general LTV guidelines, but specific requirements can differ.

For conventional home loans, many financial institutions may limit LTV ratios for first-time borrowers who cannot make a 20% downpayment. However, some may permit higher LTVs.

Government-backed schemes like PMAY may have different LTV criteria. Subsidised loans from Housing Finance Companies (HFCs) may permit higher LTV financing as well.

The minimum down payment, credit score requirements, debt-to-income ratios, and loan fees can vary significantly between public sector banks, private banks, NBFCs and HFCs in India.