In dilemma if I should close my home loan or not
Hi fellow Redditor’s help me make a decision
Have a home loan of 55L pending and in dilemma If I should close out the loan in next 2 or 3 years or should I keep paying EMI’s
The property is generational wealth and will be split between my elder brother and sister. Since they do not have ITR, loan was took in my name.
Home loan total 65LPA (paying from 2018). House is property in BLR generating rent of 57k per month & everything goes to emi.
I earn around 2.8LPA per month having expense of 1.3L (wife kid & parents dependent on me) with yearly bonus of 6L after tax. Brother makes enough to sustain his own expense and sister is married
If I pay the home loan I can convince to take complete rent for next 10 years and later split it between 3 but my question is should I do it or let rents payout emi & I build my corpus? Have 2 lakhs in savings, 20L in PF and gold of 300 gms (including wife & mine combined and not SGB).
Posted May 4, 2025, 4:42 PM UTC