Management Consulting
Home Loans
₹75 Lakh Home Loan Approved for a First-Time Buyer with Student Loans
How WizBiz helped a Hyderabad consultant secure ₹75 lakh home loan despite an education loan, after 3 bank rejections.
Home Loan for First-Time Buyer with Student Loan | Case Study | WizBiz
Home Loan, First-Time Buyer, Student Loan, Hyderabad, SBI, HITEX City
WizBiz Team
Challenge
Arjun Reddy, a 28-year-old management consultant at a Big 4 firm, wanted to buy his first home — a 2-BHK apartment in a premium HITEX City locality in Hyderabad worth ₹85 lakh. He had a good income of ₹22 lakh per annum but faced two challenges: (1) He had an ongoing education loan of ₹8 lakh that impacted his debt-to-income ratio; (2) He could only manage a down payment of ₹10 lakh, requiring a 90% LTV loan. Three banks had rejected his application citing the education loan EMI impact and insufficient down payment for the desired property value.
Solution
Our home loan advisors analysed Arjun's complete financial profile. We: (1) Negotiated a 1-year moratorium on his education loan to reduce the monthly obligation; (2) Guided him on selecting a property in a locality approved by multiple lenders; (3) Prepared a strong income proof package including salary slips, Form 16, and bank statements showing consistent savings; (4) Identified HDFC and SBI as the most suitable lenders for his profile; (5) Helped structure the loan with a co-applicant (his father) to improve eligibility; (6) Negotiated for 85% LTV with a staggered down payment plan.
RESULTS
SBI Home Loans sanctioned ₹75 lakh (88% LTV) at 8.5% p.a. for a 25-year tenure. The loan had a 12-month moratorium on principal repayment. Arjun moved into his dream home in September 2025. The education loan moratorium meant his total monthly EMI burden stayed within 45% of his take-home salary. He also received a tax benefit of ₹2 lakh under Section 24(b) on the home loan interest.
Key Metrics
Loan Amount: ₹75 Lakh
Property Value: ₹85 Lakh
Interest Rate: 8.5% p.a.
Tenure: 25 Years
LTV: 88%
Previous Rejections: 3
Tax Benefit: ₹2 Lakh (Sec 24b)
Testimonial
I was really worried that my education loan would prevent me from buying a home. WizBiz found a way to structure everything perfectly. They negotiated a moratorium on my student loan and got me approved with SBI at a great rate. I'm now a proud homeowner in Hyderabad, thanks to their expert guidance.
