New Delhi, Sept. 24 -- Buying your first home often means balancing a large upfront cost with a long-term EMI commitment. For couples, taking a joint home loan can increase the amount they are eligible to borrow because the lender considers both spouses' incomes. However, a larger eligible loan does not necessarily mean that taking on a larger debt is the right choice.

Reader's question: My spouse and I are considering a joint home loan for our first house. How does a joint loan improve eligibility, and what are the key benefits? What else should we know before opting for one?

Pankaj Gadgil, MD & CEO, Aditya Birla Housing Finance , explains that a joint home loan can make buying a first home more manageable because the lender considers ...