New Delhi, Sept. 23 -- Buying another house while repaying your first home loan is possible in India. There is no restriction on you taking out one home loan. However, every additional loan needs approval from the lender.

You can approach your existing lender or apply elsewhere. The decision depends on whether you can comfortably repay all your loans.

Lenders examine your salary, existing EMIs, credit history and other financial commitments. They also consider your age, job stability and the property being purchased.

Nupoor Pradhan QPFP(R)️, Deputy Relationship Manager, A D Naik Wealth, suggests asking yourself 3 questions to decide whether you should take a second home loan.

Ask:

1. If my income stopped for 12 months, could I...