u/Hungry_for_wisdom

Sanctioned Loan Amount - 2.6 crore

Disbursed Loan Amount - 2.0 crores

Outstanding Loan Amount - 1.7 crores

Total Home Price - 3.2 crores

Interest Rate - 7.25%

Tenure - 30 years

Pre EMI period - 2028 or delivery, whichever is earlier

Current Savings - 60L

Combined Household CTC - 90L

In-hand pay - 65-70L

How would you go about working on this loan?

Should I sell my investments and focus on getting the loan down to 1.4-1.5 crore or should I remain at this level

Me (32M) and wife (30F) have a house booked in Mumbai. The delivery date is late 2027. Combined household CTC - 90L. In-hand is about 70L.

House Price - 3.2 crores.

Downpayment of 60L

Have taken a loan of 2.6 crores. Paid down 30L.

Current loan amount - 1.7 crores. 60L demand is left from builder end.

Current savings - 60L.

I am thinking of bringing down loan amount by a further 30-40L over the next 1-2 years. Once the loan gets down to a manageable 1.6-1.8 crore range, I seek to stop making large downpayments, have a 2 year EMI corpus and invest the balance in equity.

Is it a good plan?