Can I increase or decrease the amount of home loan after it is sanctioned? What about the fees?
Yes. You can request an increase or decrease on your home loan amount at any point. Any increase in the housing loan amount is subject to eligibility calculations. Most banks charge you fees on the new amount. In case your loan amount gets reduced later, any excess fees paid gets adjusted towards subsequent payments that you would be making to the bank. However, as per legal terms and conditions, the fee paid is non-refundable and thus, a bank may refuse to adjust the excess fee paid on this account.