A young married couple dreams of having their own home. And, if they belong to DINK (double income, no kids) group, the chances are that they are already on their way to become homeowners with the help of home loans. Buying a home is by no means an easy task, but easy availability of home loans is encouraging thousands of couples to start thinking of the unthinkable – homeowners by the time they turn 40. However, the mathematics of home loans is not that simple and straightforward. Many people are unclear on how to do it; what are the tax implications; can joint ownership help or whether a joint loan is needed? Well, I think answers to these questions if given here will benefit millions of people. So, let us begin. If you opt for joint home loans, both will have an advantage of maximising the tax relief. Both will be able to claim exemptions on the principal amount and the interest payable on home loan. However, the banks require that all co-owners of a home must be the co-borrowers also. Vice versa, it is not mandatory. So, first decide whether you want a property in joint name or as a single owner and act accordingly. Hold on, there is one more twist which you can’t afford to miss. It is necessary for the co-borrowers to be the co-owners also to become eligible for tax rebate.