All About Home Loan
Home Loan by various banks Criteria
The eligibility of getting a home loan depend upon the borrower’s repayment capacity & this repayment capacity is establishes by the bank on considering the various factors such income, spouse income, age, number of dependants qualifications , assets, liabilities, stability and continuity of occupation and savings history. Through our Home Loan Eligibility Calculator you can now check your eligibility for Home Loan.
Increase your Home Loan eligibility:
• Credit History :The chances of getting a home loan for you are increased if your history is good which the banks want to know by checking the CIBIL score of borrower. Now to get a loan is very hard from another bank when a bad debt has already with you with one bank.
• Income is clubbing : Your eligibility will augmented to take a home loan when your income is a club with the income of your spouse, in this case bank will calculate your eligibility the clubbed income on the basis of both the applicants.The incomes of spouse, children & parents will be clubbed staying with you and having a regular income.
• Enhance your loan tenure :The loan tenure is very longer, the EMIs will be lower in which the repayment capacity will be increased further of the borrower & the loan eligibility enhances in turn.
• Step-up Loan: EMIs remain low in this type of loan at the beginning and gradually increase as and when power increases the borrower’s spending. Therefore, in the initial years the lower EMIs enhances the ability of borrower to pay and increases the loan eligibility further.
•The down payment increases : You must know that only 85 to 90% for property in a home loan bank finances and the remaining amount has to be funded through the borrower. The down payment will be increased by you if the required amount have more than which will mitigate your debt considerably.
Leading Home Loan Providers (Click to Apply)