Tips to Apply for a Home Loan for Doctors - Loan Trivia


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Wednesday 25 April 2018

Tips to Apply for a Home Loan for Doctors

It is normal that you will apply for a home loan to purchase your dream home. If you are a doctor, you can avail many extra benefits that you may not get as a normal applicant. But, before you apply for a home loan for doctors, you must be careful about certain factors.

Tips for a home loan for doctors:

Maintain a good CIBIL score- An applicant or a doctor must have a good credit score of above 750 to get a home loan at a lower interest rate. If the credit history is good, automatically your credit score will improve. A good credit score will help to get a lower interest rate. You can negotiate with the lender.

Fixed vs floating interest rate- It is better to do some research regarding what type of interest rate you are selecting. A floating interest rate may be lesser than the fixed one, but it will fluctuate as per market conditions. A fixed rate of interest will be a little high, but you can set your budget properly.

Here is an example of a doctor, Dr. Ankita Metkar. She is a medical professional with 5 years of experience, who decided to purchase a new home with the help of a home loan. She literally had no idea about the details and consequences of a home loan just like you, until her friend recommends these useful tips regarding a home loan to her.

There are many more useful tips for a home loan. To know them, read:

Things to Consider Before Availing a Home Loan for Doctors

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