Home Loan Eligibility Criteria and How to Go About It - Loan Trivia


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Tuesday 31 July 2018

Home Loan Eligibility Criteria and How to Go About It

“No matter how much you read or know, you always miss out on something.” These lines are very much valid even when it comes to a Home Loan, and the prospects planning to apply for it. No matter how much research you do, you’ll always leave out a thing or two and realize that at the very end. So, here’s an article about how to check Home Loan eligibility and proceed further with your application.

Starting with the very basic question, who is eligible for a Home Loan? Almost everyone with a decent salary enough to qualify the minimum income eligibility criteria is eligible for a Home Loan. Other than that, there are a few more factors that play a very crucial role in Home Loan eligibility:

> The age of the applicant.
> Income stability.
> Employment stability.
> Good credit score along with an equally convincing credit history.

Moving on to the second big question, how to find out if you are eligible for a Home Loan scheme? The lenders dealing in a Home Loan in India also offer Home Loan eligibility calculator which is integrated with a predefined algorithm for accurate results. You can use the calculator and find out if you are eligible for a Home Loan. If yes, you can also find out how much you are eligible to borrow.

In the end, if you have all the documents and you are able to qualify the eligibility criterions of the housing finance scheme - you can find out the online application section and apply for the loan with ease.

Reference Read:
Home Loan: Who is eligible and how will it work?

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