Check Your Home Loan Eligibility
Every Lender/bank have different eligibility criteria. These can be classified into the following :
Monthly Income
For both salaried and self employed individuals, the net monthly income plays a major role for the banks to assess the maximum loan amount, they can disburse.
Property Aspect
Banks have to follow a process of analyzing and inspecting the property on parameters such as, builder reputation, age of the property, location of the property, title search.
Credit History
The credit repayment behavior of an individual plays an important role in deciding the loan eligibility. Banks refer to CIBIL, to check the repayment behaviour of an individual on all loan transactions.
Age
Age plays a major role in deciding the tenure and loan EMI.
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