Buying a home need large amount of budget. Home loan
plays an important role in finance for buying a new property.
If you have plan for buying a new home, flats, apartments
etc. If you going for applying loan need to submit so many documents for approving
loan. if you applying for a home loan start formalities for submitting the
documents. So keeping basic documents in hand ready is good for saves time.
Bank should check if you are capable for taking the bank loan. Due to some
reasons your home loan application could get rejected
Address is on the defaulter’s list
This may occur due to you have shifted to a rented
house. If anyone who have credit card dues using this address already. Because
banks will have probably a address stored in their defaulters database. So this
have more chance for rejected application.
Your unpaid dues
One of the major reason for rejection of loan is unpaid
dues. If you have Accumulating credit card dues in history, late EMI payments
will rejected your application. So make all your payments on time is avoid such
problems.
Already have other debts
If you have too many debts it will reduce income of total
salary or monthly income. So new loan will make it difficult for you to repay,
then possible for rejected your loan.
Loan guarantor to a defaulter
If you are be someone’s loan guarantor make sure they
have and pending loan dues. It will also possible for rejected your loan
Jumped too many jobs
Have you jumped too many jobs? Your application got
rejected. Because the bank don’t have trust about jobs.
Type of residential property
The property you have placed as security for taking loan
is not eligible for loan amount to the property have any legal, government approval
issue may rejected your loan.
File your income tax regularly
The bank will check your income tax filing details. If
you are file your income tax regularly don’t reject your rejected your loan.
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