Home loan eligibility is defined as the maximum amount of loan amount that a person can get a from a bank or any other financial institutions. A home loan makes it financially comfortable for ones to own his dream home, apartments in Calicut. Once you apply for a home loan, the lender ensure whether the applicant meets all the eligibility criteria for the home loan.
Here are the key factors which affect your home loan eligibility
1. Stability of income
Income of the applicant is the prime factor in determining the home loan eligibility of the loan applicant. Higher the income, higher the chance of getting the home loan.
2. Profession or nature of the business
The lender always looks for an applicant who has a stable income.
3. Age
The age of the loan applicant determines the number of earning years left with him for the repayment of the loan. Farther you from your retirement higher the chance of getting the approval of the home loan.
4. Credit Score
Before approving your home loan, the lender will definitely check your credit score to assess your credit behaviour & reliability as a borrower.
5. Attributes of the property
The lender checks the attributes of the property before granting the home loan.
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Call us at +91 9400470022 for more information
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