Home Loan Tips

#1 Pay Your Bills

  • It is very important that you always pay your bills on time and never miss a payment.
  • be sure you are current on all your payments and have been making them regularly for some time before you apply for a home loan.

#2 Employment History

  • if you have been in the same job for a year and a half and are considering quitting or changing jobs, but are also looking at buying a house, wait until your home loan is approved before you make any changes. Once you have your home loan, you can make any changes.

#3 Pay Debt Down

  • If you really want to be approved for a home loan then you need to make sure you pay off as many debts as possible in order to look favorable to the home loan lenders. A home loan is approved for individuals who have a low debt to income ratio.

#4 Savings

  • Before applying for a home loan, make sure you have saved at least 20% of the down payment and also have enough money to cover several months of your home loan payment.

Above home Loan tips are really helpful to everyone.

Home loan Approved

Eligibility criteria to avail a Home Loan

Use the interactive home loan calculator to calculate your home loan EMI. Get all details on interest payable and tenure using the housing loan calculator

Here are few aspects regarding your eligibility for housing finance:


The age of the applicant plays a decisive role in qualifying for the loan amount. It is relatively proven if you’re younger and have fewer responsibilities then you qualify for a higher loan amount at lower interest rates costs.

Credit Score

It is important you have a good credit score rating to avail any form of a loan. Before, lending finances banks have a background check of your credit history through a Credit Information Company like CIBIL (Credit Information Bureau India Ltd.) and go through your repayment track record.

Existing Liabilities

It refers to any other loan being currently repaid by you. Housing finance companies and banks operate as such that if you’re paying any other loan, then your ability to repay an additional loan will be adversely affected. You may not pay extra towards a home loan and clear the debt as soon as possible.

Income Level and Number of Dependents

A high net monthly income may incorporate your spouse’s income as well as indicative of an ability to pay a higher monthly installment and better chances of timely repayment of your loan amount.

EMI Calculation

Calculating monthly EMI is now at the touch of the button on your computers, laptops, or smartphone devices. All you need is just mention the loan amount, interest rate preferred, and loan tenure and it will display you exactly how much monthly payment you’ll be paying.

Thus, after every successful monthly installment payment to the finance company or bank, you will get an inch closer to clear your debt and own your dream forever.

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