Home Loans

It is generally advisable to have a credit score of 750 or above to qualify for home loan. The higher your score, the better are your chances of your application being approved.As a first step, lenders typically look for a minimum credit score of 750 before deciding whether to go ahead with processing your application.Banks and other lenders will also look at your Credit Information Report (CIR), commonly referred to as a

Following is a list of documents which are typically required. Additional documents might be requested for as per your credit profile and your lender.For the Salaried• Proof of Identity and Address - Passport or Voter's ID card / Driving License / Job Card issued by NREGA / Adhaar Card / PAN card (PAN Card only as identity proof) / any other document as acceptable to the Bank• Proof of income - Latest 3 Months salary slip showing

When a bank or NBFC lends a customer money for the purpose of buying or building a house, it is known as a home loan. The property purchased / built is held by the lender as security till the entire loan amount along with interest is repaid. Only on repayment of the full loan amount including the interest, will the lender release the property title to the customer.

Different lenders have different eligibility requirements. You can check your eligibility for home loan by using the lender’s home loan eligibility calculator online. You need to demonstrate a stable income and employment history. Additionally, you also need to satisfy the age criteria.

There are a lot of resources available online. Almost all lenders provide instant eligibility approval online or online eligibility calculators. You can use them to check what kind of loan you qualify for.  The online eligibility check is based primarily on your age, income and employment status.

It is important to do research on the best loan offer and interest rates, given the many options on the market.Make sure you have a good credit score before you apply for a home loan, to avoid rejection.Do not choose a home that is too expensive for your level of income, banks might turn down your application.Try and pay off any outstanding loans that you have – lenders might not be willing to give you cred

Taking a home loan can be a time-consuming and stressful decision. But here are some tips on how to make it a smoother, less anxious process:• Make sure your credit score is at least 750 and above. The higher the score, higher the chances of approval.• If your credit score is low, do not apply for a loan since you might be offered unfavourable terms. Instead, work on raising it to the desired number. T

Before applying for a home loan, you need to choose the home loan offer best suited to your budget and needs. Once you have finished with the research, you can apply online with your chosen lender. You can also walk in to the nearest branch of your lender and apply along with all the required documents. You can even track the status of your application online as well, although it varies from lender to lender.If you want guidance w

You can download the application form available on their website, fill the form and go in person to the nearest branch along with all the required documents. Alternatively, you can also call their customer care for help with your application process. You can also apply online or request a callback.

You can use CreditMantri’s online home loan EMI calculator in order to calculate your home loan interest amount. All you have to do is to input the loan amount, the interest rate and the tenure of the loan, and the calculator does the rest.It presents you with the EMI amount to be paid, as well as an Amortization Table which gives you a clear picture of the payment structure and schedule. The table gives an ac

In order to be eligible for a home loan, you need to be• A Salaried individual, or• A self-employed individual/ professional.You must qualify in terms of the minimum age and income requirements of the lender and be able to demonstrate a stable income. Different lenders have different eligibility requirements. Most of the lenders have online eligibility calculators on their website, which you c

Calculating your Home Loan EMI is the most important aspect of any loan. You won’t know what your exact financial outflow will be unless and until you have calculated it for yourself accurately. Using an online home loan EMI calculator will help you determine how much each loan will cost you.You can use CreditMantri’s online Home loan EMI calculator in order to plan your finances and determine exactly ho

Home loans are one of the most popular financial products in India.Before applying for a home loan, be absolutely sure of these things – that you have a good credit score, your finances are well planned for repayment, and interest rates/loan offers thoroughly researched.  Go through the fine print on the terms and conditions of every loan offer. Compare the features and benefits to determine which home loan of