Home loans are available from DHFL for the purchase of a new or a resale of property, for the construction of a house, and for the extension and remodeling of an existing home. Borrowers can achieve their dream of owning a home with DHFL home loans at reasonable interest rates. They also have other advantages, such as minimal processing fees and a long repayment period.

Your credit score, employment type and income, age, and repayment capacity determine your DHFL Home Loan eligibility. You can borrow up to 80% of the property value, depending on your income and repayment capabilities. If you want a higher loan amount, these tips can help you: 

  1. Achieve and maintain a credit score above 750: Your credit score plays an important role in your DHFL Home Loan eligibility. Check your latest credit score to ensure that it is at 750 or at least above 700. If it is low, take the necessary steps to improve your credit score. Check here for tips to improve your credit score. 
  2. Pay off all your existing loans: Having a good repayment history improves your chances of getting a good home loan from DHFL. Make a note of all your existing loans and credit card dues and pay them off before you apply for a DHFL home loan. 
  3. Add a co-applicant with a stable income: You can add your parents, siblings or spouse as a co-applicant on your DHFL home loan application. The added income will increase your home loan eligibility. 
  4. Go for a longer tenure: DHFL offers you a repayment tenure of up to 25 years. Longer tenure means lower EMI. You will be able to make the EMI payments comfortably. So choose a longer repayment tenure to improve your home loan eligibility. 

Also Read: 10 Do’s Don’ts While Applying For A Home Loan Online

A Home Loan is a long time commitment. You need to make the payments regularly to ensure that you don’t end up with interest charges and other penalties. Once you get the loan, try and make part payments to reduce your overall interest burden. Be prudent with your debt management to avoid falling into a debt trap.