Here’s how banks determine your home loan eligibility - PowerPoint PPT Presentation

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Here’s how banks determine your home loan eligibility


If you are interested in knowing the Internal operations of a bank while it processes your loan, you need to understand a few things. When an application for an online home loan is submitted, the banks will look into various eligibility criteria and factors using all the documents and identification numbers. It is based on these factors that the loan application is either approved or rejected. There are various factors that a bank will look upon, to decide on your loan application. Knowing this, you will have an idea about the things that you need to work on to increase the chances of approval. – PowerPoint PPT presentation

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Title: Here’s how banks determine your home loan eligibility

Heres how banks determine your home loan
The Basics of Home Loan
  • A home loan is a type of loan that is
    specifically taken to purchase a home. It is not
    flexible for any other expenses. The one-time
    disbursement comes with a flexible repayment
    structure. The total loan amount along with the
    rate of interest is paid in equal monthly
    installments. This makes the loan repayment easy
    and hassle-free. A home loan is a valuable loan
    and needs a lot of eligibility criteria to be
    maintained. To avoid risks, the banks will make
    sure that you are capable of repaying the amount
    within the tenure.

What are the things considered by every bank?
  • The property The property that you are
    interested in will matter a lot. If the property
    is of good value, at the right location, or by a
    reputed builder, the eligibility criteria process
    will be easy. This is because in case of your
    default, the banks will be able to recover the
    entire amount from the property.

Credit score
  • A credit score is the most essential factor that
    needs to be considered. If you have a good credit
    score your eligibility criteria will be
    fulfilled. It will be easy for you to settle up
    with a good loan option as the loan provider will
    take this into account. A credit score will be
    taken into account to get approval or rejection.

  • Your income from the bank account and cash flow
    statement will be depicted. You need to work on
    your income because the banks will check your
    credit background. The income will play a vital
    role in deciding the result of your loan

Clix Capital Services Private Limited
  • Address 4th Floor, Kailash Building, Kasturba
    Gandhi Marg, Connaught Place, New Delhi-110001
  • Call us 1800 200 9898
  • Email us
  • Website

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