How Much Home Loan Can You Get with a 650 Credit Score?

A home loan is a great form of financial assistance for first time borrowers. But before you apply, know the prerequisites:

Why do Financial Institutions Check the CIBIL Score?

CIBIL Score helps financial institutions check the repayment capacity of the applicant.

Why Do you Need a Good Credit Score?

A high CIBIL score will help you get better interest rates and a bigger loan amount approval.

Is 650 a Good Credit Score?

Yes, it is a decent score. PNB Housing has a minimum CIBIL score requirement of 611 for Home Loan approval.

Terms for a Home Loan with a 650 Credit Score

The Home Loan interest rate for salaried employees is 9.75%-10.25%, and for self-employed applicants, it is 10.15%-10.65%.

How to Improve Your CIBIL Score for Better Loan Terms?

1. Pay bills on time
2. Try and pay off your debt
3. Ensure you have a good mix of credit
4. Update your CIBIL score regularly
5. Reduce your debt-to-income ratio

How Much Home Loan Amount you’re Eligible For?