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
CHECK YOUR HOME LOAN ELIGIBILITY
How Much Home Loan Amount you’re Eligible For?