Smart Tips to Increase Your Home Loan Eligibility Quickly
First, what determines your home loan eligibility?
–> Credit history
–> Pre-existing debt, etc.
Home loan eligibility depends on your:
Discover What You Can Do to Enhance Your Home Loan Eligibility
Improve Your Credit Score
Boost your credit score by paying all your credit card bills and EMIs on time.
Get a Co-applicant
Apply for a loan with an eligible co-borrower, as their income will also be considered while determining eligibility.
Opt for a Longer Tenure
Choosing a longer loan term will increase eligibility. Remember, prepayment is always an option.
Prepay Other Loans
Try closing existing short-term loans or consolidating them into one.
Declare all your incomes
Mention all side incomes like part-time jobs, rents, etc to show a higher repayment capacity.
Read our complete blog on how to increase home loan eligibility