Your current income.
The nature and continuity of your employment.
Your current obligations i.e. the other installments (EMIs) you are currently paying, the number of credit cards and credit limits you have or use.
Your past credit history.
You can start the process of applying for a Home Loan in any of the following ways:
Compare offers from different banks
Check your eligibility basis the income and current loans being serviced
Apply online with multiple banks, to assess the best & competitive loan offers
Among the multiple factors that a Bank considers in determining Home Loan eligibility are:
Income of all applicants.
Age of the primary applicant
Number of dependents that the applicants have to support.
Assets and liabilities of the applicants
Stability and continuity of the primary applicant's occupation.
Yes! You can avail of a Home Loan for any of the following:
Purchase of a home.
Construction of a home.
Offers of Fixed and Floating rates as explained below:
Fixed Home Loan rates: The rate of interest applicable for the Home Loan is fixed throughout the term of repayment of Loan.
Floating Home Loan rates: The rate of interest applicable for the Home Loan changes with change in the Bank's Base rate.