6 Tips to get a Home Loan in India

creditnation -Be Credit Smart.. 6 TIPS FOR GETTING A HOME LOAN A Fast track your mortgage application with these 6 excellent tips 1. Proof of income Provide v Payslip Employment Details Recent tax returns As a general rule, lenders like to see that your home loan repayments won't exceed 30% to 35% of your gross monthly income. 2. Slash your debts Reduce your outstanding debts. This includes any credit card and/or car loan debt. 3. Save Save Save A 20% deposit will help you avoid paying Lenders Mortgage Insurance. 4. Find a guarantor A guarantor, such as a parent, can financially support your loan application by securing it against their home. 5. Prove repayment history Prove that you can make consistent repayments. Supply bank statements or a repayment history of a loan - such as a car loan - that you have 11 12 10 9. had previously. This will reassure the lender that you are capable of constant payments. 6. Minimise loan applications LIMIT Keep your loan applications to a minimum. Previous loan knockbacks can leave a mark on your credit history. +91-11-4285 4285 www.creditnation.in creditnation supportſacreditnation.in 000