The things we consider before selecting a Home Loan companies
The amount of home loan that you will be eligible to get will depend on certain factors such as your income, age, credit score, tenure of loan etc.
RATE OF INTEREST
If you are approaching a bank for a home loan, the home loan interest offered will be linked to an external benchmark.
IMPACT OF CREDIT SCORE
Your Credit Profile plays an important role and allows lenders to offer a lower rate of interest to you.
Most lenders will lend 80 per cent to 90 per cent of the value of the home that you wish to buy.
The documentary proof regarding your income will vary depending on whether you are a salaried, professional, or a businessman. Among others, for salaried borrowers lenders will ask for Form 16 or ITR for the last 3 years, bank statement etc.