The document provides tips to ensure home loan eligibility. It recommends improving your credit score over 725, applying for a longer loan tenure to lower monthly payments, keeping your debt-to-income ratio below 30%, applying with a co-applicant for better rates, showing additional stable income sources, and avoiding frequent job changes when salaried. Meeting these criteria can help one qualify for a home loan. It also outlines some basic eligibility requirements like minimum age, income, citizenship status, and credit score.

2. 6 Surefire Ways to Ensure You Meet
Home Loan Eligibility Criteria

3. Overview
The reduction in interest rates and charges over the last three years
has made it easier to purchase your dream home using home
loans. If you are planning to purchase a house in the New Year,
you can easily apply for a home loan from a reputed financial
institution. If you are a first-timer, a bit of research would not only
make you eligible for a home loan but reveal some important things
that you should be aware of.
There might be some impediments to your home loan processing
that you can work around by learning about the application
procedure. It is not difficult to meet the eligibility criteria set by the
lending party. Any reputed bank or non-banking finance company
like C lix C apital would examine a few things such as credit score,
term of the loan, repayment capacity, income, etc. before they
approve your home loan application.

4. Benefits of Home Loan for
Womens
If you ardently want to call a house your own but are concerned about
managing your finances with the EMIs, the best way is to find a home loan
with a lower interest rate. Here, are some tips to get lower interest rates
on your home loan:
FOR GIVE MORE VALUE
FOR SOLVE PROBLEM
FOR HELP CUSTOMER
Improve Your Credit Score
Loan Tenure
Keep Your FOIR Below 30%
Opt for Joint Loans
Additional Income Source
Do not Change Your Job Frequently

5. When you apply for a housing loan, the home loan provider will go
through your credit report and score to analyze your
creditworthiness. An excellent credit score is a delight to any
financial lender since it reduces the risk quotient. To reach that
mark, you have to ensure that all your loans and credit card bills
have been paid punctually. Any kind of delay or default can severely
impact your credit score. Most lending institutions consider a credit
score of 725 and above as excellent for loan approvals. G ood credit
scores also lead to lower home loan interest rates.
Improve Your

6. Home loan repayment is a lifelong pledge. To improve your home loan
eligibility, try and apply for a longer duration home loan. It is important to
note that a longer tenure home loan makes the EMI amount lower but
increases your entire interest sum that has to be paid. So, facilitate a
higher cost of applying for a home loan while opting for a lengthy
repayment phase.
Go for a Lengthy

7. The FOIR or Fixed Obligation to Income Ratio is the ratio of your debts
according to your income. It is also popularly known as the Debt-to-
income ratio. Most lending institutions require your FOIR to be below
30% of the income that you’ll spend for your daily living. Usually while
opting for a home loan, limit your FOIR up to 30% to increase your
chances of getting a home loan quickly and easily.
Keep Your

8. One of the most prudent moves to increase the chances of getting a
home loan is to apply for the loan with an earning family member. You
can also add your spouse as a co-applicant. This will greatly improve
your eligibility and get you added advantages such as lower interest
rates, easy repayment methods, and flexible terms. Furthermore, co-
borrowing also divides the EMI burden and gives you tax benefits.
Opt for

9. An added source of income will surely increase your home loan
eligibility. It can be a rental income source, a side business, or additional
earning. This will add to your credibility and repayment ability while
opting for a home loan. For example, if you have another home or an
apartment, rent it out and that will give you an added source of income
to prove your eligibility.
Show an Additional

10. Do not Change Your
If you are a salaried individual and planning to obtain a home loan,
then avoid frequent job switches. Work in a company for two years
continuously, otherwise your home loan eligibility will be impacted.
Smart planning is required before presenting your application to the
lender.

11. Eligibility Conditions to
Now that you have made up your mind to apply for a home loan, you
must know about a few eligibility conditions that you must meet:
• You must be at least 18 years of age.
• You must be less than 65 years of age by the time your loan term
ends.
• You should be a self-employed or a salaried individual.
• The combined annual income of your household should be over ₹
3 lakhs.
• You must be a residing citizen of India.
• You must have a credit score of at least 750.

12. There are a few points you should be mindful of before deciding to purchase a home using a home loan. If you adhere to the
mentioned guidelines, you can easily become qualified for a home loan. You should start the process first by checking your credit
score with C lix C apital here.

13. OUR VISION
While looking for home loan providers in India, make sure you select
the one that ticks all your desired checkboxes. Clix Capital offers
home loans not only at the most competitive interest rates but with
minimal paperwork and requirements. If you meet all our eligibility
norms and paperwork, you are good to go with your loan application
process and get the funds in just a few minutes.

14. Facebook
www.facebook.com/ClixCapital
FOLLOW BETTER -
SERVICES FOR CUSTOMER
Official Social Media
Subscribe Youtube
Instagram
www.instagram.com/clixcapital
Twitter
twitter.com/clixcapital

15. CLIX