Salaried? Your Home Loan Demand Can Be Rejected

Salaried? Your Home Loan Demand Can Be Rejected

Unsteady Employment

Lenders will check your job tenure and credibility of the employer to ensure you have a stable employment. If not, your application may be rejected.

Lenders will check your job tenure and credibility of the employer to ensure you have a stable employment. If not, your application may be rejected.

Credit Issues

If your credit score is 600 or below, it may be difficult to get a home loan. People with high credit scores also face rejection if there are too many delays and defaults on EMI payments.

If your credit score is 600 or below, it may be difficult to get a home loan. People with high credit scores also face rejection if there are too many delays and defaults on EMI payments.

No Approval For Builder

If the builder is not approved by the financial institutions, no matter how premium the project is, getting a home loan can be challenging.

If the builder is not approved by the financial institutions, no matter how premium the project is, getting a home loan can be challenging.

No Approval For Property

If the property is not approved, you are unlikely to get a home loan and even if you get it, the interest rates are likely to be very high.

If the property is not approved, you are unlikely to get a home loan and even if you get it, the interest rates are likely to be very high.

Property Valuation

If you are buying a  property whose valuation is lower than the amount you require from the bank, chances are that your home loan might get rejected.

If you are buying a  property whose valuation is lower than the amount you require from the bank, chances are that your home loan might get rejected.

Takeaway

Perform an eligibility check before you apply for the loan to avoid  rejection.

Perform an eligibility check before you apply for the loan to avoid  rejection.