{"id":1895,"date":"2018-06-14T18:31:14","date_gmt":"2018-06-14T13:01:14","guid":{"rendered":"http:\/\/blog.ruloans.com\/?p=1895"},"modified":"2018-06-14T18:31:14","modified_gmt":"2018-06-14T13:01:14","slug":"know-how-eligible-are-you-to-avail-a-home-loan","status":"publish","type":"post","link":"https:\/\/www.ruloans.com\/blog\/know-how-eligible-are-you-to-avail-a-home-loan\/","title":{"rendered":"Know how Eligible are you to avail a Home Loan"},"content":{"rendered":"<p>A home loan can be availed with a suitable credit score and many other requirements. Below listed are few criteria which need to be fulfilled in order to get a loan. The list can be more or less depending from lender to lender but this list is generic in nature and you will need all of them at least.<\/p>\n<ul>\n<li style=\"list-style-type: square; line-height: 36px;\">Any individual with a regular and steady source of income can get a home loan. Yes, one of the most important criteria for a person while taking a loan is to show proof of income whether it is a salaried or a self employed person.<\/li>\n<li style=\"list-style-type: square; line-height: 36px;\">Irrespective of consumer&#8217;s profession whether he\/she is a salaried employee, self-employed or a business person, he\/she can get a home loan. Yes, there is no biasness while giving a loan. The bank needs sufficient proof to understand your repayment capability.<\/li>\n<li style=\"list-style-type: square; line-height: 36px;\">To get a loan there is an eligibility based on age too. The said person should be of minimum 21 years old. For repayments, he\/she will have to complete that by the age of 60 not exceeding the maximum of 65 years old.<\/li>\n<li style=\"list-style-type: square; line-height: 36px;\">The Bank\/NBFC will also analyze the applicant&#8217;s savings history with bank as this plays an important role in loan approval.<\/li>\n<li style=\"list-style-type: square; line-height: 36px;\">Credit history plays a very important role in getting a loan. If you have a bad credit history, especially before 3 months of applying for a home loan, it can go against your favor. Hence it\u2019s wise to be cautious and maintain a good score.<\/li>\n<li style=\"list-style-type: square; line-height: 36px;\">For any individual, a good credit score would be between the ranges of 750-900. This range is defined by CIBIL and they consider it as a good credit score. Hence if it is between these ranges, then there is no hassle in getting a loan.<\/li>\n<li style=\"list-style-type: square; line-height: 36px;\">For every self employed business person, they have to present their profits and turnover history with the bank\/NBFC. They will then determine the loan value which can be given.<\/li>\n<li style=\"list-style-type: square; line-height: 36px;\">Residency proof also is an important factor. The applicant should be staying at the current residence for at least a minimum of 1 year. This is a proof of stability in finance and also employment.<\/li>\n<\/ul>\n<p>Check your <a href=\"https:\/\/www.ruloans.com\/home-loan.htm\">home loan eligibility<\/a> today!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A home loan can be availed with a suitable credit  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