But not everyone is eligible enough to get home loan approval. It is because one needs to abide by the home loan eligibility criteria before they avail home loans.
On that note, let’s know the standard home loan eligibility criteria in this post before you avail home loans in 2021. Read on!
Standard home loan eligibility criteria 2021 at a glance
You need to be aged between 23 and 62 years.
You need to be employed with an MNC, Public or a Private Limited Company for a period of at least 3 years.
Your CIBIL score should be 750 or more.
KYC documents.
Address and identity proofs.
Income proofs – Salary slips or Form 16.
Last 6 months’ bank account statements.
These are standard home loan eligibility criteria. It may vary from lender to lender. Hence, the best thing before you avail home loan is to land on your lender platform and know about the housing loan eligibility criteria.
If you want to know about your exact home loan eligible amount, you can use the home loan eligibility calculator.
Once you enter your date of birth, city of residence, monthly Salary and income, monthly EMIs, obligations and more, the eligibility calculator will showcase the amount.
Once you enter these aspects and hit the ‘Apply Now’ button, the home loan eligibility calculator will showcase the precise housing loan EMI amount.
The home loan eligibility steps discussed could vary from lender to lender. Hence, you need to use the home loan eligibility amount on your preferred lender’s site.
If you have a CIBIL score of 750 or more and work for a renowned company for at least 3 years, you can get the loan approval.
