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What things to remember before applying for home loan?

rajukumar (Student) (35 Points)

26 July 2016

I am thinking to opt for a loan for my new home. I need suggestion regarding what are the basic things one should check before applying? Please suggest.

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Nitin Arora (Financial Audits) (53 Points)
Replied 26 July 2016

To have a smooth and hassle free loan application process you should ponder to some of the points below:

Have a clear understanding of your financial condition that whether you can bear the home loan EMIs
Maintain good credit score so that your loan application gets approved easily.
Utilize the Co-applicant feature for increasing your loan application acceptance chances if your co-applicant is working.
Pay attention to the application form and carefully read all the terms and conditions before applying for home loan in Mumbai, Delhi or any other metropolitan cities.