Getting your own dream house is one of the most precious moments in a person’s life. In our country, most aspiring homeowners do avail home loan for purchasing their homes. NBFCs like ShubhBank provide instant and hassle free home loans to eligible borrowers. If you are the one who is looking for some financial aid to purchase a home without hassle, there are few points that you can sort out at your end to get your loan approved.

In this blog post, we will guide you to follow these effective tips before you “APPLY FOR HOME LOAN“ to get it approved quickly.

✓ Improve your credit score: A borrower’s credit score is a key factor that indicates a loan applicant’s eligibility for availing a loan. The CIBIL score ranges from 300-900 and if someone has a good credit score of 750 or above, lending institutions will consider them a reliable borrower and approve their loan application promptly.

However, if your application is lacking in some aspect, you can still “AVAIL A HOME LOAN“ at attractive interest rates with an excellent credit score. More is the CIBIL score; the faster you will get loan approval.

✓ Do not have existing debts: Prior to apply a home loan, make sure that you have cleared all the existing loans as well as credit card dues. It will greatly help your loan eligibility as it will be a indication of your creditworthiness which can get you a quick approval.

✓ Apply with a co-applicant: If your credit score is weak or you don’t meet the eligibility criteria asked by the lender then you can improve your eligibility and speed up your loan approval with a co-applicant who already has a good credit history.

A co-applicant can be your spouse or any other family member who has regular income and can pledge to repay the loan in your steal will surely improve your eligibility for home loan and get you best deals on loan terms with instant approval.

✓ Know your loan terms: Being a responsible borrower, you need to be completely aware of your loans terms such a repayment period, interest rate, prepayment options, loan processing time along with loan terms and conditions before you “APPLY FOR HOME LOAN ONLINE“ or offline.

Make sure to go through the loan application carefully and understand all the process and sail through the loan terms and conditions as well as the repayment structure.

ShubhBank offers you online home loan in very easy steps where you have to fill out an online application form and upload all the required documents on our website. However, it’s easy to get a home loan but ensure yourself about the eligibility criteria before disclosing any relevant information. One can also use EMI calculator to know about the loan repayments and tenure.

We also provide doorstep service and with our dedicated team, one doesn’t have worry about documentation and loan processing. Get in touch with ShubhBank’s representative or visit our digital lending platform for further support and guidance about home loans.