Basic Parameters that describe your Home loan entitlement & home loan endorsement

1. Registered Office & Corporate Office: Aspire Home Finance Corpora on Ltd., Mo lal Oswal Tower, Rahimtullah Sayani Road, Opposite
Parel ST Depot, Prabhadevi, Mumbai- 400025
Basic Parameters that describe your
Home loan en tlement & home loan endorsement
Salary/ITR
Havingahighersalary/incomewillletyouapplyandalsoqualifyforahigherloanamount.
QualityoftheProperty
Banks check whether the property selected by you is ideal according to the technical & legal norms. Most
importantly, they check ifit has the necessary government and local administra on sanc ons & approvals.
Therefore, before deciding the property do check the project is approved & complies with legal & technical aspects
oftheproperty.
YourProfile,Academic&ProfessionalBackground
Bank's credit sanc on decisions are also influenced by your profile, academic & professional qualifica on. As it is a
long-termcommitmentwiththebank,theyanalyzeonpoten algrowthinyourcareer,industryyouareworkingin&
kind of profile you are into. Like, Call centres/BPOs are not treated at par with other corporate profiles, as they tend
to have high a ri on rates. Banks generally want an applicant with stable job hence check for current & total work
experience. Doctor's, engineer's, CA, Mgmt etc., sway banker's decisions as they see the poten al growth in their
careers.
YourCredit/defaultprofile
Banks verify whether you have defaulted any or previous loan/ credit card repayment. This is done against both
internal systems and plus third party systems like CIBIL. With a poor credit score, it is virtually impossible to get a
loan.Evenifyoudomanagealoan,itwillbeataveryhighinterestrate
FamilyCreditHistory
Banks also verify the financial records of your blood rela ons with the help of CIBIL. If they have defaulted then you
toostandachanceoflosingoutonyourloanapproval.
DownPayment
Banks also check if you are capable of making the necessary down payment for the property you wish to buy. In case
you do not have that kind of collateral for the down payment, you will not be eligible for the balance amount of your
homeloan.
Toensureyourloanissanc oned,youneedto:
Ÿ Haveagoodcredithistory
Ÿ Haveathoroughcheckonthepropertyyou'rebuying
Ÿ Haveaproperincome/ITRrecord
Ÿ Ensureyourguarantor/familymembershaveadecentrepayment&incomerecord
Ÿ Havesufficientfundsforyourdownpayment