Home loan eligibility criteria has common parameters across all banks and Non-Banking Financial Companies (NBFCs). However, there could also be specific criteria that is applicable for each lender according to their requirements.

1. Home Loan Eligibility

2. Home Loan Eligibility
Home loan eligibility criteria has common
parameters across all banks and Non-Banking
Financial Companies (NBFCs). However, there could
also be specific criteria that is applicable for each
lender according to their requirements.
It is essential to understand the criteria that is
required to be eligible for a home loan eligibility. It
helps to ensure that the process of application
becomes smoother and easier for you.

3. Eligibility Criteria for Home Loan
Age 18 – 70 Years
Income Rs. 25,000
Credit Score Above 750
Employment Status Salaried or Non-Salaried
Work Experience 2 Years
Loan Amount Decided by the Lender
Residence Type Permanent resident or Non-resident Indian (NRI)
LTV Ratio Up to 90%
Property Type Completed /Under Construction Project, Land/Plot, build
on own Land, Buy Land and Build Home

4. What are the Factors Affect Home Loan Eligibility?
Age Limit: The limit of age foremost factor a lender/ financier considers when
one applies for a housing loan. Normally, financial institutions attempt to limit
the home loan term to the primary applicant's age of superannuation
Income: The applicant falls into, a steady and regular source of income is a
must. Basically, there are fewer risks in loaning money if the applicant is an
earning individual.
Rate of Interest: Home finance eligibility is always inversely proportional to
the rate of interest. If the rate is higher, eligibility will be less and vice versa.
Loan Term: If you opt for a longer tenure, your eligibility will improve. EMIs
too will be lesser and manageable. But the downside to this is, that you will
end up paying more interest.