Eligibility Preparations You Should Make Before Applying for a Home Loan
                     Eligibility Preparations You Should Make 
Before Applying for a Home Loan
The Basics of Home Loan
• A loan provider needs to check if the 
homeowner is capable enough to take 
the home loan burden. If you start 
preparing towards the right eligibility 
for a home loan, and use a 
home loan EMI calculator you can 
get it easily in a smart way. 
What is a home loan? 
• What is a home loan? A home loan is 
an end-specific loan that is meant for 
purchasing a home or land. It is not 
flexible and cannot be used for 
anything apart from home. It is the 
most valuable form of loan due to the 
amount of funds involved in it. The 
eligibility criteria of a home loan are 
high and one must have an excellent 
credit score and amazing income to get 
hold of one.
Start preparing!
• Start paying your bills on time. Do not 
pay after the due date. It will damage 
your credit score and put a negative 
impact on your credit record. 
• Do not keep any outstanding or 
overdue amount pending on your bill 
payments. Always make the full bill 
payments. 
• Increase the source of income by 
working extra. When an EMI gets 
added, you will need an extra source of 
money. 
Start preparing!
• Start saving early for the down 
payment. The down payment is a 
must-have one for getting a home 
loan. You need to save the entire 
amount before you apply for a 
home loan. 
• Do not keep any bad credit record 
like default or a bad debt 
repayment record. 
• Keep your credit cards open even 
when you do not use them. The 
longer the credit age the better it 
will be for your credit health. 
Issues with the Chosen Property
• The answer to what is a home 
loan can give you the best help in 
understanding one. The home 
loan EMI calculator will help 
you make the right decision 
regarding your borrowing. 
4. Submitting Incomplete Documentation
 Complete and proper documentation is 
the prerequisite for any loan application, 
be it home loan or personal loan.
 This becomes all the more important in 
case of a home loan because of the large 
amount of loan involved. 
 Lenders carefully check each and every 
document in your application for 
completeness, relevance, authenticity, 
and your signatures. 
 Any gap in the required and submitted 
documents would either lead to loan 
application rejection or delay in 
processing.
 To sum up, all we can say is to get your 
home loan application rejected or 
approved largely depends on you. 
 A lender evaluates your loan 
application based on your credit 
profile and what documents you 
present. 
 Make sure you nail both these areas 
while submitting an application for 
home loan with any lender.
Clix Capital Services Private Limited
 Address: 4th Floor, Kailash Building, Kasturba Gandhi Marg, Connaught Place, New 
Delhi-110001
 Call us: 1800 200 9898
 Email us: [email protected]
 Website: www.clix.capital 
Read More: www.clix.capital/clixblog/reasons-for-home-loan-application-rejection-what-you-can-learn-from-them