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Home Loan Eligibility Criteria
A Home Loan requires a borrower to pledge the property to be purchased as collateral. You may qualify for this type of credit by fulfilling your lender’s set eligibility criteria.
The basic home loan eligibility criteria or mortgage loan eligibility criteria are as follows:
- Age
Typically, you must be above 21 years of age at the time of the commencing of your loan, and up to 65 years or less at home loan maturity
- Salaried Person – 21 years to 58 years
- Self-Employed Person – 25 years to 65 years
- Employment
- Salaried Person – Minimum 2 to 3 years of Experience in MNC, or a Private or Public Limited Company
- Self-Employed Person – Minimum 3 years of Experience in the current field
- Income
- Salaried Person – Minimum Rs. 10,000 per month
- Self-Employed Person – Minimum Rs. 2,00,000 per year
- Credit Score
Typically, a credit score of 750 may be considered a good score for approval.
Benefits of Home Loan Eligibility Calculator
Easy Availability
Being an online digital resource, it can be accessed anywhere, at any time via your Desktop, Laptop, Tablet, or Smart Phone.
Effortless Process
Select your loan value using the range sliders, and you have your result displayed instantly. This effortless process gives you real-time results without you having to worry about manual calculator deficiencies.
Saves Time
Ruloans Home Loan Eligibility Calculator produces results in real-time, saving you a lot of precious time in the process. Thus, you have more time to make decisions to suit your goals.
100% Accuracy
Ruloans Home Loan Eligibility Calculator provides you with error-free precise results contrary to irritating and erroneous occurrences in manually calculated results.
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