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Question: How can I enhance my home loan eligibility as my current eligibility is not sufficient for my loan?
Answer: You have not mentioned your financial background but in case you have an outstanding loan repaying of any such loan would go a long way in improving your home loan eligibility. If you are married, there is a good case for combining the incomes together with your wife while seeking a home loan. Apart from the spouse, clubbing of income is also permissible with son, father or mother. Clubbing of income is a great way to increase the overall loan eligibility especially if one is seeking a high quantum of home loan. Increasing the tenure period of the home loan is a good way to increase the home loan eligibility. Since home loan eligibility is calculated depending on the monthly repayment capacity of the individual, the higher the tenure, the smaller is the monthly EMI.
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Home Loan Interview Questions & Answers -
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Question:
How can I enhance my home loan eligibility as my current eligibility is not sufficient for my loan?
Answer:
You have not mentioned your financial background but in case you have an outstanding loan repaying of any such loan would go a long way in improving your home loan eligibility. If you are married, there is a good case for combining the incomes together with your wife while seeking a home loan. Apart from the spouse, clubbing of income is also permissible with son, father or mother. Clubbing of income is a great way to increase the overall loan eligibility especially if one is seeking a high quantum of home loan. Increasing the tenure period of the home loan is a good way to increase the home loan eligibility. Since home loan eligibility is calculated depending on the monthly repayment capacity of the individual, the higher the tenure, the smaller is the monthly EMI. Source: CoolInterview.com
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