What are the other factors, which are relevant for home loan eligibility?
– Purpose of the loan – ( purchase of property, improvement, purchase of land ) – Age – Income ( savings history ) – Experience & Qualification ( stability and continuity of occupation ) – Employer – Existing loans – Number of dependents – Credit History (Past repayment history) – Resident status ( The maximum loan that can be sanctioned to a resident Indian is Rs 5,000,000 )
