By Admin 
Home Loan Rejection Reasons: Almost every Indian dreams of buying his own house. But due to rising inflation and high property prices, most people have to take a home loan from the bank. If you are also planning to buy a house and want to fulfill this dream with the help of a loan, then it is very important to know what the bank looks at first in your application.
The bank checks many things like your income, credit score and job stability. If any one of these is missing, your loan application may get stuck or may be rejected. Let us know about some such things, if you do not pay attention to them, you may face problems in getting a home loan.
1. Take care of CIBIL score
Apart from home loan, your CIBIL score is checked at many places also. If your CIBIL score is below the limit set by the bank, then the bank rejects the loan application. Having a good CIBIL score increases your chances of getting a home loan. Besides, banks can also give discount in interest rates to a person with a good CIBIL score.
2. Income condition
While giving home loan, the bank takes information about the income of the applicant. Minimum income limit has been fixed in most banks. If your income is below this limit, the loan is rejected. Also, your income has a direct impact on your loan amount. Banks avoid paying large amounts on low income.
3. Job stability is important
Banks first see how stable your job is. If you change jobs frequently or work on contract. Also, if your income is not regular, then the bank faces risk in repaying the loan. In such a situation, there may be a problem in getting the home loan approved or the application may even be rejected.
4. Avoid giving wrong information
Giving wrong information while giving information related to home loan in the bank can become the reason for rejection of the loan application. Therefore, all the information should be filled carefully and correctly. If you are not aware of some things, you can ask the bank about it.
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