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Home loan application: How to improve the chances of approval

Apart from our salaries, it would be wise to club other sources income while making a case before the bank

January 22, 2020 / 11:04 AM IST

 Many of us look to buy our dream apartment or house early on in our careers. In almost all such cases, taking a home loan becomes inevitable, given the high real estate prices prevailing in cities across the country and also the tax benefits that come with home loan repayments.

Given that banks and financial institutions sanction loans based on our current income, existing indebtedness and so on, maintaining a clean credit record becomes important.

Here are some ways to improve the chances of your home loan getting approved by banks.

Clear outstanding loans