Are You Eligible for a Home Loan to Buy a New House?




In the past decade, quite a number of real estate developers have made it possible for people to have access to better homes and facilities. Matoshree Infrastructure is one such development group that has, with their new residential projects in Mumbai, offered dream homes to many familied. Their upcoming project in Mulund, which is Matoshree Nisarg, has already become a hit amongst people who love the quiet and like to be surrounded by greenery.

Matoshree Nisarg offers spacious 2 BHK apartments that give you the most splendid views, and give you a feeling of tranquillity that is often missing in cities. And with loans easily available to purchase homes, you can get the keys to your own home at Matoshree Nisarg without any hitches. Here’s how you know if you are eligible to get a home loan:

Employment Status: If you wish to get a loan to purchase a house, it is vital that you have a stable job. One of the most basic criteria to applying for a home loan is that one should be employed in their chosen profession for a minimum of two years.

Age: Your age plays an important role in determining your eligibility for a loan. This is done, factoring in things like the repayment term and retirement age. For younger candidates, the chances of getting a loan are high as compared to those closer to retirement.

Financial Condition: This refers not only to the current status of your finances but also your past financial dealings. With a financial record that is ideal, the chances of the loan being disapproved drops significantly.

Credit Ratings: Good credit ratings are another factor that lend a positive impression of you, increasing the possibility of you being granted flexible EMI and tenure options along with other benefits within the capabilities of the bank.

With the affordability of Matoshree Nisarg homes among all the new residential projects in Mumbai, purchasing a house of your own amidst nature is hardly a distant dream.

image credits: financebuddha.com