Tips for a Quick and Successful Home Loan Approval

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Maintain a credit score of 750+ to improve loan eligibility and secure better interest rates

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Apply jointly with a spouse or family member to expedite loan approval and benefit from potential interest rate discounts

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Opt for a longer loan tenure to reduce the monthly EMI burden and increase the chances of approval

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Ensure all required documents, such as identification proofs, salary slips, bank statements, and business-related documents, are prepared in advance

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Pay off existing small loans to reduce FOIR (Fixed Obligation to Income Ratio) and improve loan application viability

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Banks prefer projects from reliable developers to mitigate risks and streamline the loan process

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Explore pre-approved home loan offers based on your repayment capacity, income, and credit score for quick approval

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Offering a higher down payment can enhance the bank's trust and expedite the loan approval

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Approach a bank where you have a salary account and maintained a good repayment history for smoother loan processing

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Buying Real estate / home Is it a better investment ?

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