A credit score of 750 or above is considered better for a home loan. Question 2: Do you have a good credit score?įor giving loans, banks and other financial institutions first check the credit score of the person. So try to make as much down payment as you can. The lower the LTV ratio, the lower the rate of interest. But to pay the balance amount, you will have to make the down payment yourself. Nowadays banks give loans from 75 to 90 percent of the total value of the property.
But for this you have to raise some money. Question 1: Do you have enough money for the down payment?īanks help you buy a house. In such a situation, we are telling you about 4 such questions, through which you can find out whether you are ready to take a home loan now? It is imperative to prepare before taking on this long-term financial responsibility. Home loans have a larger amount and longer repayment tenure. Most of the people take the help of home loan for this. Also, a huge amount is required to buy a house. Whose installments take many years to pay off. The Corona crisis has the biggest impact on our long-term investments or expenses. But everyone has to suffer it on his own side. Corona said that the crisis affects collectively.
Corona told that life is full of uncertainties. Corona disease has given a big life lesson to the common people. One new problem after another has taken away the common man’s dream of home.
A credit score of 750 or above is better for home loansįirst the corona epidemic and now inflation.Banks give loans from 75 to 90 percent of the total value of the property.