Bank Of Baroda Home Loan Eligibility

By Author: Vijayjeet Singh
Total Articles: 1
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Home loan eligibility mainly depends on the income and repayment capacity of the individual(s):-

The eligibility is calculated based on many factors like:-
Current monthly income
Current EMIs
Total work experience
Current age
Credit history
Credit score etc.

Home Loan Eligibility Criteria

-Current Age and Remaining Working Years: The age of the applicant plays a major role in determining the home loan eligibility. The maximum loan tenure is generally limited to 30 years.
-Employed or self-employed with regular income.
-Age Limit for Salaried Persons: 21 to 65 years. -Age Limit for Self Employed Individuals: 21 to 65 years.
-Minimum salary: ₹10,000 per month.
-Minimum business income: ₹2 lakh per annum. -Maximum loan tenure: 30 years.
-Financial Status: The present and future income of the applicant has a significant impact on the determination of the loan amount.
-Past and current credit history and credit score: A clean repayment record is considered positive. -Other financial obligations: Current liabilities like car loan, credit ...
... card debt, etc.
-All resident and non-resident Indians are eligible for our home loan.

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