Reasons That May Lead to Home Loan Rejection by a Bank
There are many financial decisions that people have to take during their lifetimes. Of these, perhaps buying a home is one of the biggest and costliest decisions. The exorbitant prices of apartments put them out of the reach of many middle-class families. But fortunately, home loans make it possible to purchase the home of your dreams. Though a home loan is a very practical solution, some homebuyers can be left frustrated when their loan is rejected by a bank. There are numerous reasons for an application to be rejected. So, if you are planning to buy seaside apartmentsin Goa , here are a few things that you should keep in mind to prevent your loan application from being rejected. Credit score A credit score plays an important role in the acceptance or rejection of one’s home loan. When a person applies for a loan, lenders will ask for their credit report. A credit score lower than 750 points can result in your loan getting rejec...