5 Tips to get your home loan approved easily

We all may fantasize about things we could not possibly afford, but it has to be realistic when it comes to actual home searches. Being realistic means you have a budget to afford it. Being a legal owner of a dream home means several hurdles you have to overcome. From home loan approvals to choosing the location. Here are 5 tips to ease your hurdles, to get your home loan approved.

Check your documents

Approval of a home loan depends much on your documents based on your profession., If you are salaried, then provide a salary statement. If you own a business then provide a revenue statement, G.S.T. filing among others. Proof of identities like Aadhar card, voter I.D., and credit score details are also required.

Pay attention to the application form.

While filling out the application form, be extremely careful as wrong credentials or information can lead to the rejection of a loan. Go through the document carefully to ensure any hidden clause that could catch you off guard later.

Check the developer's credentials

Check the developer's credentials, like how many projects they have completed or whether they have met the deadlines or not. Check their ongoing projects and whether they are on schedule to complete them or not. Check the financial lenders associated with the builders and whether they have permission from the municipality or not when it comes to electricity and water connection.

Resolving pending loans

Before applying for a home loan, clearance of ongoing loans is required. For instance, if you are going through a credit card dispute with your credit card company, resolve it before applying for a home loan.

Respond to requests from your lender

Be prompt in responding to your lenders at the earliest to avert delay in loan disbursal. A delayed response can lead to the rejection of your application.

Conclusion

While applying for a home loan, be transparent with all your information relevant to the application. In addition, to avoid home loan rejection, be honest about details. If you are all set with your documents, application and credit score, and the location, then it's time to initiate the home loan process for your dream home. If you are looking for a home in the Pune suburb, check out 1,2,3 BHk flats in Tathawade, which are up for sale. Engineers Horizon, one of the reputed builders of Pune, launched iOS in Tathawade. The premium project offers 1,2, and 3 B.H.K.s equipped with state-of-the-art amenities and conveniences. Set in the backdrop of Murugan hills and Ganesh hills, iOS in Tathawade is near hospitals like Aaditya Birla hospital, LifePoint hospital, reputed schools including Akshara International school, Lotus School, Blossom school and institutes like Indira institute, D. Y. Patile college, J.S.P.M. college, and the Hinjewadi I.T. hub.

If you plan to buy a home, starting early is better. Gone are the days, buying a home was followed after settling down in life. Nowadays, millennials want to buy a home as quickly as possible. If you fall on the same bracket, then plunge in because h