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Home / Finance / Home Loan / Can a housewife apply for a home loan?
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Can a housewife apply for a home loan?

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0 2023-10-31T15:09:28+00:00
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Yes, there is a facility of

home loan for house wife,

provided she meets certain eligibility criteria. It includes:

  • Most lenders require a co-applicant who is an earning member of the family. Their income is taken into consideration to determine the loan eligibility.

  • The co-applicant's income should be sufficient to meet the lender's criteria for the loan amount payments.

  • Both the applicant and co-applicant's credit scores are important factors in the loan approval process.

  • The age of the housewife and co-applicant should be within the lender's specified age limits.

  • The housewife and co-applicant should provide all necessary documents. It includes the sale deed, property title, and other legal documents.

  • The housewife must have the legal right to own property or to co-own the property.

Additionally, you should check the specific requirements with various banks or financial institutions to determine which one may be more flexible for a housewife's loan application. This is all about

can housewife get home loan.

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1 2021-09-27T17:07:10+00:00
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No, She can apply if it has a source of income, or their husband or son has a income holder, so they can apply joint loan.

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2 2021-09-27T16:24:42+00:00
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Home loan is a huge responsibility and a commitment for longer tenure. When someone enquires about a home loan, the first thing that comes to mind is how will they repay the home loan? Do they have a stable income source? Banks usually agree to provide home loans to people who are salaried or self employed. When such are the conditions, it is legit to ask can a housewife apply for a home loan? What are the ways to avail home loan for housewives? I am answering all these questions here. Can housewife apply for home loan? Although eligibility conditions are clear from banks and financial institutions that the applicant must have a stable source of income, housewives can avail the loan facilities as well. Here is how: Go for gold loan If you are a housewife, you can give your gold jewellery as collateral. Home loan is a secured form of loan, allows collateral to be submitted in the bank. Housewives can go to the bank and ask if they can use it as collateral and how to use their gold jewellery to get home loan. Take a loan against fixed deposit Being a housewife, if you have a fixed deposit in your name which can be put up as a collateral then don’t hesitate to do that. You can ask the bank officials to clarify the process to get home loan via loan against fixed deposit. Find a co signer If you cannot take a loan independently, then find a co-signer and apply for a home loan. Any salaried or self employed co signer can help you get a home loan. The chances are slim but it doesn’t hurt to give it a shot to avail home loan for housewives.   Read more: Can personal loan be transferred to home loan How much downpayment for home loan Which is the best bank for home loan Know whether you are eligible for Home Loan or not via NoBroker here [widget_homeLoan_checkEligibility_form]

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