If you have the capacity to repay home loans, you can actually secure as many home loans as you want and purchase different properties. But there are some criteria a candidate has to fulfill if they are wondering how many home loans can a person take in India. The eligibility criteria are:
- Home loans are provided by banks on the basis of repayment capacity.
- You should have a good CIBIL score to secure home loans from different banks. A score between 650 and 749 is considered as a good CIBIL score. If your score is somewhere between 300 and 549 it will be difficult to get a home loan from any banks. For a good CIBIL score you should have a good credit history.
- In case you have been a credit monger and secured many loans before you have a poor credit score.
- The bank verifies everything and checks that you are an authentic investor, investing in a property.
- You should have a good track record, otherwise a lender cannot sanction your loan.
- You should have a clear transaction history.
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Authors Of The Question
How many home loans can one person have?
Arohi
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3 Year
2021-12-28T09:25:58+00:00 2022-01-03T14:15:27+00:00Comment
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