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I know it’s hard to get a home loan with a low CIBIL score. While granting a housing loan, lenders consider your credit score as an important factor to access the applicant’s eligibility for that housing loan. Usually, a score below 600 is considered low for granting a housing loan. But let me tell you how to get home loan with low CIBIL score:
- If your credit score is low but the credit score of your spouse is good, then you can apply for a joint housing loan. It increases the chances of your housing loan application being approved.
- You can reach a settlement with your financial institution or bank, in case of credit card or loan payment default. You can pay off the settlement money and obtain a NOC after reaching the settlement. The NOC makes it easy for you to apply for a housing loan.
- Also, you can approach the financial institution or bank with which you have a working relationship. Your customer loyalty can help you avail of a home loan even if you have a bad credit score.
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Wondering if you can get a home loan with a bad credit score?
Terri1221
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2021-10-07T17:25:18+00:00 2021-10-08T18:32:46+00:00Comment
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