The criteria with respect to eligibility for a home loan tend to vary from one lender to another. Following are some key requirements to be taken into consideration:

Target Group:  Any salaried, self-employed or professional individual of Indian nationality can apply for a home loan.

Age Criteria:  The loan applicant must be aged 21 years or above

Income Criteria: 

●The applicant needs to have a regular source of income to improve the chances of regular repayment. Having a regular income source helps the loan provider to assess the borrower's repayment capacity.

●For self-employed individuals, profit earned by you majorly determines the housing loan value you are eligible for.

Employment Experience:  The applicant's professional stability documentation, more precisely it is the work experience of the applicant.

Credit History:  Credit history is another major deciding factor for availing a housing loan. A clean credit history will help in quick loan approval.