The borrower’s eligibility of getting a housing loan depend upon his/her repayment capacity & the banks establish this repayment capacity by considering various factors such income, spouse’s income, age, number of dependants qualifications , assets, liabilities, stability and continuity of occupation and savings history. Eligibility Factors in Housing loan. Your Home Loan eligibility is determined by your repayment capacity, taking into consideration, factors such as: Your:

Home Loan Balance transfer need not only mean saving money, you can also utilize the same for investing in different options. After all securing a home loan is not the end of journey. Balance transfer – by switching to another lender may give you a better deal. While a balance transfer will certainly reduce your EMI outgo, there is no one-size-fits-all solution for everybody. To know if it will help you, you need to decipher its workings and calculate the actual benefit before taking a call. All you need to do is know your existing home loan rate and prepayment charges and based on that it gives you detail of four other bank rates as well and tells you how much you can save.

Why the Switch

Many a times, it is possible that the new lender may be offering buyer a lower interest rate as compared to the present lender. However, prior to switching, one must consider few important things in order to make sure that the home loan transfer from one lender to another is actually profitable.

What to consider before the switch?

• Loan Tenure
• Prepayment Charges
• Home Loan Process & various steps involved
• Loan Against Property