Are you planning to apply for a home loan? Most people think eligibility is all about income or CIBIL score. But that’s only part of the story. To truly secure a home loan approval, lenders in India—be it banks or NBFCs—look at three core parameters:
🔍 1. Financial Check
This is the most common check people know about, which includes:
- CIBIL Score: Must be 720+ for smooth approvals
- Income Proof: Salary slips, ITR, Form 16
- Debt-to-Income Ratio (DTI): Ideally under 40%
- Existing Loans: Active EMIs impact your eligibility
đź“ś 2. Legal Check
Legal due diligence on the property is critical. Lenders will review:
- Title Deed & Ownership Documents
- Encumbrance Certificate (EC)
- Property Chain Documents
- Builder Approvals & RERA Registration (for under-construction projects)
If the property documents are incomplete or unclear, the bank won’t approve the loan—no matter how good your financials are.
🏗️ 3. Technical Check
Technical evaluation is done to estimate the true value of the property. This includes:
- Site Visits by Bank-Valuer
- Construction Quality & Area Measurement
- Comparison with Market Value
- Approval from Municipal Authorities
This is especially important for home construction loans, resale properties, or independent houses.
🤯 Why Most Online Platforms Fail You
Most home loan calculators or eligibility tools online only perform basic financial checks—and skip legal and technical checks altogether. This often leads to:
- Loan Rejections
- Delay in Approvals
- Wasted Enquiries that Affect CIBIL Score
âś… Shivafinz: Get Real-Time, All-Inclusive Eligibility Check
At Shivafinz, we believe in zero rejection, only approval.
We provide:
- âś… Real-time eligibility check (Financial + Legal + Technical)
- âś… Expert support with documentation and banking queries
- âś… Quick disbursal with our network of 40+ banks & NBFCs
đź’¬ Final Thoughts
Don’t take chances with your dream home.
Before applying, make sure your application meets all three checks.
👉 Connect with Shivafinz for a FREE eligibility assessment and a smooth home loan experience.
đź“ž Call us today or DM on Instagram: [@shivafinz]