Introduction
Applying for a home loan can feel like a dream come true—until you check your CIBIL score and find it’s -1 or 0. Many individuals, especially first-time borrowers or freelancers, often face this situation due to a lack of credit history. But does this mean your home loan journey ends here?
Absolutely not! At Shivafinz, we’ve helped hundreds of such applicants secure their dream homes.
💳 What Does a CIBIL Score of -1 or 0 Mean?
- A CIBIL score of -1 indicates no credit history—you’ve never taken a loan or used a credit card.
- A score of 0 usually means less than 6 months of credit activity, which is too little to generate a full score.
🧠 Why Is This a Problem for Home Loans?
Banks and NBFCs rely heavily on your CIBIL score to judge your creditworthiness. A low or non-existent score might raise red flags, making lenders hesitant to approve your application.
✅ The Solution: Add a Co-Applicant
One of the easiest and most effective ways to get your home loan approved with a CIBIL score of -1 or 0 is to add a co-applicant.
Who can be a co-applicant?
- 👩👧👦 Mother or Father
- 👨👧 Brother or Sister
- 💑 Husband or Wife
If your co-applicant has a stable income and a good credit score, lenders are more confident in approving the loan.
💡 Benefits of Adding a Co-Applicant
- Increased loan eligibility
- Better interest rates (in some cases)
- Higher chances of approval even with a low/no credit score
🧾 Documents Typically Required
- Identity and address proof of both applicants
- PAN Card
- Income proof of co-applicant
- Property documents
- CIBIL report (if available)
📣 Final Thoughts
Your CIBIL score is just one part of your financial story. If it’s -1 or 0, don’t give up. Adding a co-applicant can open doors to your dream home.
At Shivafinz, we specialize in custom solutions tailored to your financial background. Whether you’re a freelancer, self-employed, or first-time buyer—we’ve got your back.
📲 Ready to take the next step?
Reach out to our team at Shivafinz and get expert home loan guidance today.