Eligibility Criteria for Home Loan in Nasik - Ruloans

Nasik is a city in the state of Maharashtra, India. Nasik is the 2nd largest and most populous city of Vidarbha after Nagpur. It is also known as Cultural Capital of Vidarbha because of it’s education facilities and cultural heritage. It is the administrative headquarters of the Nasik district.

As per Population Census of India 2011, Nasik, Maharashtra has a population of 61.1 Lakhs with 12.23 lakhs households spread across in the area of 15530 Sq. Kms.

If you planning to settle in Nasik, Maharashtra. Ruloans help you buy your dream home. We provide home loan in Nasik to both salaried and self-employed at reduced rate of interest.

If you are looking for the best housing finance company in Nasik that provides you with best-in-class services and easy home loan process, look no further.

Ruloans has emerged as a preferred choice for many in its segment which helps you to meet your all housing finance needs.

The home loan eligibility criteria usually set by lenders for their loan applicants for availing home loans:

Job Profile - Both self-employed and salaried individuals are eligible for availing home loans in Nasik.

Age - Home loan lenders in Nasik usually approve loan applications of individuals aged between 18 and 65 years. However, loan applicants are required to pay back the total loan amount by the time they are 70 years old.

Nationality - Lenders offering home loan in Nasik usually consider the loan applications of Resident Indians. However, some lenders also provide home loans to NRIs, PIOs and OCIs.

Credit Score - Most lenders consider home loan applicants with CIBIL/credit scores of 750 and above as financially disciplined. Thus, home loan lenders are also more likely to sanction loan applications of individuals with higher credit scores. Such applicants also stand a higher chance of availing home loans at lower interest rates.

Income - Home loan lenders in Nasik usually consider the monthly or annual incomes of their loan applicants before deciding on approving/rejecting their loan application. Banks/HFCs and NBFCs usually sanction loan applications of salaried individuals with monthly income of Rs 10,000 and more and self-employed applicants with annual income starting from Rs 1 lakh.

Work Experience - The total work experience (for salaried) or total no. of years in business (for self-employed) is an important eligibility criteria for home loan lenders. Any lender offering a home loan in Nasik will usually approve the loan applications of salaried applicants with minimum 2 years of work experience and self-employed applicants with business continuity of at least 2 years.