Looking for a

Home Loan
to Buy Your Dream House?
These 10 Tips Can Enhance Your Overall Experience
 Overview
https://www.clix.capital/

Buying a home has become much easier and more

affordable than ever before, probably due to PMAY
subsidies offered by the Indian government and tough

“ competition among lenders to attract borrowers. If you

are planning to buy your dream home, there are
several reasons why you must fund it with a home
loan, even if you can pay its cost upfront. If you are a
first-time homebuyer, you will need to research a bit to
have an overall pleasurable experience. ”
To have a hassle-free home loan experience, you must
find the best home loan interest rate with ease of
application, simple eligibility criteria, and minimal
documentation requirements. Things can become even
easier for you if you have a high credit score along with
a low DTI and credit utilisation ratio.
 https://www.clix.capital

Use These Tips To Improve Your

Eligibility And Have a Hassle-Free
Experience

Improve Your Credit Avoid Changing Your

Score Job

Be Diligent While Compare Lenders

Selecting Your Loan
Term

Reduce Your Debt-To- Look For Online Home

Income Ratio Loan Application

Keep Your Foir Low Declare All Your Make A Higher Down Be Patient
Income Sources Payment
Home loan applicants with a high credit score always have a
better experience. To improve your credit score, you need to
make all your due payments on time, including loan EMIs
and credit card bills. Your seriousness for settling dues
clearly impacts your credit score. Any delay or missed
IMPROVE YOUR CREDIT
payments can negatively impact your score. Other factors
that impact your credit score include your debt-to-income SCORE
ratio, credit utilisation ratio, age of credit history, and
diversity in credit portfolio.
Many lenders allow you to choose your loan repayment term
according to your monthly budget and repayment capacity.
You can use a home loan EMI calculator to find a loan term
with an EMI amount you can easily afford.

For instance, Clix Capital allows you to choose a loan term

of up to 25 years. The longer the loan term you choose, the
BE DILIGENT WHILE
smaller will be the EMIs, but the interest outgo will be higher.
On the contrary, you may save on interest outgo if you select
SELECTING YOUR
a shorter loan term, but the EMI amount may be higher.
Therefore, you must be diligent while selecting your loan LOAN TERM
term since it should be easily adjustable within your monthly
budget.
Lenders give due attention to your DTI ratio while evaluating
your home loan eligibility. Therefore, it makes sense to clear
your debts and reduce your DTI ratio to find the best home
loan interest rate. Repaying your pending dues will also
REDUCE YOUR DEBT-
improve your credit score, which can further enhance your
home loan experience. TO-INCOME RATIO
FOIR is Fixed Obligation to Income Ratio, which represents
the ratio of your financial obligations to your income. It is
another critical parameter that lenders use to determine your
home loan eligibility, loan amount, and interest rate. Ideally,
you should not spend more than 30-40% of your income on
REDUCE YOUR DEBT-
your financial obligations. Home loan applicants with a low
FOIR have greater chances of getting loan approval easily TO-INCOME RATIO
at favourable terms and conditions.
While applying for a home loan, you can increase your
eligibility by declaring all your income sources. Lenders
prefer borrowers who have multiple sources of income other
than their regular salary. These include anything from rental
income and part-time business to investments and interest DECLARE ALL YOUR
rates. Multiple income sources mean better financial health,
encouraging lenders to offer you better loan terms.
Additional income will also reduce your FOIR, thereby giving
INCOME SOURCES
you a higher repayment capacity.
The lender finances a major percentage of the property’s
value, and you have to pay the remaining amount as a down
payment. If you can save money and make a higher down
payment, you will need to borrow less. As a result, you will
save a lot on the interest amount you would have paid
MAKE A HIGHER DOWN
otherwise. Therefore, making a higher down payment is
always wise to avoid high interest outgo. PAYMENT
Lenders always prefer loan applicants who have a stable job
with a regular income. Therefore, if you are a salaried
individual, you must continue working in your current
organisation until you get your home loan. Frequently
changing your job may impact your home loan experience.
AVOID CHANGING
While planning to buy a home with a home loan, avoid any
job changes for the time being. YOUR JOB
Compare lenders based on several factors like loan amount,
interest rate, eligibility conditions, documentation
requirements, loan application and approval, customer
service, and others. Choosing the best lender based on
these factors will eventually enhance your overall home loan
COMPARE LENDERS
experience.
Compare lenders based on several factors like loan amount,
interest rate, eligibility conditions, documentation
requirements, loan application and approval, customer
service, and others. Choosing the best lender based on
these factors will eventually enhance your overall home loan
LOOK FOR ONLINE
experience.
HOME LOAN
APPLICATION
Never apply for a home loan in a hurry. Do proper research
and take time to calculate your budget, estimate your
income and earnings, check your credit score, and compare
lenders. You also need to choose between a floating and a
fixed interest rate according to your preferences. Read the BE PATIENT
loan documents carefully before signing, and look at other
fees and charges you have to pay before applying for a
home loan.
https://www.clix.capital
Give Perfect
Home Loan Solution
We’re a smart, contemporary lending firm that
uses technology to make loans simpler, faster,
and more accessible for our customers. What
does that mean? Minimum paperwork. Faster
sanctions. Maximum peace of mind! Sounds too
good to be true? Reach out to us and we’ll convi
OUR VISION
Following the tips mentioned above can enhance your overall
home loan experience. You can improve your loan eligibility with
them, thereby making loan approval easier and faster with
favourable terms and conditions. We, at Clix Capital, offer home
loans of up to ₹ 2 Crore with a repayment tenure of up to 25
years. You can apply for a home loan with us and use te above-
mentioned tips to make your home loan experience as
pleasurable as possible.
 https://www.clix.capital/

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CLIX CAPITAL
https://www.clix.capital