Home Loan Eligibility: How To Get The Lowest Mortgage Rate
Home Loan Eligibility: How To Get The Lowest Mortgage Rate Most people who are thinking about buying a home know that interest rates fluctuate. They also know that the best time to get a mortgage is when rates are low. This is why it is important to find out how your interest rate compares to others in your area. This is a difficult task because the rates can vary greatly depending on your credit score, income, and loan amount. However, there are some things that you can do to improve your chances of getting a low interest rate. The article on this blog will give you tips on how to get the lowest mortgage rate. Home Loan Eligibility Criteria Present Age and Remaining Working Years: The age of the applicant plays a major role in determining home loan eligibility. The maximum loan term is generally capped at 30 years. Age Limit for Salaried Individuals: 21 to 65 years . Age Limit for Self-Employed Individuals: 21 to 65 years. Minimum Salary: ₹10,000 p.m. Minimum business incom...