Many of our readers have written to us to know How Banks Process and Approve Home / Car Loans ? They further have apprehensions that their Loan Applications were turned down despite having good Credit Report and CIBIL Score greater than 800. How do we account for such a case ?
When you apply for a Housing Loan, the following steps are performed by the Lending Bank / Financial Institution.
- Collect all necessary Documentation where Income Proof like Salary Slip, IT Returns are of importance to our discussion.
- Collect necessary Processing Fees / Debit to your Account
- Pull a Fresh CIBIL / Experian Credit Report and