Home Loan

Advice for Home Loan #1 Pay Your Outstanding Loans

The most important of all is to pay your outstanding loans and never miss it or your CIBIL score may come down. Rule is to never ever miss your EMI or your monthly instalment. A single default in payment will bring your CIBIL score substantially down. Cibil score is your good will is your report card which will tell whether your loan will pass or fail. It determines your future financial progress, your financial stability, your financial credibility in the lending market. When you have good paying history which remain up to the mark with time without any default then your mortgage lender your money lender your lender whether a bank or a private financer will believe you that you will be responsible in the same way toward your Home Loan, your housing loan equally. Before applying for a Home Loan always remember to make all your payments up to date / pay them regularly time to time.

Home Loan Advice #2 History of your Employment

To keep it simple in straight line is that when an loan applicant is employed in the same job for more than 2 years or in the same kind or same field of job for that amount of time then an approval for Home Loan is more easy and more probable. For example if a loan applicant is looking to change his job and is also looking for a Home Loan then the best and way or the only way is to wait for your Home Loan to get approved and then change your job. After getting your Home Loan approved one can change job or switch job thereafter. Rule is to take Home Loan first then change your job.

Home Loan Advice #3 Clear all your pending loans

An applicant’s earlier loans or all pending loans should be cleared and should be brought to almost Zero before Home Loan is applied. Whereas private finance companies like ours ‘Fast Loans’ are liberal about it. Because when an applicant’s loan application is approved the income to debt or outstanding liabilities ratio is considered by the lender. All those applicants having debt to income ratio in control are more likely to get a Home Loan than others.

Home Loan Advice #4 Reserves / Savings to show minimum down payment

The most important of all is to have to have reserves or some savings to show the lender that you are capable of paying down payment and are also capable of paying monthly interest (instalments) on your Home Loan on your own and not from the loan amount which is sanctioned. When you have enough money in savings to cover your Home Loan expenses like process fee, file charge etc. Whereas we at ‘Fast Loans’ do not charge any process fee or file charge.

Get Home Loan with Bad Credit


Getting a Home Loan with bad credit is a herculean task. Availing a Home Loan with bad credit score or bad CIBIL is near to impossible. Apply loan anywhere and most likely you will get a big ‘NO’ or ‘REJECTION’. You may also lose faith in the current lending market or lending system. The solution is to find lenders who will lend irrespective of your credit score or bad CIBIL Score. We at ‘Fast Loans’ lend money to those also who have bad credit score because we understand that our clients/ prospective loan applicants have their financial ups and downs like everybody else. Many lenders charge some fees like processing fee, file charge etc. But at ‘Fast Loans’ there are no charges at all. Looking for a Home Loan with bad credit then look for private lenders.

Home Loan Advice #1 Home Loan Online

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