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5 Tips to Get Home Loan with Bad Credit

The percentage of interest on a loan and the process of approval of a loan, both of these terms depend on the credit score of the person who is applying for a loan. If a person's credit score is bad then he has to pay high interest on the loan and in some cases, it becomes difficult to get a loan. If you want to know how to get a home loan with bad credit, then visit here now! https://realestatediary.org/how-to-get-home-loan-with-bad-credit/

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5 Tips to Get Home Loan with Bad Credit

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  1. 5 TIPS TO GET A HOME LOAN WITH BAD CREDIT? Visit now!

  2. 1. Firstly Improve your credit score Get rid of such remarks by paying off your debts. This will significantly enhance your credit score in a short period of time.

  3. 2. Look for different alternatives. Instead of a bank, you could choose NBFCs because the qualifying criteria set by NBFCs differ from those defined by banks.

  4. 3. Request a lower loan- to-value ratio (LTV) The loan-to-value (LTV) ratio is the amount of money you want to borrow from a bank depending on the worth of your home.

  5. 4. Opt for a lower FOIR. The Fixed Obligations to Income Ratio (FOIR) computes the total amount of fixed obligations you have in a month, including the EMI payment for the house loan you apply for

  6. 5. Provide interim security Home loans are often secured loans in which the house purchased serves as collateral for the loan. Because if you has a good credit history, you can use additional security such as fixed deposits, other property, jewellery, and so on.

  7. ContactUs https://twitter.com/estate_diary +1-662-200-5160 info@realestatediary.org www.realestatediary.org

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