How Does SBI Check the Financial Eligibility of the Borrower? If self-employed, the nature of the business. A CIBIL score above 750 is required to be eligible to take a housing loan. Loan to value ratio (80% to 90%) - if the property value is Rs 50 lakh, the bank will only sanction a loan equal to 80% or 90% of Rs 50 lakh.Ĭredit score - this is the CIBIL score of the borrower. The amount of loan sanctioned depends on many property documents required for home loan and factors such as: SBI sanctions loans to people who are older than 18 years and not more than 70 years. SBI home loan eligibility depends on many factors.

Let’s look at the documents required for SBI home loan eligibility in this article. Not to mention, if you take care of some essential aspects at the very beginning of taking a home loan, you will be amazed by the results.

Don’t worry! Applying for a home loan is a simple process. Majority of people apply for home loans for many reasons like they want to buy a home or want to renovate it but are a shortage of money, tax benefits, to improve their credit-worthiness for future, etc.Īlthough many want to apply for a home loan but are doubtful about the property documents required for home loan, as some consider it to be a daunting task. Why Should You Take Home Loan?Ī once in a lifetime investment requires a loan to craft into a dream property and that is how a home loan comes into the big picture of things in your life.

Buying a home is considered a one-time investment for many, so they don’t want to leave any additional feature and want the best for their family. It holds the family together emotionally and gives comfort like nowhere else in the world. Home is considered as a place that gives stability and security to a family.

Sbi bank home loan