There are many factors to look upon before deciding to buy a home. One of the important aspect for getting a loan is Credit Score. A credit score is a number that denotes how honestly and timely are you paying the installments. It shows as a report to all the financial institutions and that’s what they check before sanctioning any type of loan.
Why credit score is important? How much credit score is good? Anything between 700-800 is considered a good credit score. Below 300 the lender will reject any and all loan requests. Before applying for a loan or to specifically say ‘Home loan’ better check the credit history. However, even after that there are other factors based on which the home loan request is looked upon.
Even after everything is clear, the last hurdle that remains between a buyer and home buying is the need of down payment.Most of the people end up saving for the down payment for their entire life missing the opportunity of buying a home at the right time.
HomeCapital is India's first Down Payment Assistance Program, revolutionizing the house ownership and changing lives of millions of home consumers through their Interest Free Down Payment Assistance application using their comfortable interactive platform. By combining actual property, finance and technology, they've pioneered the solution to the biggest hassle of Down Payment in home possession. Discover a very new way of domestic ownership through HomeCapital.
