How to check home loan eligibility?

NEW DELHI: The home loan eligibility of an individual depends on their credit worthiness, determined in terms of the norms and standards of the bank.
The potential borrower has to go thorough various stages of the credit appraisal process of the bank. Each bank has its own criteria to satisfy itself on the credit worthiness of the borrower.

The credit worthiness basically assures the repayment capacity of the borrower - whether the borrower is capable of repaying the loan and dues on time.
Each bank has certain norms within which the potential borrower needs to fit to be eligible for a loan. Based on these parameters, the maximum amount eligible is worked out. However, the broad parameters to determine the eligibility remain the same for all banks.
Some of the details checked are:
* Incomes of the applicant and co-applicant
* Age of applicants
* Qualifications
* Family details
* Professional Experience
* Employer/business
* Security of tenure
* Tax history
* Details of assets and their financing patterns
* Additional sources of income
* Past loan record, if any
* Recurring liabilities
* Investments