Step 1 –Appraisal
The client visits our office with his requirements and personal details. He is then explained the complete procedure for availing home loan & all the necessary documents are called for.
At this stage, we want to determine that you can afford the loan repayments. Our credit team will conduct income verification and validate the accuracy of the information you have provided.
Credit check will then be carried out to reveal your credit history; in this case we as a lender will obtain a credit report that will show the following details:
Personal details such as: Name, Residential Addresses, Date of Birth and PAN card number Records of some recent credit accounts (if any).
As your credit history plays an important part in the home loan application process, it is always advisable to clarify and resolve any credit related issues before lodging your loan application.