Boost Your Home Loan Eligibility: 5 Hacks to Secure Your Dream Home

• Improve your home loan eligibility by understanding what lenders look for: credit score (aim for 750+), FOIR (under 40%), job stability, existing debts, age, and LTV ratio.
• Clear existing debts, especially small loans, and reduce credit card balances to under 30% of the limit three months before applying to improve your FOIR.
• Maintain a spotless credit history by paying on time, avoiding too many loan applications, and not closing old credit cards.
• Consider adding a co-applicant (spouse, parent, sibling) to combine incomes and increase the loan amount you qualify for.
• Make a larger down payment to reduce your Loan-to-Value (LTV) ratio, or choose a longer loan tenure to lower EMIs and keep your FOIR manageable.