Lenders use it to assess your creditworthiness. A higher credit score usually means better interest rates and loan terms.
It is determined based on your income and repayment capacity. Other important considerations include total liabilities, age, and nature of employment.
A substantial down payment can significantly reduce the loan amount, leading to lower monthly payments and overall interest costs.
It is the amount you will pay towards your loan every month. EMI includes the principal amount and interest on the outstanding amount of loan.
The tenure of your home loan directly impacts your monthly EMIs. Banks generally prefer home loan applicants with shorter repayment periods.