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Frequently Asked Questions (FAQs)
1.What is the minimum CIBIL score required for a home loan?
Most banks prefer a CIBIL score of 750 or above for quick approval and best interest rates.
If your score is between 700–749, you’re still eligible, but rates may be slightly higher.
Scores below 650 may need a co-applicant or extra security.
👉 YourLoanBird.com can help review and improve your CIBIL before applying.
2.How much home loan can I get based on my income?
Loan eligibility mainly depends on your monthly take-home income and existing EMIs.
Usually, banks allow EMIs up to 50–60% of your net monthly income.
Example: ₹50,000 income → approx ₹30–35 lakhs loan.
A co-applicant’s income can increase your eligible amount further.
3.What is the current home loan interest rate in India?
As of now, most leading banks offer rates between 8.35% and 9.25% p.a., depending on your profile.
Salaried employees with high CIBIL get the lowest rates, while self-employed applicants may see slightly higher rates.
YourLoanBird compares 20+ banks to find the lowest rate for your profile.
4.Can I apply jointly with my spouse or parents?
es! You can apply jointly with your spouse, parents, or earning siblings.
Joint applications help you increase your loan eligibility and get shared tax benefits.
Both applicants should have stable income and good CIBIL scores for smoother approval.
5.How long does it take to get a home loan approved?
The approval time depends on your documents and profile completeness.
Usually, it takes 3–5 working days for pre-approval and 7–10 days for final disbursal.
With YourLoanBird.com, the process is faster — we handle documentation, comparisons, and coordination with banks for you.