INTERVIEW QUESTIONS LOAN HOME LOAN DETAILS

Question: I want to purchase new house but I am having low cibil score of 540.can I take home loan on my father name am I eligible to give gurrantor sign to my father . and may I know which banks will give home loan without checking cibil score.

Answer: All banks check credit score of borrowers before approving loan. Credit score of guarantors will also checked. Do know know why your credit score have been lower? Have you had any defaults in cards or any previous loan payments? If so, it is less likely to get your new loan application approved, unless the default is small and the reason is genuine. So if the loan is in the name of your father, and guarantor is mandatory, it can be difficult to get the loan approved if you previously have some default history.

All banks check credit score of borrowers before approving loan. Credit score of guarantors will also checked. Do know know why your credit score have been lower? Have you had any defaults in cards or any previous loan payments? If so, it is less likely to get your new loan application approved, unless the default is small and the reason is genuine. So if the loan is in the name of your father, and guarantor is mandatory, it can be difficult to get the loan approved if you previously have some default history. Source: CoolInterview.com

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