Bangalore: In advertisements getting a home loan looks simple but in reality it is equally harder and also a lengthy procedure. Often borrowers in India are affected by the instability of interest rates on loans. As home loans are one of the biggest loans quantum wise, loan borrowers are the most affected. Here are some of the frequent issues faced by the home loan borrowers.

1. Initial stage rejection

Sad but true, many of the home loan borrowers go through the rejection phase at the very first stage. There are several reasons behind this rejection but one strong reason can be incompatibility between the borrower's qualifications and lenders requirement. Other reasons may include age criteria, not passing the field investigations conducted by the bank, proper documents not being submitted, the bank not being able to verify your details properly, income criteria and many more. To avoid this initial stage rejection, check the eligibility requirements of all the lending banks carefully and then choose the bank that matches your profile. The only way a bank can help you pass through this initial phase is when you provide them with proper documents and verifiable details.

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