Bangalore: To own a dream house is what all people wish for. Owning a house doesn’t come cheap but a few changes in the last couple of years have made it easier to buy a house. Vikas Agarwal, of the TNN, sheds some light on how home loan policies have undergone positive changes in order to facilitate buying houses. So, here are some factors which affect home loans -

1. Age

Age is a crucial factor while applying for home loans. Home loan firms have laid down a few criteria based on the age bar of loan applicants. A young gun is allowed a handsome loan tenure of 20 to 25 years. This tenure is not very easily available to older people. People above 45 years of age find it difficult to get longer loan tenures from banks. Many a times, banks don’t sanction loans to single applicants over 50 years of age. They even reduce their loan tenures at times.