2. Source of Income

A steady flow of income is another crucial criterion while applying for home loans. A few related factors include – stable income and also quality income. In other words, an employee of a reputed firm with a bigger salary bracket will be preferred over someone who lacks such features. In addition to these, banks also look keenly into – stability and risks related to the field the employee is in. Banks prefer people who are from less risky and more stable fields. Often, banks don’t consider applicants with variable pay.