Your\ncredit score impacts your home buying process in a big way. It is the\nreflection of your creditworthiness. When a bank or a financial institution\nappraises your loan proposal, the first thing it does is to look at your credit\nscore. Through this score they determine whether you are qualified to get the loan\nor not. <\/p>\n\n\n\n
What is a credit score?<\/strong><\/p>\n\n\n\n A\ncredit score is a number that is a representation of your credit history. It\nconsists of the number of accounts you operate, total levels of your debts,\nrepayment history, your credit card usage and so on. Your lender bank checks\nthis credit score to evaluate whether you are capable of loan repayment or not.\n<\/p>\n\n\n\n How much credit is needed to buy a home?<\/strong><\/p>\n\n\n\n The\nrange of the CIBIL score is generally between 300 and 900. You can buy a home if your minimum credit score\nis 580 and above. Credit score close to 900 is extremely good. Credit score\nbelow 500 is considered very poor and the banks do not grant loans to those who\nhave such score. People with poor credit score can buy a house with conventional\nfixed rate mortgage scheme with higher interest rate. <\/p>\n\n\n\n How to improve your credit score?<\/strong><\/p>\n\n\n\n When\nyou are thinking of buying a home by taking a bank loan, check your credit\nscore. If it is good your loan will be approved immediately. If not you can\nimprove your credit score before applying for a home loan. <\/p>\n\n\n\n Here are the ways to improve your credit score<\/strong><\/p>\n\n\n\n <\/p>\n\n\n\n Of course there is no need to panic if your credit score is low. Raise it up with timely payments before you apply for a home loan. This will make your home buying process hassle free and delightful. <\/p>\n","protected":false},"excerpt":{"rendered":" Your credit score impacts your home buying process in a big way. It is the reflection of your creditworthiness. When a bank or a financial institution appraises your loan proposal, the first thing it does is to look at your credit score. Through this score they determine whether you are qualified to get the loan […]<\/p>\n","protected":false},"author":1,"featured_media":229,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","footnotes":""},"categories":[99,89,53,22,4,5],"tags":[183,97,226,9,98,225,90,26,150,7,23,133,138,34,31,76,148],"class_list":["post-228","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-home-buying","category-home-loan-real-estate-trends-2020","category-investment-in-the-plot","category-plots-in-hyderabad","category-real-estate-hyderabad","category-tmr-group","tag-commercial-plots","tag-credit-score","tag-creditworthiness","tag-gated-community-plots-in-hyderabad","tag-home-buying","tag-home-buying-process","tag-home-loan","tag-hyderabad","tag-maheshwaram","tag-plots-for-sale-in-hyderabad","tag-plots-in-hyderabad","tag-plots-in-maheshwaram","tag-plots-in-shadnagar","tag-residential-plots","tag-shadnagar","tag-tmr-group","tag-tmr-infra"],"yoast_head":"\n