{"id":5676,"date":"2023-08-28T16:03:14","date_gmt":"2023-08-28T16:03:14","guid":{"rendered":"\/blog\/?p=5676"},"modified":"2024-07-19T15:01:14","modified_gmt":"2024-07-19T09:31:14","slug":"ways-to-prevent-home-loan-applications-from-getting-rejected","status":"publish","type":"post","link":"https:\/\/tata-blog.osian.dev\/blog\/loan-for-home\/ways-to-prevent-home-loan-applications-from-getting-rejected\/","title":{"rendered":"Ways to prevent home loan applications from getting rejected"},"content":{"rendered":"\n<p>A large number of home loan applicants get the shock of their lives when they discover that their application has been rejected. There are many&nbsp;reasons for which your home loan can be rejected by a lender or a bank. The best way to prepare for such a situation is to prepare in advance so that all holes are covered when it comes to your loan application.<\/p>\n\n\n\n<div class=\"wp-block-button aligncenter\"><a class=\"wp-block-button__link has-vivid-cyan-blue-background-color has-background wp-element-button\" href=\"https:\/\/tata-blog.osian.dev\/home-loan.html\">Know More<\/a><\/div>\n\n\n\n<p><strong>Never keep unpaid dues<\/strong><\/p>\n\n\n\n<p>Home\nloan applications are often cancelled when credit history check reveals unpaid\ndues. To clear this condition, always be punctual with payments. Never miss a\ndeadline on EMIs and credit card dues.&nbsp; In this small way, you can ensure\nyour home loan application is one-step closer to approval.<\/p>\n\n\n\n<p><strong>Avoid heavy debt<\/strong><\/p>\n\n\n\n<p>Home\nloans are given when the lender is comfortable with\nyour capacity and intention to repay. If you have more debt, your existing\nrepayments may make it look difficult to repay new home loan EMI. Hence, don&#8217;t\ntake too much debt even if they are offered at lip-smacking rates.<\/p>\n\n\n\n<p><strong>Stick to jobs longer<\/strong><\/p>\n\n\n\n<p>Job\nstability is a big factor for long-term\nloans. Changing too many jobs reflects poorly on the home loan application. So, stick to jobs longer and apply for a\nhome loan once you are 2-3 years with. current employer. Also, the reputation\nof your employer is important. So, avoid seeking employment in a company that\nhas a questionable track record.<\/p>\n\n\n\n<p><strong>Avoid being a loan guarantor to others<\/strong><\/p>\n\n\n\n<p>Being\na loan guarantor to someone can sometimes be risky. If the person doesn&#8217;t pay\nthe loan back, the onus to repay is on you as a guarantor. You may have gone to\na different city to live, not knowing the original borrower has defaulted. This\nis recorded on your credit history and can lead to home loan application\ngetting rejected. The safest way is to avoid\nbecoming a guarantor altogether.&nbsp;<\/p>\n\n\n\n<p><strong>File regular Income Tax Returns<\/strong><\/p>\n\n\n\n<p>Banks\nand financial institutions are uncomfortable about lending to individuals who\nfont file income tax returns or ITRs. Build a&nbsp;clear track record of filing\nincome tax returns of the last two years, before applying for a home loan. The\nITR also serve as a document for demonstrating your income credentials. So, pay\ntaxes and file returns on time.<\/p>\n\n\n\n<p><strong>Pick up verification calls<\/strong><\/p>\n\n\n\n<p>Many\nhome loan applicants give wrong telephone numbers or don&#8217;t pick up calls from\nlenders when they come during the application\nprocess. In case, the financial institution calls you repeatedly and every time you are away at work or busy\nelsewhere, they simply consider it as \u2018no response\u2019. So, be sure to give\ncorrect numbers and pick up calls.<\/p>\n\n\n\n<p>Get NOC on all previous loans It is highly important that you get a NOC or No Objection Certificate on any or all previously closed loans. Rejections on your <a title=\"Home Loan\" href=\"https:\/\/tata-blog.osian.dev\/home-loan.html\">home loan<\/a> application may occur if one does not provide a NOC. It&#8217;s better to get NOCs from every loan provider once you have closed the loan. Keep these documents safely. <\/p>\n\n\n\n<div class=\"wp-block-button aligncenter\"><a class=\"wp-block-button__link has-vivid-cyan-blue-background-color has-background wp-element-button\" href=\"https:\/\/tata-blog.osian.dev\/home-loan.html\">Apply for Affordable Housing Loan<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>A large number of home loan applicants get the shock of their lives when they discover that their application has been rejected. There are many reasons for which your home loan can be rejected by a lender or a bank. The best way to prepare for such a situation is to prepare in advance so that all holes are covered when it comes to your loan application.<\/p>\n<p><a href=\"https:\/\/tata-blog.osian.dev\/blog\/home-loan\/ways-to-prevent-home-loan-applications-from-getting-rejected\/\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":5678,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[25],"tags":[],"class_list":["post-5676","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-loan-for-home"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.13 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ways to prevent Home Loan Applications from getting rejected \u2013 Home Loan Blog \u2013 Tata Capital<\/title>\n<meta name=\"description\" content=\"Tata Capital educates users on ways to prevent home loan applications from getting rejected. 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It\u2019s always advisable to be prepared in advance when it comes to home loan applications and tips to help you faster approval.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/ways-to-prevent-home-loan-applications-from-getting-rejected\/\" \/>\n<meta property=\"og:site_name\" content=\"TATA Capital Blog\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-28T16:03:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-19T09:31:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.tatacapital.com\/blog\/wp-content\/uploads\/2020\/01\/couple-home-house.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"770\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tata Capital\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tata Capital\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/ways-to-prevent-home-loan-applications-from-getting-rejected\/\",\"url\":\"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/ways-to-prevent-home-loan-applications-from-getting-rejected\/\",\"name\":\"Ways to prevent Home Loan Applications from getting rejected \u2013 Home Loan Blog \u2013 Tata Capital\",\"isPartOf\":{\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#website\"},\"datePublished\":\"2023-08-28T16:03:14+00:00\",\"dateModified\":\"2024-07-19T09:31:14+00:00\",\"author\":{\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/5ccf99347b9365e2fa68bd32006d0b4a\"},\"description\":\"Tata Capital educates users on ways to prevent home loan applications from getting rejected. 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