When you apply for a home loan, the chances of getting your application approved depends largely on whether you meet the lender-specific requirements. Some of the important eligibility criteria the lenders have, include high credit score, a steady income, stability in employment, etc. However, sometimes, if you meet the eligibility requirements, the lender may ask you to get the home loan documents signed by a guarantor. Generally, the lenders ask for a guarantor under the following circumstances: If you apply for a higher loan amount that is beyond the lender’s policies. If you have a low credit score or if the score does not meet the lender’s minimum score requirement. If you have a poor credit history, i.e., you have defaulted on your payments befo
Read More