Home Loan

[senthil_muthukumar]

Hi,

I am looking out for a home loan in my Wife's name. with a good credit score (750 + ) working in a MNC.
I have a loan settled with ICICI & my CIBIL score is very low.


Is it mandatory for me to appear in the home loan application as a co applicant? ( I don't want to , as it leads to failure)

[cardbhai]

Working Couples Usually take Joint Housing Loan so that both can avail Tax Exemption for their part of the EMI. Make Sure your wife's CIBIL Score is at least 750 for the loan to be approved.

What I suggest is, process the Loan Application completely in her name only. I think her take home salary must be atleast twice the EMI for it to be approved [Check out on how much it is from any Loan officer verbally]

After 2 years, you can shift the Loan to some other Bank in both of your names when your credit score would have improved and once again this will be a boon in establishing your credit history.

Good Luck!