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Top 3 Reasons that can lead to home loan disapproval
Posted by imgcindia7 on December 11th Telvin Smith , 2017


Conditions for eligibility for a home loan in India are more or less the same for every home loan provider. However, some providers might require you to fulfill certain other eligibility conditions as well. When you apply for a personal loan, home loan, or any other loan, the loan provider judges your capability of repayment according to various factors like age Nick Foles , employment, income, etc.


There can be conditions under which a home loan application might be turned down. However, it is important to know exactly what the reason behind the disapproval was, as it can happen again Jacksonville Jaguars Jersey , if you do not take steps to make it right.


Knowing about the common reasons of home loan disapproval can help you stay well-prepared. This is of course, apart from checking the basic conditions of eligibility for home loan in India.

1.Low credit score


Creditworthiness is the most important aspect of loan approval. Obviously, a loan provider will offer a loan to a borrower who has a stable repayment capacity. The creditworthiness of a person is adjudged according to the borrower’s credit score. Your credit score details your borrowings in the past, such as loans and credit cards, as well as your repayment record. So Malik Hooker , to get a loan approved, a borrower needs to have a good credit score. A good credit score can be achieved by paying loan EMIs and credit card bills on time. In case your credit score is too low, you may be denied a loan.

2.Low repayment capacity


Repayment capacity is calculated by dividing your monthly take home salary (including other income sources as well, such as rent) by the debts you have (such as other loans, expenditures Darius Leonard , etc.). Lenders consider your monthly emoluments in order to make sure that you will be able to pay back the loan within time. Generally, lenders allow an EMI up to a maximum of 35-40% of an individual’s salary. If your monthly take home salary is less and doesn’t allow you to repay EMIs, you might be denied a home loan.

3.Unstable employment record


Lenders provide loans to borrowers who show stability in their employment. As a condition for eligibility for home loan in India, borrowers need to have a certain number of years of work experience at their current workplace. While changing jobs isn’t an issue with loan providers, lenders approve loans to borrowers with at least a year or so of work experience at their current company. If your employment experience shows instability at your workplace Andrew Luck , lenders can turn down your home loan application.

Understand the eligibility criteria and requirements of a home loan before you apply for one, to ensure that the process is hassle-free. If you’re having issues with home loan accessibility and are looking for an extra amount home loan, which your repayment capacity doesn’t satisfy, you also can try going for a mortgage guarantee backed home loan.

Business Continuity and Disaster Recovery聳 Similarities and Differences

Posted by alvina12 on March 30th, 2018


BCDR or Business Continuity and Disaster Recovery has been considered as a single term as the business and technology expert do not work in isolation but work collaboratively


Business Continuity Vs. Disaster Recovery:


There are certain differences between Business Continuity versus Disaster Recovery which are:


1. Business continuity is a proactive approach that involves the implementation of procedures which would enable the business continue the functions that are critical to its mission Peyton Manning , even during a disaster and after it. Its plans to tackle the long-term challenges necessary for organizational success.


After the occurrence of an accident, the organization takes specific steps to make sure that the operations can be resumed smoothly. This is known as disaster recovery.


2. Business continuity involves the whole organization but disaster recovery deals mainly with the technology infrastructure.


3. Disaster recovery forms a part of the larger business continuity planning that mainly deals with the data access after a disaster.


Business continuity also has this component, but it deals with the risk management and other plans which are required for an organization to continue its business uninterruptedly after a disaster.


The similarities between Business continuity and disaster recovery:


Usually, the teams involved in Business continuity and Disaster recovery are same. The similarities between them are:


1. They deal with any kind of unplanned attack that might occur due to human error or natural disaster


2. The goal of both the events to keep the business running normally when a disaster occurs, focusing especially on the applications that are critical to its mission.


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