Timely payments : Avoid missing your payments. If you are often late on your payments, it would show on your track record and this might become a problem with your mortgage lender. If you are considering taking a loan, be sure your payments are made regularly so that your history is clean enough for you to score a loan.

Employment history : The longer you have stayed in a job (at least two years at a stretch), it is more likely that your home loan would get approved. It shows the stability of a person so if you are planning to switch your job and simultaneously looking out for a property that may require you to take a loan, then defer your job switch until your loan gets approved. Once you have your loan in hand, you can always move on to something else but avoid doing so while in the middle of a loan transaction.

Minimise debts : Pay off as many of your debts as possible before you apply for a loan. Your debt to income ratio is considered when you apply for a home loan. The lesser debts against your name, the more favourable you would appear to your money lender.

Save enough : When you buy a property on loan, a part of the property value has to be paid in the form of down payment. So make sure you have enough savings in hand, at least 20 percent of the down payment, before you apply for a loan. Also the loan sanctioning takes time so you should have enough money to cover several months of your home loan payment. With savings in your hand, you are in a better position to face any financial difficulty.

About the Author
Properties Hut is a Real Estate and India Property Portal to buy, sell, rent commercial & residential properties in India. Kamaldeep Chandel may be contacted at http://www.propertieshut.com/loans/home-loans.html. Click here to view more articles by Kamaldeep Chandel.