Tips for Securing a Loan Against Property with a Low Credit Score

Nargis30 Nov, 2024Finance

Getting a loan against property with a low CIBIL score in India is possible but challenging. Lenders mainly focus on the property's value and the applicant's income. While a low credit score may lead to higher interest rates or a smaller loan amount, some lenders may still approve the loan if other factors, like the property's location and repayment capacity, are strong. Providing a co-applicant with a better credit score can also improve eligibility. However, applicants should be prepared for stricter terms and higher costs.