Everyone planning or already applying for a loan against their property have certain expectations. For instance, a majority of loan applicants would want the mortgage loan interest rates to be on the lower side. On the other hand, there would be people who would expect their lenders to offer a higher loan amount as loan. Now, irrespective of what your expectations truly are; below are some tips which can help you fulfill them while taking a mortgage loan.


  1. Maintain a Good CIBIL Score and an unblemished credit history: Though credit score hardly influences a mortgage loan, it certainly helps the lender gauge your repayment abilities. Beside, a good credit score combined with an equally unblemished, convincing repayment history can work wonders for you and might get you the best interest rate deals from your lender.

  1. Check your eligibility and ask for less: Second important tip is: ask for what you really need. Avoid taking more than 40-50% of what your actual loan eligibility allows you. That said, how would you know how much you’re eligible for? You can use mortgage loan eligibility calculator.

  1. Mortgage a high-value collateral: If you need more than 40-50% of your loan eligibility as loan, the simplest way is to mortgage a collateral of higher value. It will directly boost your loan eligibility and you’ll be able to borrow more without affecting your CIBIL score.

Bottom line: Lastly, avoid making credit request if you don’t really need one. Making credit requests decreases your credit history.