Factor What It Means
Age Younger applicants are usually granted high value loans with longer tenures as against applicants who might be close to retirement.
Income The applicant's income helps determine their ability to repay the loan. Therefore, the higher the applicant's income, the higher the loan amount they're able to apply for.
Type of Employment The applicant's employment status directly impacts the success of their application as it affects their ability to repay the loan. A reliable applicant is one with a steady stream of income or a stable business.
Credit Score or Payment History The applicant's credit score and payment history help lenders evaluate their ability to repay the loan comfortably.
Qualification and Experience Higher academic qualifications and work experience can increase an applicant's chances of getting a home loan.