Taking a home loan is one of the most crucial steps of building or buying a new house. It involves a lot of research, documentation and decision making and if you are not fully prepared, then your loan application might get rejected. Banks also follow stringent application process to assess the repayment capacity of borrowers, which often leads to rejection of the home loan application. Hence, it is important to be aware of the reasons that might impact the approval of the same.
We have listed a few reasons for which your home loan can be rejected: