6 Steps to Boost Your PNB Housing Loan Eligibility

To become a homeowner is a dream for many. However, buying a house also involves a huge cash outflow which many people cannot afford as it will create a dent in their budget. So, a large number of people avail a home loan in order to turn their dream of becoming homeowners into reality. If you are availing of a home loan for the first time, then to understand the housing loan eligibility, you need to do some research beforehand.

man writing on paper

Based on your credit score, loan application and other details, banks or financial institutions assess the maximum loan amount you are eligible to borrow and accordingly approve your loan application.

So, it becomes essential for a home loan applicant to understand the ways in which one can enhance their home loan eligibility.

Below are listed 6 ways that can boost your PNB Housing loan eligibility:

  1. Improve your credit score:

When you apply for a home loan, one of the first things that the lender checks are your credit score. Usually, for a home loan, any credit score of 750 and above is considered good. To have a good credit score, you need to ensure that all your existing loans are being repaid on time. Settling your credit card dues and other existing loans on time reflects your seriousness in settling debt and boosts your credit score.

  1. Add a co-applicant:

Adding a co-applicant in your home loan application, not only boosts your home loan eligibility but also the burden of repayment is divided between two people. However, one must ensure that the co-applicant also has a good credit score.

  1. Declare other sources of income:

If you have any other sources of income, such as rental income, or being a salaried employee, if you have any part-time business income, declaring such additional sources of income can help you in securing a higher loan amount as higher the income, higher is your repayment capacity.

  1. Higher down payment:

A bank or financial institution never grants the full cost of your house as a home loan. Usually, 75% to 90% of the cost of the house is covered by the loan and the remaining funds must be brought in by you. So, the higher the down payment you make, the lower will be the loan value, and therefore lower will be your interest payable.

  1. Avoid frequent job changes:

If you are a salaried person and are planning to avail PNB home loan, then frequent job changes must be avoided as this reflects instability. Therefore, plan well in advance so that you can show continuous service in an organization.

  1. Choose the right lender:

Compare the loan offers that are being offered by different banks and financial institutions. Choose the one that is the most beneficial for you and build a good relationship with the lender. This will help boost your home loan eligibility.


By implementing the above steps, you can improve and increase your chances of qualifying for a home loan. It also makes you eligible for a higher loan amount. By establishing a good relationship with your lender, you can even get an extended tenure and better terms and conditions. So go on and make that dream of yours come true.