How Your Home Loan Eligibility is Calculated

It was a busy morning for Prakash Chadda, as the month end was nearing. Files were piled up on his desk. Chadda was hunched over a bunch of papers with a magnifying glass held really close to his nose. He was a detective of a special kind.

Prakash Chadda was the credit manager of home loans at a leading private bank. His job is to scrutinize each and every document in home loan applications to filter out possible default cases and fake profiles.

How does Prakash decide the eligibility of the home loan applicants?

Read ahead to find out how home loan applications are scrutinized and processed.