How much CIBIL score is needed for LIC HFL home Loan?

POSTED BY upandey ON March 3, 2014 3:13 pm COMMENTS (2)

I have applied for LIC HFL home loan. On advise of my colleague, I checked my CIBIL score and it is 755. As per my colleague it is a weak score and may result in rejection.

Please advise, how much is a good CIBIL score for home loan and what other things I should check in Credit History?

2 replies on this article “How much CIBIL score is needed for LIC HFL home Loan?”

  1. Credexpert says:

    Dear Upandey,

    As an industry practice, credit scores above 750 are considered to be good. Anyways, the approval of your home loan application would be at the discretion of LIC HFL based on their credit policies and hence would be difficult to comment on.

    The general point to look for in your credit report are:
    1) Late payments
    2) High outstanding balances
    3) High no. of unsecured loans
    4) High no. of enquiries

    Regards,
    Credexpert
    http://www.credexpert.in

  2. ashalanshu says:

    Dear Upandey, what is your detailed credit report from CIBIL? Do you have any negative entry like DPD, Settlement of loan, Written off?

    Thanks

    Ashal

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