A home is one of the most popular investments that you can do in your entire lifetime. It is important to understand your capacity to handle a high-value loan like a home loan that has been going on for more than 20 years. When you take a home loan or house renovation loan, it becomes extremely important for you to cover all the expenses in the right way. What makes a home loan expensive is the rate of interest. The idea should be a low rate of interest to make the EMI affordable and easy to pay. You need to choose the right EMI with a low rate of interest. Here is how you can get a low rate of interest on your home loan.

Avoid high home loan rates of interest in the following ways:

A home loan is an ideal one when you opt for a joint loan. A joint loan is a type of loan that is taken by the partners. It is critical in the event that you are unable to provide income proof to the loan provider. It is important for you to make sure that you are taking a joint loan with your partner who has a good credit score and the income is also high. A joint loan makes you eligible for a home loan at a low rate of interest as well. So, if you don’t have your income proof, you can go for a joint home loan.

A home loan can be taken with a loan guarantor when you do not have income proof. When you don’t have income proof, you will have to take the help of a loan guarantor. It will be an important thing for you as you need to find someone that takes guarantee your loan. For individuals without income proof, this is a way to get a home loan.

Add security:

If you are purchasing a property with the help of an asset, such as a property, you can easily get a home loan. This will secure your home loan and it will be easy for you to get a home loan without any hurdles. Make sure you have a property that you don’t use to get a home loan.
Documents: Documents will be very important. You need to have all your documents if you are eager to enjoy the perks of having a pre-approved home loan. Do not miss out on even one document that may lead to a delayed response.


Get a stable employment opportunity when you are eager to buy a home with a pre-approved loan. You need to stick on and work to get a stable income and your employment nature should be permanent.

Determine Your Budget:

You need to set your budget. You will get a house that can be in lakhs as well as in crores. You need to understand your ability to pay the loan and afford the budget. Depending on your budget, you will have a rate of interest too. When you opt for a high rate of interest, the risk will be high and so will the interest rate. Make sure you take care of the rate of interest. Choose the amount that will not become a burden on you. Do the down payment as much as you can so that the principal loan amount is low.

Start looking for a home:

Show up some of the home listings and contact a reputable builder, and you will soon get some amazing listings. When you keep seeing home properties early, you will surely find a good deal that is affordable for you. A low amount loan will have low risk and offer you a low rate of interest that helps you with an affordable EMI every month. It is an easy task online and you will soon get some good properties.

Credit score:

A good credit score indicates good credit health. Based on a good credit score, the eligibility of an individual is judged by the loan provider. If you have a good credit score, you can easily get approval for a home loan as well as a low rate of interest. It will help you explore the best home loan products and grab the best deal. For a home loan provider, a good credit score means a borrower can handle the loan on a good note.


If you want to repay your home loan on a good note, you need a good income. High income means low risk so that you get a low rate of interest. Income stability is very important and you need to maintain it. This is why people take the time to buy a home. You must increase your source of income so that the loan provider can ideally trust you with such a huge amount of money.

Wrapping up:

If you take a home loan from Clix Capital, you can be sure of getting a low rate of interest and an affordable EMI. For a house renovation loan too, you can always keep your eligibility high so that you are able to find the right value for borrowing.