Buying a home is a dream for many, but if you have a low CIBIL score, that dream can feel out
of reach. The good news? Getting a home loan with a low CIBIL score is possible — but it
requires the right strategy and guidance.
In this blog, we’ll explore what a CIBIL score is, how it affects your home loan eligibility, and
what options you have if your score is on the lower side.
What is a CIBIL Score and Why Does It Matter for a Home Loan?
Your CIBIL score is a three-digit number that represents your creditworthiness. It ranges from
300 to 900, and lenders consider anything above 750 as ideal. If your score is lower, it means
you’ve either missed payments in the past, have high credit usage, or lack a strong credit
history.
When applying for a home loan, lenders check your CIBIL score to assess your risk as a
borrower. A low score may result in:
● Rejection of your home loan application
● Higher interest rates
● Lower loan amount eligibility
Can You Still Get a Home Loan with a Low CIBIL Score?
Yes, you can get a home loan even if your CIBIL score is low. Here’s how:
- Apply with an NBFC or Housing Finance Company
Unlike traditional banks, NBFCs and private lenders may offer home loans to low CIBIL score
holders with flexible terms. They focus more on income stability than just credit score. - Add a Co-Applicant
Applying for a home loan with a co-applicant (spouse, parent, or sibling) who has a good credit
score can increase your chances of approval. - Offer a Higher Down Payment
Lenders may be more willing to give you a home loan if you reduce their risk by making a larger
down payment, usually 30–40% of the property value. - Improve Your CIBIL Score
If your score is just slightly below the required level, take a few months to:
● Pay off outstanding EMIs or credit card bills
● Avoid taking new loans
● Check your credit report for errors and fix them
Once your score improves, re-apply for a home loan with better terms.
Conclusion
At Jisha Finserv, we believe that a low CIBIL score shouldn’t stand in the way of your home
ownership goals. Our experienced loan experts are here to guide you at every step — from
identifying the right lenders to crafting a personalized home loan solution that fits your financial
profile.
