Five little known reasons why banks reject loans!
Most of us are now aware of some of the critical reasons a bank might refuse a loan and gear up for it well before a loan needs to be sought! This is very true in the case of a home loan, which requires preparation on various fronts. You are likely to pep up your credit score, ensure you pay your credit card dues in full, on time, increase your income levels, close out previous loans etc. in preparation for the loan you plan to apply for. However did you know these are the not the only reasons you might face a loan rejection for? There can be others for which you may not be directly responsible. Yet you need to be aware of them to understand how you can tackle the issue if it arises in your case and obtain a loan without any hassles. The views in this article are based on standard underwriting principles as applicable in US, European and Indian markets and not reflective on any particular institution in any country.
You are a compulsive impulsive job hopper who does not stay in a job for more than a few months!