Owning a luxurious home is a dream of every individual. For working professionals like engineers, purchasing a home is made easy with home loans. However, for this, a good credit score is required. For engineers, before applying for a home loan, it is best to check their CIBIL score and if it is low, here are a few tips to improve before finally applying for a loan to purchase a dream home.

Multiple applications: It is best to look for home loans available from different lenders in the market. Never apply for a loan from several lenders at a time as this reduces the score.

Repay dues: Before applying for the home loan, it is best to repay all the due payments. This increases the credit score when EMIs are repaid. If the repayment of a loan or clears a credit in one spot, this score gets a boost.

Avoid using credit limits: It is best to avoid using the full limit of the credit card. This boosts the score and rating.

Credit mix: Mix the secured and unsecured loans as this pump up the score. An unsecured loan is given before any collateral security and secured loans are approved against some collateral. Thus, mix them so that credit bureaus better understand the credit usage and improve the rating.

As an engineer, when following such tips and tricks before applying for a home loan, CIBIL score gets boosted and home loan is approved from top banks or NBFCs available in the industry.