When you apply for a mortgage, you must meet several requirements. Once you settle for a property, the lenders will start looking into your financial situation.
They will check your monthly income, how long have you had your current job, your savings, and the status of other credits you may have.
To be able to apply for home loans you will also need a cash deposit.
Generally, most financial institutions will lend you up to 80% of the property value. The rest of the 20% represents the cash deposit, the money you have to come up with.
If you want to learn more about lending criteria or features and whether you are eligible for credit products before speaking with mortgage brokers or credit representatives, you can use an online home loan products eligibility calculator.