A Home Loan is a certain amount of fund which is borrowed from the lender against a residential property to be bought. It is usually taken for the purchase, construction or renovation of a property.
Your Home loan eligibility is determined after looking at the following:
Your current income
The nature and continuity of your employment
Your current obligations i.e. the other installments ( EMIs) you are currently paying, the number of credit cards and credit limits you have or use
Your past credit history