Why choose HFCs over banks for a home loan

Credit scores don’t matter: Banks as compared to HFCs prefer to lend to borrowers with higher credit scores. This means that you have fewer chances of getting loan from a bank if you have a lower credit score. However, this may not hold for HFCs. Pavan Gupta, CEO, Muthoot Housing Finance Ltd, says, “HFCs are not too rigid about credit score. They take into consideration the practical aspect to understand why the score is low. HFCs look at the situation pragmatically and help their customers accordingly.”