Can a person have a personal loan and a home loan simultaneously?

Can a person have a personal loan and a home loan simultaneously?

Currently, there is no such rule as that a person can only avail of one loan at a time. A person can take one or more than one loan at a time. An excellent credit score, for example, 750 and above will make them eligible for applying for loans. The idea of applying for a personal loan and home loan can make you feel intimidating, but applying for both of these at the same time could be beneficial. You should also check that your debt to income ratio is in limit and should not cross 50% of your monthly income. If these options are not enough then you can apply with someone like your parent or spouse for a joint loan, which will make the lender sure of your timely payments.