Financial consultants play a critical role in helping first-time home buyers make informed decisions, yet many still rely on unverified advice when applying for a home loan. At DS Consultants, with over 25 years of experience in lending and real estate, we’ve seen how depending on the wrong sources can lead to confusion, rejection, or poor loan terms.
The bank where they receive their salary
A builder’s preferred lender
Advice from friends or colleagues
While well-meaning, these sources don’t always provide a complete picture—leading to confusion, rejections, or poor loan terms.
Common Mistakes First-Time Buyers Make
Even financially stable buyers with excellent jobs often make these missteps:
Choosing a lender just because they have a salary account there
Paying booking advances before checking loan eligibility
Trusting verbal promises from agents or builders
Applying for a loan without complete documentation
Assuming a high CIBIL score guarantees approval
Real Case: Buyer Almost Lost His Dream Flat
A first-time buyer in Bangalore booked a ₹70L apartment in a premium gated community. He planned to fund ₹35L through a home loan and trusted an agent’s verbal assurance that the loan would be approved based on salary alone.
Here’s what happened:
Paid ₹2L booking advance
Signed the sale agreement with 10% payment
Then applied for the loan
Within two weeks, he received a shocking SMS:
Loan Rejected — Insufficient Income Documentation
The agent stopped responding. The builder demanded payment. He was left in panic.
How DS Consultants Rescued the Case
Through a personal reference, he contacted DS Consultants. We requested his documents and ran a full eligibility analysis.
What we found:
Excellent CIBIL scores (793 and 743)
But missing Form 16 and ITRs — essential for most banks
Salary was being credited, but the documentation was incomplete
What we did:
Reached out to our partner NBFCs who accept alternate documentation
Secured approval with slightly higher interest but quick processing
Assisted with legal due diligence, builder coordination, registration, and disbursement
Educated the client about sub-registrar charges, service fees, and taxes
Result: He secured his home loan and moved forward with peace of mind.
Lessons for First-Time Home Buyers
Always check eligibility before paying any advance
Never rely on oral commitments — ask for proof
Prepare essential documents: salary slips, bank statements, Form 16, ITR
Compare offers across banks and NBFCs — don’t limit yourself
Work with an experienced financial consultant or real estate advisor who understands the market
Why DS Consultants Is Trusted Across Bangalore & Kerala
25+ years of experience in real estate and financial consultancy
Partnered with 70+ banks, NBFCs, and housing finance companies
Experts in flats, villas, independent houses, plots, and construction loans
Transparent processes with full documentation support
Recognized as reliable real estate consultants in Bangalore
Let Us Help You Buy Your First Home — The Right Way
Whether you’re a salaried employee, business owner, or NRI, our experiance in Financial consultants simplify your loan journey and give you complete confidence from day one.
Call/WhatsApp: +91-8310979804
Visit us at: dsconsultants.org
