Housing loans

What are the most important factors to consider before applying for housing loans, especially for first-time home buyers? I would like to understand how eligibility is calculated, the role of credit score, income stability, and existing liabilities. How do fixed and floating interest rates differ in the long run, and which option is better in the current market? Additionally, what documents are usually required, and what common mistakes lead to loan rejection or higher interest rates? Please share expert advice, real experiences, and tips for choosing the right lender and loan tenure.