Mortgage Loan {LAP}
Unlock Your Property’s Potential, Fulfill Your Dreams!
“A Loan Against Property (LAP) is a type of secured loan in which a property, typically residential or commercial real estate, is used as collateral to secure the loan”
Mortgage Loan Features & Benefits
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High-value financing
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Convenient tenure
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Foreclosure facility
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Attractive rate of interest (ROI) starts from 8% p.a
Business Loan Eligibility
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Age : 21 – 60 years Age : Minimum Age: An 21 years and Maximum Age: 70 years
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Nationality : Indian citizen both [resident or non-resident]
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Occupation : Salaried and self-employed individual.
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Credit Score : at least 700+
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Property Ownership : The individual must be the legal owner of the property.
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Property Type : Property should be a residential or commercial property. Some banks & NBFC have some specific criteria regarding the type of location of property.
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Legal clearance : Property should have clear legal titles, and there should be no disputes or litigations associated with it.
Required Documents for Mortgage Loan
KYC –
- Aadhar card, Pan card, Photo
Identity Proof –
- Passport, Aadhar card, Voter ID, Driving license
Address proof –
- Aadhar card, Rental agreement, Utility bills, Voter ID
Income proof For Salaried -
- latest 3 months salary slip, Form 16 and income tax returns for the last 2-3 years
Income proof For Self Employed -
income tax returns for the last 3 years, Profit & Loss statement, Balancesheet, Business Registration Proof
Bank Statement –
- For Salaried – Latest 6 months bank statement
- For Self Employed – Latest 1 year bank statement
Coapplicant –
- Coapplicant 2 photos, KYC
- Loan account statement
Legal and Technical Documents -
- No-objection certificate (NOC), Property valuation report,Legal opinion on the property
Property Documents for Mortgage Loan
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Sale deed
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Title deed of the property
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Property tax receipt
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Possession letter