For many people paying the total cost of the new house in one go is impossible. Here Property Loan or Home Loan gives a big support to buy your new house. Home loan can help you in many ways, it can be helpful for purchasing a new home or constructing an existing residential property.

Advantages of Home Loan

• Lower interest rates as its secured loan.
• Helpful for all Home related expenses.
• Greater Credit Eligibility.

Minimum Requirements for Home Loan (Self Employed Business):

• Annual Revenue 50 Lakhs
• Credit Score
• Time In Business Two years

Documents Required For Home Loan (Self Employed Business):

• Pan Card / Pass Port
• Processing Fee Cheque
• Bank Statement
• Aadhar Card
• Colour Photo
• Copy Of Property Documents
• Latest OD/ CC Sanction Letter
• Last Two Years Balance Sheet
• Last Two Years Profit & Loss Account
• Last Two Years Income Tax Retune
• Proof Of Business

Documents Required For Home Loan (Salaried):

• Pan Card / Pass Port
• Processing Fee Cheqe
• One Year Bank Statement
• Aadhar Card
• Colour Photo
• Copy Of Property Document
• Last Two Years Form 16
• Latest Three Month Salary Slip
• Last Two Years Income Tax Retune
• Current Employment Certificate
• Current Job Appointment Letter (If It Is More Than Two Years
• Experience Certificate (Including Your Previous Job Certificate Or Appointment And Relieving Lettere)

Loan Against Property:

Loan against property (LAP) means a loan that is given or disbursed against the property. The loan is disbursed at a certain percentage of market value of the property, usually around 50% – 90%. Loan against property is the part of secured loan category where the borrower issues a guarantee by using property as security.

Advantages of Loan Aganist Property

• Lower interest rates as its secured loan.
• The loan amount can be used for Business Working Capital.
• Greater Credit Eligibility.

MINIMUM REQUIREMENTS FOR LOAN AGAINST PROPERTY

• Annual Revenue 1 Crore
• Credit Score
• Time In Business Two Years

Documents Required for Loan Against Property & Mortgage Loan:

• Pan Card / Pass Port
• Processing Fee Cheque
• Bank Statement
• Aadhar Card
• Copy Of Property Documents
• Latest OD/ CC Sanction Letter
• Last Three Years Balance Sheet
• Last Three Years Profit & Loss Account
• Last Three Years Income Tax Retune
• Proof Of Business