Apply For Loan Against Property in Bahadurgarh
Loan Against Property (LAP) is a secured loan where individuals can leverage their owned property, whether residential or commercial, to avail a substantial loan amount.
Apply For Loan Against Property
Avail Loan Against Your Property
Need Money? Use your property to fulfil your financial needs and desires! Home Equity Loan from Aavas in nothing but Loan Against Residential property (LAP) Loan against property is one of the best ways to take a loan for all your financial needs. Whether you need funds for higher education, marriage in the family or any medical expenses property mortgage loan is one of the fastest ways to secure a quick loan for fulfilling your immediate monetary needs. Explore this guide on how to get an easy Loan against property.
Benefits of Loan Against Property
Loan Against Property benefits are numerous, making them an attractive option for aspiring homeowners. Here are some key advantages.
Competitive Interest rates
Loan Against Property typically usually has lower interest rates compared to other unsecured loans.
Higher Loan Amount
Depending on the value of the property, the borrower can avail a higher loan amount.
Repayment Tenure
By investing in tailored features and modern amenities, you enhance the overall value of your property.
Turn Your Property Into a Valuable Asset For Your Dreams.
Documents Required for Home Loan
Identity Proof
Your PAN Card is mandatory, and any one of these:
• Passport
• Voter ID
• Aadhar Card
• Driving License
Address Proof
• Passport
• Voter ID
• Aadhar Card
• Electricity bill/ water bill/ telephone bill
• Driving License
Proof of Income
• Salary Slips/Bank Statement/Form 16
• Salary Certificate
Other Documents
• Signed Application Form with Picture
• Cheque For Processing Fee
• Bank Statement of Last 6 Months
Property Documents
• Title Deeds of the Property
• Proof of No Encumbrances on the property
Identity Proof
Your PAN Card is mandatory, and any one of these:
• Passport
• Voter ID
• Aadhar Card
• Driving License
Address Proof
• Passport
• Voter ID
• Aadhar Card
• Electricity bill/ water bill/ telephone bill
• Driving License
Proof of Income
• IT Returns and/or Financial Statements of last 3 years And/or
• Informal Income Documents
Other Documents
• Signed Application Form with Picture
• Cheque For Processing Fee
• Bank Statement of Last 6 Months
• Proof of business existence
Property Documents
• Title Deeds of the Property
• Proof of No Encumbrances on the property
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Frequently Asked Questions For Loan Against Property
Loan against property is another word for a mortgage loan and is availed by the salaried and the self-employed to meet their personal and business requirements.
Loan against property, also known as LAP, can be availed to meet the fund requirements for business needs, medical emergencies, a child-s education, or for any other personal loan requirement.
A person aged between 18-70 years is eligible for a loan against property. Please note that factors like age, the value of the property and income of the applicant etc., also affect the eligibility for the loan against property.
The applicant must follow the following steps to apply for the Loan against property
Fill up the application form
Submit the required documents such as land documents, age and residence proof and income details.
On successful submission of the application, deposit the processing fee
After loan approval, you will get the required home loan.
The property against which the loan is being taken is the actual security that needs to be provided to avail the said loan option.