Loan Against Property – groptofincorp.com

Why Consider A Loan Against Property?

Mortage loan has become a great option for people to use.

A Loan Against Property (LAP) allows you to secure funds by mortgaging your property, following specific terms and conditions.

Age: Must be 21 or older at the time of application and up to 65 at loan maturity.
Employment: Available for both salaried and self-employed individuals.
Secured Loan: This loan is secured by your property, which acts as collateral.
Loan Amount: Based on the value of the mortgaged property and your income.
Credit History: A good credit history and score are required.
Multipurpose: The loan can be used for various purposes.

For the Applicant :

Aadhaar Card and PAN Card of property owners
2 passport-sized photographs of property owners
1 -year bank statement
Property documents with link deed
Recent Electricity Bill
For salaried individuals: Last 3 months’ salary slips, 2 years of Form-16, and a service or offer letter
For self-employed individuals: Business proof and 2-3 years of Income Tax Returns (ITR)
Co-applicant documents: Aadhaar Card, PAN Card, and 2 passport-sized photographs (if applicable)
Existing loan documents: Sanction letter and repayment schedule (if applicable)