Loan against Property Eligibility Criteria and Documents Required - Finheal

Loan against property (LAP) is also known as 'Home Equity Loans' and is a kind of loan against the security of one's property. Loan against Property is considered to meet the financial needs of a person who before now has a house, which is free from any burden.

Loan against Property Eligibility Criteria:

• ·         You are an Indian Resident
• ·         You are at least 25 years of age when the loan is approved
• ·         You are a self-employed professional with a regular source of income
• ·         Property should be freehold and map approved
• ·         The minimum loan amount is Rs. 30 Lakh for Delhi NCR

Documents Required

• ·         ID proof (PAN Card, Driver's license, Voter ID, Passport, Aadhar)
• ·         Address proof (Electricity bill, Telephone bill, Ration card, Bank statement, Credit card statement)
• ·         Passport Size Photo
• ·         3 month's Salary slips
• ·         3 month's Bank statement
• ·         Last 2 years form 16
• ·         Sale Agreement
• ·         Property documents
• ·         Receipt of Booking/Advance payment (If any)