As we all know the financial issue is the common problem that a human being faces. Some times we are trying to collect some funds from our relatives and friends but we do not get a positive response.if you have a property then you can avail loan against property this is the best option for you to make your self out from the financial problem. The interest rate of this type of loan is low then other lons.you can avail up to 75% fund of your property value.
3 Things to know before avail LAP
The evaluation process of the property:
The best thing about loans against property that you can take a loan on your property in which you are living or rented out. if multiple owners of a property then all should avail combine loan against that property. After applying for LAP the lander will evaluate the market value of that property some of the lenders offers up to 40%-70% loan, the amount will also depend on the property condition.
Loan against property interest rates:
The loan against property interest rate is low than the normal loan range from 9% - 15% per annum. it also depends on the lender to lender.
Eligibility criteria:
Every lender has different eligibility criteria but the basic eligibility are - the age is not more than 60 years, income proof, a credit score is also important to factor.
These are the things you should know while going for avail loan on your existing property.
Read More:
3 Essential Things to Know Before Taking a Loan Against Property
Things To Know Before Taking Loan Against Property
3 Things to know before avail LAP
The evaluation process of the property:
The best thing about loans against property that you can take a loan on your property in which you are living or rented out. if multiple owners of a property then all should avail combine loan against that property. After applying for LAP the lander will evaluate the market value of that property some of the lenders offers up to 40%-70% loan, the amount will also depend on the property condition.
Loan against property interest rates:
The loan against property interest rate is low than the normal loan range from 9% - 15% per annum. it also depends on the lender to lender.
Eligibility criteria:
Every lender has different eligibility criteria but the basic eligibility are - the age is not more than 60 years, income proof, a credit score is also important to factor.
These are the things you should know while going for avail loan on your existing property.
Read More:
3 Essential Things to Know Before Taking a Loan Against Property
Things To Know Before Taking Loan Against Property
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