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Secure a Loan Against Property (LAP) Easily

A loan against property can meet large funding needs effectively. Find out how to get one.

HeroFinCorp
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Secure a Loan Against Property (LAP) Easily

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  1. Secure a Loan Against Property (LAP) Easily

  2. What is LAP? • Loan secured against a residential or commercial property. • Less risky for lenders than unsecured loans, as property can be sold in case of default. • LAP gets easily approved and the amount is large. • Both salaried and self-employed individuals can apply.

  3. LAP Eligibility If you are salaried, you should be: • Between 24 and 60 years of age. • Employed with a reputed company, like MNC. • Indian resident. If you are self-employed, you should: • Be between 24 and 60 years of age. • Have steady income flow for 6 months to a year, till loan application. • Be Indian resident or own property in India.

  4. Tips to Secure LAP Easily • Interest Rate - Research and compare lenders to land attractive interest rate and maintain a good credit score for negotiation. • Tenure – Choose long tenure for affordable EMIs and short ones for quick repayment. • Loan amount – Compare loan to value ratios of different lenders to get maximum loan amount, but only what you can repay.

  5. More Tips to Secure LAP Smoothly • Property condition – Ensure your property is in good shape and the paperwork is in place. • Loan agreement – Check for adverse clauses, hidden costs, and penalties. Find out what happens if you miss payments or default. • Processing and disbursal time – Make sure you get the loan amount by the time you need it.

  6. LAP Documents for Self-Employed Borrowers • Proof of income - Documents showing the business to be 5 years old at least, ITR, account statements, tax audit report. • Proof of identity – Aadhaar Card, driving license, Government employee ID, Voter ID, PAN Card, Passport. • Birth date proof: Driving License, SSC mark sheet, birth certificate, Aadhaar Card. • Proof of address: Telephone bill, gas bill, property tax receipt, voter ID, electricity bill.

  7. LAP Documents For Salaried Borrowers • Proof of income – Form 16, pay slips, account statements. • Proof of identity/address/signature/date of birth: Same as self-employed.

  8. Why Apply For LAP Today? • Meet major expenses without liquidating investments. • Get the loan easily by pledging an idle property. • Repay comfortably over a long time.

  9. Thank You !Would Love to Hear From You Hero FinCorp Limited 09, Basant Lok, Vasant Vihar, New Delhi - 110057 Tel. 18001024145 Email Id: Corporate.Care@HeroFinCorp.com Website: https://www.herofincorp.com/ Know more- Securing a Loan Against Property Made Easy

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