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What is a Mortgage Loan Against Property? Benefits and How It Works

Discover how a Mortgage Loan Against Property lets you borrow money against your propertyu2019s value. This guide explains the loanu2019s benefits, eligibility criteria, and important details to help you make the right choice.More Info:https://bit.ly/3AHnOUj

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What is a Mortgage Loan Against Property? Benefits and How It Works

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  1. LOAN AGAINST PROPERTY www.investkraft.com

  2. Introduction Definition: A Mortgage Loan Against Property (LAP) is a secured loan where you pledge property as collateral. Purpose: Ideal for meeting large financial needs like business expansion, education, medical expenses. Key Benefit: Access to substantial funds while retaining ownership of the property. CONTINUE www.investkraft.com

  3. What is a Mortgage Loan Against Property? Secured Loan: Loan taken by mortgaging residential or commercial property. Loan-to-Value (LTV) Ratio: 50% to 70% of the property’s market value. Retention of Ownership: Property ownership remains with the borrower; lender gains repossession rights only in case of default. www.investkraft.com

  4. Key Features of Mortgage Loan Against Property Feature Description Loan Tenure Up to 15 years Lower due to secured nature Interest Rate Multipurpose: business, personal, or educational needs Use of Funds May take longer due to property evaluation Approval Time CONTINUE www.investkraft.com

  5. How Does It Work? Approval eligibility criteria and credit score. Process: Based on Property assesses market value. Evaluation: Lender 03 01 Repayment: Monthly EMIs on principal + interest. 04 LTV Ratio Application: Typically 50%-70% of value determines loan amount. 02 www.investkraft.com

  6. Eligibility Criteria Age: Usually between 21 to 65 years. Income Stability: Stable income stream (job or business). Credit Score: A score of 650+ improves chances. Ownership Proof: Applicant must legally own the property. www.investkraft.com

  7. Key Steps to Apply for a Mortgage Loan Against Property Property Valuation Application Submission Verification and Credit Check Approval and Disbursement www.investkraft.com

  8. Contact Us +91-9797971876 care@investkraft.com www.investkraft.com AG-7 Ground Floor, Block AG, Poorbi Shalimar Bag, Shalimar Bagh, New Delhi, Delhi, 110088

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