Borrowers opt for a loan against property to avail high-value amounts for their personal expenses or consolidate debts. Lending institutions disburse this loan to individuals who meet the loan against property eligibility criteria. Visit: https://www.bajajhousingfinance.in/loan-against-property-eligibility-and-documents

1. Top 5 Factors Affecting Your
Loan Against Property
Eligibility Criteria

2. Ideally, an individual prefers low interest
on loan against property so that he can
curtail his EMI burden. Therefore, by
closing existing loan deals, a borrower
can increase his chances of obtaining a
loan at the lowest interest rates.
1.Existing Loan

3. Lending institutions check an applicant’s credit
history as vital eligibility criteria for a loan
against property. Therefore, any dues or defaults
in the past can affect a borrower’s credit score
negatively.
2.Credit Score

4. Lenders often grant a substantial loan amount to
those who can show sufficient income sources.
Adding a co-applicant during a loan application
can increase an individual’s loan against
property eligibility as more income is available
for loan repayment.
3.Co-Applicant

5. Before sanctioning a sizable loan amount,
financial lenders check a borrower’s repayment
capacity by evaluating his income sources.
Owing to that, some lenders consider rental
income as part of an individual’s net income.
4.Rental Income

6. An LTV ratio is the percentage of a property’s
market value that lenders set as the maximum
loan cap for potential applicants. A borrowers
must check property loan to value ratio before
purchasing it.
4.Property Loan-to-Value Ratio

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