In this video, we’re going to present you all the pieces you want to learn about MORTGAGE LOAN and LOAN AGAINST PROPERTY (LAP) in Hindi.
We will talk about completely different matters like, what’s Mortgage Loan or Loan Against Property, classes of Mortgage Loan, Mortgage Loan Interest charges, paperwork required for Mortgage Loan, strategy of Mortgage Loan, all about Mortgage Loan utility kind, the best way to apply for Mortgage mortgage or Loan towards Property.
At begin, we’ve got mentioned two essential parameters of Mortgage Loan or Loan towards Property.
(1) Type of Property and Property Market Value.
There are 4 forms of Property.
– Residential
– Commercial
– Industrial and
– Open Plot
There are 3 sub-categories as effectively like Self occupied, Rented and Vacant.
Mortgage Loan is feasible in all of those properties.
Bank/NBFC will give Loan by evaluating “Loan to Value Ratio (LTV)”.
LTV signifies most mortgage attainable towards Market worth of property. We have mentioned LTV intimately.
(2) Income
Bank/NBFC will calculate your earnings from one of many 3 packages.
• Normal Program
• Liquid Income Program (LIP) and
• No Income Program (NIP)
By finding out these 2 parameters, financial institution will resolve your Mortgage Loan quantity. We have additionally mentioned Mortgage Loan Tips like “Importance of Proper End use” and “Importance of evaluating a number of banks.
LIST OF BASIC DOCUMENTS:
For Self Employed:
1. Proof of identification i.e. Self-certified copy of Voter’s ID card / Driving License / PAN Card / Aadhaar Card / Passport / Photo Ids, issued by Govt. authority and many others.
2. Proof of Residence i.e. Recent phone invoice / Electricity invoice / Property tax receipt / Voter’s ID card / Aadhaar Card / Passport of Individual / Proprietor / Partners, Certificate issued by Govt. Authority/Local Panchayat / Municipality and many others.
3. Applicant’s Recent Photograph (2 copies) not older than 6 months.
4. Proof of Identity / Address of the Business Enterprise.
5. Statement of Savings Account from the present Banker, for the final 1 yr.
6. Existing Loans sanction letters.
7. Last 1-year present account assertion.
8. Full Property File with Plan, permission and completion.
For Salaried:
1. Proof of identification i.e. Self-certified copy of Voter’s ID card / Driving License / PAN Card / Aadhaar Card / Passport / Photo Ids, issued by Govt. authority and many others.
2. Proof of Residence i.e. Recent phone invoice / Electricity invoice / Property tax receipt / Voter’s ID card / Aadhaar Card / Passport of Individual / Proprietor / Partners, Certificate issued by Govt. Authority/Local Panchayat / Municipality and many others.
3. Applicant’s Recent Photograph (2 copies) not older than 6 months.
4. Statement of Savings Account from the present Banker, for the final 1 yr.
5. Last 6 months wage slip.
6. Last 2 years Form-16.
7. Full Property File with Plan, permission and completion.
In quick, we’ve got defined these matters like:
What is Mortgage mortgage?
What is Loan Against property?
What is the that means of Mortgage mortgage?
What are the benefits and disadvantages of taking a Mortgage Loan?
Which properties are required for getting Mortgage Loan?
What is the method of taking a Mortgage Loan?
What are the eligibility necessities for taking Loan Against property?
What paperwork are required for getting Loan Against property?
What are the benefits and disadvantages of Loan Against property?
How to get Loan Against property?
How to calculate mortgage eligibility for Loan Against property?
For which functions you’ll be able to take Loan Against property? and
What are the rates of interest for Loan Against property?
You can even take a look at these associated movies:
Pradhan Mantri Awas Yojana- PMAY (Home Loan Subsidy):
Mudra Loan:
Home Loan:
5 essential issues to contemplate earlier than taking mortgage:
Personal Loan/ Business Loan:
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