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Mortgage Loan Against Property

Unlocking the Value of your Property

If your property is sitting idle, unlock its value by getting a mortgage loan against property. From business and medical needs to marriage expenses, you can apply for a loan against your commercial property, residential property or even a plot. This type of loan can be obtained against fully-constructed or freehold properties. You can take a loan against rented or self-occupied residential property that can be a house or a piece of land.

Understanding the Basics of Loan against Property

Loan against property (LAP) is mainly a loan disbursed against the mortgage of your property. It is given as a certain percentage of the residential or commercial property's market value which is usually around 40 to 60%. LAP belongs to the secured loan category under which the borrower needs to give his property as security. When you apply for a loan against property, you get to leverage the economic worth of your commercial or residential unit while continuing to enjoy the occupancy of the same. There are various purposes for which the loan can be obtained, for instance, you can avail the loan for expanding your business, funding your dream vacation, meeting medical treatment requirements, sending kids for higher studies or to get your son/daughter married.

Eligibility Criteria

Criteria for approving a loan application varies from one financial institution to another. However, there are certain common factors that all banks or lenders look at when you apply for a commercial mortgage or a home mortgage loan: Borrower's regular income Borrower's debt obligations Cost of the property being mortgaged Track record of repayment of other loans or credit card payments Whether you are procuring a commercial mortgage loan or a loan against property in Mumbai, we can help you get a high loan amount with low EMIs for a long tenure. We will also offer easy repayment options to ease your burden. You can choose from flexible repayment options, including EMI based loan or an Overdraft Loan.

Features

As a reputed provider of loan against property in Mumbai, we offer you the following Doorstep service Attractive interest rates Easy documentation Speedy loan approvals Flexible repayment options Loan for purchasing commercial property Lease rental discounting Existing loan balance transfer Ideally, interest rate on loan against property in Mumbai ranges between 12% and 15%. You can procure this loan for a tenure up to 15 years. After home loans, loan against property is considered to be one of the cheapest retail loans.

Benefits of Choosing Us

We have tie-ups with some of the leading financial institutions in Mumbai to help our customers get a good deal. You get to choose from different banks under one roof when you approach us for a home mortgage loan or a commercial mortgage loan. By offering doorstep service, we eliminate the need to visit different lending institutions for a good rate. We can send our trained representative to your home or office to help you file a loan application and collect necessary documentation. At JMD, we are committed to offer you expedient plans tailored to your needs. You can be assured of top-quality assistance at every stage of the loan application procedure, be it mortgage loan against property or commercial mortgage. We are committed to fulfill your property mortgage loan needs with ease. Our loan options can be customized as per individual requirements. If you are self-employed, you can opt for our customized loan options that have easy document requirements. Our industry knowledge and experience has turned us into one of the leading providers of mortgage loan in Mumbai. We have experts who can help you apply for a property mortgage loan in a quick and hassle-free manner. By getting you a home loan or home loan against property at lowest interest rates, we aim to offer you affordable financing options.