{"id":657,"date":"2021-07-19T04:45:20","date_gmt":"2021-07-19T04:45:20","guid":{"rendered":"https:\/\/www.loanfasttrack.com\/blog\/?p=657"},"modified":"2022-08-01T10:07:06","modified_gmt":"2022-08-01T10:07:06","slug":"lap-loan-against-property-eligibility","status":"publish","type":"post","link":"https:\/\/www.loanfasttrack.com\/blog\/blog\/mortgage-loan\/lap-loan-against-property-eligibility\/","title":{"rendered":"(LAP)- Loan Against Property Eligibility"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.loankorner.com\/wp-content\/uploads\/2017\/03\/loan-against-property-interest-rates-500x250.jpg\" alt=\"\nLoan Against Property Eligibility \" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Meaning<\/strong><\/h2>\n\n\n\n<p>Eligibility\nsimply means how much loan you can get from a lender- Bank\/NBFC\/HFC. Mortgage\nloan eligibility therefore, means how much loan you can get against the pledge\nof your property. The residential, commercial as well as, industrial ownership\/\njoint ownership property, can be pledged. The bank loan eligibility check is a\ncombination of your income eligibility and the eligibility as per the property\nvalue.<\/p>\n\n\n\n<p>There\nare multiple factors that affect your property loan eligibility namely, <\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Your age.<\/li><li>CIBIL score.<\/li><li>Residential status.<\/li><li>Dwelling city.<\/li><li>Employment status &#8211; salaried,\n<strong>NRI<\/strong>, self-employed, or self-employed professional.<\/li><li>Nature of business whether\nmanufacturing, retailer, service, etc.<\/li><li>Income source.<\/li><li>Employment details such as\nmonthly income, years of experience, type of industry, etc.<\/li><li>Type of company you are\nworking in &#8211; partnership, private ltd., or proprietorship firm.<\/li><li>Business details such as\nnature of business, business vintage, profitable or loss-making, etc.<\/li><li>Number of obligations.<\/li><li>Loan induce.<\/li><li>Type of loan &#8211; <a href=\"https:\/\/www.loanfasttrack.com\/loan-against-property.html\"><strong>mortgage term loan<\/strong><\/a>, <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/know-all-about-mortgage-overdraft-o-d\/\"><strong>mortgage overdraft loan<\/strong><\/a>, <a href=\"https:\/\/www.loanfasttrack.com\/balance-transfers.html\"><strong>mortgage loan balance transfer<\/strong><\/a>, <a href=\"https:\/\/www.loanfasttrack.com\/Apply-now.html\"><strong>top-up\nloan on a mortgage loan<\/strong><\/a>, or lease rental discounting.<\/li><li>Type of property mortgaged\nwhether residential, commercial, or industrial. Also whether the property to\nmortgage is vacant, self-occupied, or rented out.<\/li><li>The market value of the\nproperty that is to be mortgaged.<\/li><\/ul>\n\n\n\n<p>There\nalso can be additional factors affecting your loan amount eligibility which\nwill be case-specific depending upon the lender to lender &amp; to their\npolicies. For instance, new business loan eligibility against property\nmortgage, startup business loan eligibility against property pledged, doctor loan\neligibility for a mortgage, mortgage overdraft loan eligibility,<a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/lap-loan-against-property-top-up-loan\/\"><strong>mortgage top up loan eligibility<\/strong><\/a>, joint loan eligibility,\nmortgage loan eligibility on salary received in cash, maybe different with the\ndifferent lenders owing to their different criteria for loan against property.\n(Also, read <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/home-loan\/benefits-of-applying-joint-home-loans\/\"><strong>benefits of applying for joint loans<\/strong><\/a>)<\/p>\n\n\n\n<p class=\"has-very-dark-gray-color has-text-color\"><strong>Also Read: NRI Loan Against Property In India.<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Eligibility Criteria For Loan Against\nProperty<\/strong><\/h2>\n\n\n\n<p>Given below is the loan against property eligibility criteria for all eligible profiles including the resident salaried, self-employed, professionals, &amp; NRIs.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>\n  Age\n  <\/td><td>\n  Minimum 21 years &amp; Maximum 70 years\n  <\/td><\/tr><tr><td>\n  Maximum\n  Loan Eligibility\n  <\/td><td>\n  Up-to Rs.10 Crores.\n  <\/td><\/tr><tr><td>\n  Loan\n  Tenure\n  <\/td><td>\n  Up-to 20 years.\n  <\/td><\/tr><tr><td>\n  Minimum Income Eligibility Criteria For\n  Mortgage Loan.\n  <\/td><td>* Loan eligibility forsalaried person &#8211; Rs.30,000\/- pm.   &nbsp; <br> <br>* Self employed loan eligibility &#8211;   Rs.3,50,000\/- p.a.   &nbsp;  <br> <br>* For NRI &#8211; 26,000 USD p.a. or 84,000 AED p.a.   <\/td><\/tr><tr><td>\n  Mortgage\n  Loan Interest Rates\n  <\/td><td>\n  Starts from 7.70%* onwards.\n  <\/td><\/tr><tr><td>\n  Eligible\n  Property \n  <\/td><td>\n  Vacant\/ self-occupied\/ rent out residential,\n  commercial, or industrial property \n  <\/td><\/tr><tr><td>\n  Minimum\n  Work Experience for Salaried\n  <\/td><td>\n  3 years.\n  <\/td><\/tr><tr><td>\n  Minimum\n  Business Stability for Self-Employed\n  <\/td><td>\n  5 years. \n  <\/td><\/tr><tr><td>\n  <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/loan-to-value-ratio\/\"><strong>LTV<\/strong><\/a><strong> <\/strong>&#8211; Loan To Value (% of the\n  property value)\n  <\/td><td>* Residential &#8211; 55% -70%.   <br>&nbsp;   <br>* Commercial &#8211; 50% -60%. <br>  &nbsp;   <br>* Industrial &#8211; 40% &#8211; 50%.   <\/td><\/tr><tr><td>\n  <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/fixed-obligation-to-income-ratio\/\"><strong>FOIR<\/strong><\/a> &#8211; Fixed Obligation To Income Ratio\n  <\/td><td>* Salaried &#8211; 60% of net income per month.   &nbsp;   <br><br>* Self-Employed &#8211; 65%-70% of the net profit.   <\/td><\/tr><tr><td>\n  CIBIL\n  Loan Eligibility\n  <\/td><td>\n  <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/cibil-and-its-significance-in-home-loan\/\"><strong>Satisfactory\n  CIBIL scores of 750 &amp; above<\/strong><\/a>\n  <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>Also Read: <\/strong><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/know-how-your-home-loan-inquiry-impacts-your-cibil-scores\/\"><strong>How your multiple loan inquiries can impact your CIBIL\nscores<\/strong><\/a><strong>.<\/strong><\/p>\n\n\n\n<p>The two important parameters used to assess your eligibility are the FOIR &amp; LTV. <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/fixed-obligation-to-income-ratio\/\"><strong>FOIR<\/strong><\/a> is a fixed obligation to income ratio while <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/loan-to-value-ratio\/\"><strong>LTV<\/strong><\/a> stands for loan to value. FOIR is a debt-to-income ratio and is a true reflection of your disposable income and an indicator of your repayment capacity. LTV on the other hand helps you to know the maximum loan amount you can get against the property. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>How is loan against property\neligibility calculated?<\/strong><\/h2>\n\n\n\n<p>You can easily calculate your secured loan eligibility once you have the formula to calculate it. The formula to calculate the LAP loan eligibility is as follows.<br>Mortgage eligibility = Lower of A &amp; B:<\/p>\n\n\n\n<p><strong>A. <\/strong><u>For Salaried<\/u><br>     ((Net income per month X 60% FOIR) \u2013 Obligations) \u00f7 Per lakh EMI<\/p>\n\n\n\n<p><strong>     <\/strong><u>For Self-Employed<\/u><br>    (Net Profit X 65%-70% FOIR) &#8211; Obligations)&nbsp; \u00f7 Per Lakh EMI<\/p>\n\n\n\n<p><strong>B.<\/strong> LTV \u2013 Market Value of the property X (40%-65%).&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/p>\n\n\n\n<p>The home mortgage loan eligibility criteria differ from the <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/what-do-you-mean-by-loan-eligibility-in-home-loan\/\"><strong>home loan eligibility<\/strong><\/a> criteria. The two mainly differ in the loan amount that can be offered against the collateral of the property. In <a href=\"https:\/\/www.loanfasttrack.com\/home-loan.html\"><strong>home loan<\/strong><\/a> you get higher funding from the lenders in comparison to mortgage loans i.e.up-to 90% on the market value of the property. <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/difference-between-home-loan-and-loan-against-property\/\"><strong>Click to know more differences between mortgage loans &amp; home loans<\/strong><\/a>. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>How To Increase The Mortgage Loan\nEligibility<\/strong> <\/h2>\n\n\n\n<ul class=\"wp-block-list\"><li>Add an earning co-applicant\nto the loan application. <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/know-the-co-applicant-in-home-loan\/\"><strong>Click to know who can be your co-applicants<\/strong><\/a>.<\/li><li>Disclose your earnings from\nother legal sources of income. Ensure that the income received is appropriately\ndocumented. <\/li><li>Foreclose your unsecured\nloans, such as <a href=\"https:\/\/www.loanfasttrack.com\/personal-loan.html\"><strong>personal\nloans<\/strong><\/a> or <a href=\"https:\/\/www.loanfasttrack.com\/business-loan.html\"><strong>business\nloans<\/strong><\/a> which eat the majority of your loan eligibility. <\/li><li>Close your credit card\noutstanding\/ overdue balance.<\/li><li>Pledge additional property to\nenhance your funding against the property. <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/best-banks-for-mortgage-loan-in-india\/\"><strong>Click to find which properties can be mortgaged<\/strong><\/a>.&nbsp; <\/li><\/ul>\n\n\n\n<p>Remember to check bank loan eligibility before you <a href=\"https:\/\/www.loanfasttrack.com\/loan-against-property.html\"><strong>apply for a mortgage loan<\/strong><\/a>. Check out the loan against property eligibility criteria of top banks.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>\n  <strong>Bank<\/strong>\n  <\/td><td>\n  <strong>Age Criteria<\/strong>\n  <\/td><td>\n  <strong>LTV<\/strong>\n  <\/td><td>\n  <strong>Maximum Tenure For Loan Against Property<\/strong>\n  <\/td><td>\n  <strong>Loan Amount<\/strong>\n  <\/td><\/tr><tr><td>\n  <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/icici-bank-loan-against-property-lap\/\"><strong>ICICI loan eligibility<\/strong><\/a><strong><\/strong>\n  <\/td><td>\n  25 years &#8211; 65 years.\n  <\/td><td>\n  Up-to 70%\n  <\/td><td>\n  Up-to 20 years.\n  <\/td><td>\n  Up-to 10 Crores.\n  <\/td><\/tr><tr><td>\n  <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/hdfc-bank-loan-against-property\/\"><strong>Loan against property eligibility HDFC<\/strong><\/a><strong><\/strong>\n  <\/td><td>\n  24 years &#8211; 70 years.\n  <\/td><td>\n  Up-to 65%\n  <\/td><td>\n  Up-to 15 years.\n  <\/td><td>\n  Up-to 25 Crores.\n  <\/td><\/tr><tr><td>\n  <strong>Axis<\/strong> Bank loan against property\n  eligibility criteria\n  <\/td><td>\n  24 years &#8211; 65 years.\n  <\/td><td>\n  Up-to 55%\n  <\/td><td>\n  Up-to 20 years.\n  <\/td><td>\n  Up-to 5 Crores.\n  <\/td><\/tr><tr><td>\n  Loan\n  against property eligibility <strong>SBI<\/strong>\n  <\/td><td>\n  24 years &#8211; 70 years.\n  <\/td><td>\n  Up-to 65%\n  <\/td><td>\n  Up-to 15 years.\n  <\/td><td>\n  Up-to 5 Crores.\n  <\/td><\/tr><tr><td>\n  <strong>Kotak Bank<\/strong> loan against property eligibility\n  <\/td><td>\n  18 years &#8211; 65 years.\n  <\/td><td>\n  Up-to 65%\n  <\/td><td>\n  Up-to 15 years.\n  <\/td><td>\n  Up-to 5 Crores.\n  <\/td><\/tr><tr><td>\n  <strong>Canara Bank<\/strong> loan against property\n  eligibility \n  <\/td><td>\n  24 years &#8211; 70 years.\n  <\/td><td>\n  Up-to 50%\n  <\/td><td>\n  Up-to 10 years.\n  <\/td><td>\n  Up-to 10 Crores.\n  <\/td><\/tr><tr><td>\n  <strong>Bank Of India<\/strong> loan against property\n  eligibility\n  <\/td><td>\n  21 years &#8211; 70 years.\n  <\/td><td>\n  Up-to 40%\n  <\/td><td>\n  Up-to 15 years.\n  <\/td><td>\n  Up-to 7.5 Crores.\n  <\/td><\/tr><tr><td>\n  <strong>Bank Of Baroda<\/strong> loan against property\n  eligibility\n  <\/td><td>\n  21 years &#8211; 65 years.\n  <\/td><td>\n  Up-to 40%\n  <\/td><td>\n  Up-to 10 years.\n  <\/td><td>\n  Up-to 10 Crores.\n  <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/how-to-apply-online-for-home-loan-mortgage-loan-loan-transfers-by-loanfasttrack\/\"><strong>Click to know how to apply for a mortgage loan<\/strong><\/a><strong>.<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Let&#8217;s Illustrate <\/strong><\/h2>\n\n\n\n<p>Mr.\nDamodar, a 28-year-old physiotherapist is drawing a salary of Rs.1.2 Lakhs p.m.\nHe is willing to mortgage his 1 bhk apartment in Thane, Mumbai with a market\nvalue of Rs.80 Lakhs. He has no other outstanding loans. He is looking for a\nmortgage loan of Rs.60 Lakhs- Rs.50 Lakhs. Let\u2019s calculate his 60 Lakhs-50\nLakhs loan eligibility from the top banks.<\/p>\n\n\n\n<p>The mortgage tenures, LTV ratio, and interest rates will vary among the banks, and so will their <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/what-is-home-loan-emi\/\"><strong>EMI<\/strong><\/a>s depending on the tenures and the rates of interest. Mr. Damodar should choose a Bank which offers the highest eligibility, lower interest rates, and the EMIs.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>\n  <strong>Bank <\/strong>\n  <\/td><td>\n  <strong>Tenure<\/strong>\n  <\/td><td>\n  <strong>Interest Rate<\/strong>\n  <\/td><td>\n  <strong>Maximum Loan Eligibility On Property Valuing Rs.80\n  Lakhs<\/strong>\n  <\/td><td>\n  <strong>EMI <\/strong>\n  <\/td><\/tr><tr><td>\n  <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/icici-bank-loan-against-property-lap\/\"><strong>ICICI\n  Bank<\/strong><\/a><strong><\/strong>\n  <\/td><td>\n  20 years\n  <\/td><td>\n  7.70% p.a.\n  <\/td><td>\n  Rs.56 Lakhs\n  <\/td><td>\n  Rs.45,801\/-\n  <\/td><\/tr><tr><td>\n  <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/hdfc-bank-loan-against-property\/\"><strong>HDFC\n  Bank<\/strong><\/a><strong><\/strong>\n  <\/td><td>\n  15 years\n  <\/td><td>\n  8% p.a.\n  <\/td><td>\n  Rs.52 Lakhs\n  <\/td><td>\n  Rs.49,694\/-\n  <\/td><\/tr><tr><td>\n  Axis Bank\n  <\/td><td>\n  20 years\n  <\/td><td>\n  10.50% p.a.\n  <\/td><td>\n  Rs.44 Lakhs\n  <\/td><td>\n  Rs.43,929\/-\n  <\/td><\/tr><tr><td>\n  Kotak Bank\n  <\/td><td>\n  15 years\n  <\/td><td>\n  9.25% p.a. \n  <\/td><td>\n  Rs.52 Lakhs\n  <\/td><td>\n  Rs.53,518\/-\n  <\/td><\/tr><tr><td>\n  Canara Bank\n  <\/td><td>\n  10 years\n  <\/td><td>\n  9.95% p.a.\n  <\/td><td>\n  Rs.40 Lakhs\n  <\/td><td>\n  Rs.52,750\/-\n  <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>-&gt; ICICI Bank offers the highest eligibility to Mr. Damodar of Rs.56 Lakhs.<br>-&gt; The minimum loan eligibility of Rs.40 Lakhs is with Canara Bank, which does not fulfill Damodar\u2019s mortgage requirement.<br>-&gt; The loan eligibility differs between the banks based on their LTV funding ratios.<br>-&gt; EMI amount will vary between the banks from Rs.43,929\/- &#8211; Rs.53,518\/- depending on the interest rates and the loan tenures.<\/p>\n\n\n\n<p>Also Read: <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/mortgage-loan\/what-are-the-income-tax-benefits-on-mortgage-loan\/\"><strong> Income Tax Benefits On Mortgage Loan<\/strong><\/a><strong>.<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Mortgage Loan Documentation<\/strong><\/h2>\n\n\n\n<p>Click\nto get a detailed list of documents till disbursement for:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/mortgage-loan-list-of-documents-for-salaried-customers\/\"><strong>Salaried<\/strong><\/a><\/li><li><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/nri-list-of-documents-for-applying-mortgage-loan\/\"><strong>NRI<\/strong><\/a><\/li><li>Self-employed &#8211; <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/mortgage-loan\/mortgage-loan-list-of-documents-for-self-employed-proprietorship-firm\/\"><strong>Proprietorship Firm<\/strong><\/a>, <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/mortgage-loan\/mortgage-loan-list-of-documents-for-self-employed-partnership-firm\/\"><strong>Partnership Firm<\/strong><\/a>, &amp; <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/mortgage-loan\/mortgage-loan-list-of-documents-for-self-employed-private-ltd-firm\/\"><strong>Private Ltd. Company<\/strong><\/a>.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>FAQ<\/strong><\/h2>\n\n\n\n<p><strong>Q. How do I check my loan\neligibility?<\/strong><\/p>\n\n\n\n<p><strong>Ans: <\/strong>You can check mortgage eligibility\nwith the help of the <a href=\"https:\/\/www.loanfasttrack.com\/emi-calculator.html\"><strong>LAP loan\neligibility calculator<\/strong><\/a>. You can also check loan eligibility before <a href=\"https:\/\/www.loanfasttrack.com\/loan-against-property.html\"><strong>applying for a loan against property<\/strong><\/a>. <\/p>\n\n\n\n<p><strong>Q. Is there any mortgage loan for\nCIBIL defaulters?<\/strong><\/p>\n\n\n\n<p><strong>Ans: <\/strong>It is mandatory to have good CIBIL\nscores above 750 to avail a mortgage loan. Mortgage loan without CIBIL scores\ncannot be granted to any individual. <\/p>\n\n\n\n<p>Know\n<a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/home-loan\/how-to-apply-for-home-loan-with-bad-cibil-score-by-loanfasttrack\/\"><strong>how to apply for a loan with a bad CIBIL score<\/strong><\/a>.<\/p>\n\n\n\n<p><strong>Q. What is the interest rate on loan\nagainst property?<\/strong><\/p>\n\n\n\n<p><strong>Ans: <\/strong>The mortgage loan interest rates\nrange from 7.70% p.a. &#8211; 13.20% p.a.<\/p>\n\n\n\n<p><strong>Q. When to apply for mortgage pre\napproval? What is my loan eligibility?<\/strong><\/p>\n\n\n\n<p><strong>Ans: <\/strong>You can anytime apply for a mortgage\npre-approval loan. The preapproval will give you exact LAP eligibility. It\nhelps to plan your budget accordingly. It also saves your time as a major part\nof the <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/processing-of-home-loan-mortgage-loan\/\"><strong>loan sanction process<\/strong><\/a> has already been done.<\/p>\n\n\n\n<p>Also,\nread on <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/home-loan\/pre-approved-home-loans-pre-sanction-home-loans\/\"><strong>pre-approved home loans<\/strong><\/a>.<\/p>\n\n\n\n<p><strong>Q. How much is the HDFC mortgage loan\neligibility for property valuing 1 Crore?<\/strong><\/p>\n\n\n\n<p><strong>Ans:<\/strong> Property value1 crore loan eligibility for a mortgage loan in HDFC Bank will be\nRs.65 Lakhs. To know the exact loan eligibility, refer to <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/hdfc-bank-loan-against-property\/\"><strong>HDFC Bank loan against property<\/strong><\/a>.<\/p>\n\n\n\n<p><strong>Q. I draw a salary of Rs. 63,000\/-\nper month. What will be my eligibility for a loan on salary basis?<\/strong><\/p>\n\n\n\n<p><strong>Ans: <\/strong>Rs.63,000\/- salary loan eligibility\nwill be calculated as under:<\/p>\n\n\n\n<p>(63,000 X 60% \u2013\nObligations) \u00f7 Per lakh EMI of the lender<\/p>\n\n\n\n<p><strong>Q. I run a retail clothing shop in\nMumbai. My ITR profit is Rs.7 Lakhs? What will be my loan eligibility?<\/strong><\/p>\n\n\n\n<p><strong>Ans:<\/strong> Rs.7 Lakhs ITR loan eligibility for a <a href=\"https:\/\/www.loanfasttrack.com\/mortgage-loan\/apply-online-now.html\"><strong>mortgage loan in Mumbai<\/strong><\/a> will be calculated as under:<\/p>\n\n\n\n<p>(7,00,000 X 70% &#8211;\nObligations) \u00f7 Per Lakh EMI of the lender.<\/p>\n\n\n\n<p>By, <\/p>\n\n\n\n<p>Loanfasttrack<\/p>\n\n\n\n<p><a href=\"http:\/\/www.loanfasttrack.com\"><strong>Loanfasttrack<\/strong><\/a> is a Mumbai-based loan provider\ncompany since 2015 offering loan services in Mumbai on&#8211; <a href=\"https:\/\/www.loanfasttrack.com\/home-loan\/apply-online-now.html\"><strong>housing loan in\nMumbai<\/strong><\/a>, <a href=\"https:\/\/www.loanfasttrack.com\/mortgage-loan\/apply-online-now.html\"><strong>mortgage loan in\nMumbai<\/strong><\/a>, <a href=\"https:\/\/www.loanfasttrack.com\/personal-loan\/apply-online-now.html\"><strong>personal loan in\nMumbai<\/strong><\/a><a href=\"https:\/\/www.loanfasttrack.com\/personal-loan\/apply-online-now.html\">,<\/a><a href=\"https:\/\/www.loanfasttrack.com\/business-loan\/apply-online-now.html\"> <\/a><a href=\"https:\/\/www.loanfasttrack.com\/business-loan.html\"><strong>unsecured business loans<\/strong><\/a>,<strong> <\/strong><a href=\"https:\/\/www.loanfasttrack.com\/balance-transfers.html\"><strong>home loan transfer<\/strong><\/a>, <a href=\"https:\/\/www.loanfasttrack.com\/home-loan\/apply-online-now.html\"><strong>top-up loans<\/strong><\/a>, <a href=\"https:\/\/www.loanfasttrack.com\/balance-transfers.html\"><strong>loan transfers<\/strong><\/a> and apply for a <a href=\"https:\/\/www.loanfasttrack.com\/business-loan\/apply-online-now.html\"><strong>business loan in\nMumbai<\/strong><\/a>. Loanfasttrack is a direct sales associate with leading banks namely,\nICICI Bank, HDFC Ltd, Canara Bank, Citi Bank, Piramal Housing Finance, etc. <\/p>\n\n\n\n<p><strong>Contact Loanfasttrack:<\/strong><strong> <\/strong><\/p>\n\n\n\n<p><strong>Website &#8211;<\/strong><strong> <\/strong><a href=\"http:\/\/www.loanfasttrack.com\"><strong><em>www.loanfasttrack.com<\/em><\/strong><\/a><strong><\/strong><\/p>\n\n\n\n<p><strong>Email &#8211; <\/strong><a href=\"mailto:info@loanfasttrack.com\"><strong><em>info@loanfasttrack.com<\/em><\/strong><\/a><strong><\/strong><\/p>\n\n\n\n<p><strong>Tel &#8211;<\/strong><strong> <\/strong><strong><em>9321020476<\/em><\/strong><\/p>\n\n\n\n<p>Loanfasttrack\nspecialized services include providing:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The<a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/best-banks-for-housing-loan-in-india\/\"> <\/a><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/best-banks-for-housing-loan-in-india\/\"><strong>best bank for home\n<\/strong><\/a><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/best-banks-for-housing-loan-in-india\/\"><strong>loans<\/strong><\/a><strong>.<\/strong><\/li><li><a href=\"https:\/\/www.loanfasttrack.com\/loan-against-property.html\"><strong>Best Banks For Mortgage Loan In India<\/strong><\/a><strong>.<\/strong><\/li><li>Assured low-interest rates\nfor<a href=\"https:\/\/www.loanfasttrack.com\/mortgage-loan\/apply-online-now.html\"> <\/a><a href=\"https:\/\/www.loanfasttrack.com\/mortgage-loan\/apply-online-now.html\"><strong>loan against\nproperty in Mumbai<\/strong><\/a>.<\/li><li>Lowest<a href=\"https:\/\/www.loanfasttrack.com\/home-loan\/apply-online-now.html\"> <\/a><a href=\"https:\/\/www.loanfasttrack.com\/home-loan\/apply-online-now.html\"><strong>home loan rates in\nMumbai<\/strong><\/a><strong>.<\/strong><\/li><li><a href=\"https:\/\/www.loanfasttrack.com\/personal-loan\/apply-online-now.html\"><strong>Instant loan in\nMumbai<\/strong><\/a><strong> <\/strong>&amp;<a href=\"https:\/\/www.loanfasttrack.com\/home-loan\/apply-online-now.html\"><strong>home loan in Mumbai<\/strong><\/a><a href=\"https:\/\/www.loanfasttrack.com\/home-loan\/apply-online-now.html\"><strong>.<\/strong><\/a><\/li><li>Instant <a href=\"https:\/\/www.loanfasttrack.com\/personal-loan\/apply-online-now.html\"><strong>personal loan in Mumbai<\/strong><\/a> &amp;<a href=\"https:\/\/www.loanfasttrack.com\/business-loan\/apply-online-now.html\"> <\/a><a href=\"https:\/\/www.loanfasttrack.com\/business-loan\/apply-online-now.html\"><strong>business loan in\nMumbai<\/strong><\/a><\/li><li>Low-cost<a href=\"https:\/\/www.loanfasttrack.com\/balance-transfers.html\"> <\/a><a href=\"https:\/\/www.loanfasttrack.com\/balance-transfers.html\"><strong>home loan balance transfer<\/strong><\/a>.<\/li><\/ul>\n\n\n\n<p><strong>Additional\nRead<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/best-banks-for-mortgage-loan-in-india\/\"><strong>Best\nBanks For Mortgage Loan In India<\/strong><\/a><strong>.<\/strong><\/li><li><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/icici-bank-mortgage-loan-for-nri-in-india\/\"><strong>ICICI\nBank Mortgage Loan For NRI In India<\/strong><\/a><strong>.<\/strong><strong><\/strong><\/li><li><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/loan-against-property-at-lowest-interest-rate-with-loanfasttrack\/\"><strong>LAP\nFAQs<\/strong><\/a><strong>.<\/strong><\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Meaning Eligibility simply means how much loan you can get from a lender- Bank\/NBFC\/HFC. Mortgage loan eligibility therefore, means how much loan you can get against the pledge of your property. The residential, commercial as well as, industrial ownership\/ joint ownership property, can be pledged. The bank loan eligibility check is a combination of your &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33,57,329,4],"tags":[1896,1930,468,1696,1786,1692,1760,1876,1766,1739,1774,1747,1753,1752,1874,583,573,565,589,634,246,182,249,248,243,587,626,1882,1623,1629,1877,1628,1654,1637,1615,1619,1614,1640,1633,1870,1871,1872,1869,616,1746,1887,1905,1864,1848,315,1883,1867,1861,739,1873,780,1862,1860,1855,1925,1856,301,1531,1468,300,1529,1542,497,1459,1540,297,277,302,1534,1470,303,299,1522,296,1505,227,224,1521,225,1524,230,268,258,1562,1507,231,262,1491,1572,1852,126,1246,1278,1041,13,460,644,1894,810,1907,830,1050,1897,1913,1923,1909,1911,1863,1924,1868,369,1922,1915,1912,367,525,522,1921,1846,1910,1920,1859,1919,1866,1914,1916,1918,439,1898,1889,614,1888,800,784,783,859,799,1847,276,1853,736,235,384,1884,368,377,1857,1851,7,51,24,1662,775,1472,1854,1893,643,1503,1516,1908,10,584,821,811,1904,826,676,395,638,639,1929,751,747,1476,752,1304,311,220,270,561,396,397,313,314,328,407,376,349,426,1750,1027,1670,1672,568,295,350,569,294,737,604,1906,284,559,847,779,229,1663,1895,310,287,1865,1901,1928,605,1917,312,260,236,813,640,744,1926,1751,1749,1879,1903,144,1902,293,273,763,645,764,571,1850,1875,1885,1886,1891,690,697,696,1858,647,667,1892,655,701,698,666,646,472,1878,1900,1899,1890,1880,1881,445,495,355],"class_list":["post-657","post","type-post","status-publish","format-standard","hentry","category-finance","category-home-loan","category-lease-rental-discounting","category-mortgage-loan","tag-1-crore-loan-eligibility","tag-100-percent-loan-against-property","tag-axis-bank-home-loan-top-up-eligibility","tag-axis-bank-loan-against-property-eligibility","tag-axis-bank-loan-against-property-eligibility-criteria","tag-axis-bank-loan-against-property-interest-rate","tag-axis-bank-loan-against-property-interest-rate-2022","tag-axis-bank-mortgage-loan-eligibility","tag-axis-bank-mortgage-loan-eligibility-calculator","tag-axis-bank-mortgage-loan-interest-rate-2022","tag-axis-bank-mortgage-overdraft-facility","tag-axis-mortgage-loan-eligibility-criteria","tag-axis-mortgage-loan-eligibility-for-salaried-person","tag-axis-overdraft-loan-eligibility-process","tag-bank-loan-eligibility","tag-bank-of-baroda-loan-against-property-interest-rate","tag-bank-of-baroda-mortgage-loan-interest-rate-2022","tag-bank-of-baroda-overdraft-against-property","tag-bank-of-baroda-overdraft-interest-rate","tag-bank-of-india-mortgage-loan-interest-rate-2022","tag-best-bank-for-loan-against-property-in-mumbai","tag-best-housing-loan-rates-in-mumbai","tag-best-loan-against-property-interest-rates","tag-best-mortgage-loan-interest-rates","tag-best-mortgage-rates","tag-bob-loan-against-property-interest-rate","tag-boi-loan-against-property-interest-rate","tag-business-startup-loan-eligibility","tag-canara-bank-home-loan-eligibility-calculator","tag-canara-bank-loan-against-property-eligibility","tag-canara-bank-loan-against-property-eligibility-calculator","tag-canara-bank-loan-against-property-emi-calculator","tag-canara-bank-loan-against-property-interest-rate","tag-canara-bank-loan-against-property-interest-rates","tag-canara-bank-mortgage-loan-eligibility","tag-canara-bank-mortgage-loan-interest-rate-2022","tag-canara-bank-mortgage-loan-rate-of-interest","tag-canara-bank-overdraft-against-property","tag-canara-bank-overdraft-loan-interest-rate","tag-check-bank-loan-eligibility-for-mortgage","tag-check-bank-loan-eligibility-for-property-mortgage","tag-check-loan-eligibility-before-applying","tag-check-mortgage-eligibility","tag-check-my-loan-eligibility","tag-check-my-loan-eligibility-in-axis-bank","tag-cibil-loan-eligibility","tag-cibil-score-for-mortgage-loan","tag-citibank-loan-against-property-eligibility","tag-criteria-for-loan-against-property","tag-current-mortgage-loan-interest-rates","tag-doctor-loan-eligibility","tag-documents-required-for-loan-against-property","tag-eligibility-calculator-for-loan-against-property","tag-eligibility-criteria-for-loan-against-property","tag-eligibility-criteria-for-mortgage-loan","tag-eligibility-for-first-time-home-buyer","tag-eligibility-for-loan-against-property-in-sbi","tag-eligibility-loan-against-property","tag-eligibility-of-loan-against-property","tag-emi-for-mortgage-loan-in-icici-bank","tag-hdfc-bank-loan-against-property-eligibility","tag-hdfc-bank-loan-against-property-interest-rate","tag-hdfc-bank-mortgage-loan-eligibility","tag-hdfc-bank-mortgage-loan-interest-rate","tag-hdfc-bank-mortgage-loan-interest-rates","tag-hdfc-bank-overdraft-against-property","tag-hdfc-home-loan-against-property-interest-rate","tag-hdfc-home-loan-top-up-eligibility","tag-hdfc-home-loan-top-up-eligibility-calculator","tag-hdfc-lap-eligibility","tag-hdfc-lap-interest-rate","tag-hdfc-lap-loan-eligibility","tag-hdfc-lap-loan-interest-rate","tag-hdfc-lap-loan-rate-of-interest","tag-hdfc-lap-lona-interest-rate","tag-hdfc-lap-rate","tag-hdfc-lap-rate-of-interest","tag-hdfc-loan-against-property-eligibility-calculator","tag-hdfc-loan-against-property-interest-rate","tag-hdfc-loan-against-property-interest-rate-calculator","tag-hdfc-loan-against-property-interest-rate-in-india","tag-hdfc-ltd-lap-interest-rate","tag-hdfc-ltd-loan-against-property-interest-rate","tag-hdfc-ltd-mortgage-loan-interest-rate","tag-hdfc-mortgage-interest-rate","tag-hdfc-mortgage-loan-eligibility","tag-hdfc-mortgage-loan-interest-rate-2022","tag-hdfc-mortgage-loan-interest-rates","tag-hdfc-mortgage-loan-interest-rates-2022","tag-hdfc-mortgage-loan-rate","tag-hdfc-mortgage-loan-rate-of-interest","tag-hdfc-mortgage-overdraft-facility","tag-hdfc-mortgage-rates","tag-hdfc-top-up-loan-eligibility","tag-home-loan-against-property-eligibility-calculator","tag-home-loan-eligibility","tag-home-loan-eligibility-calculator","tag-home-loan-eligibility-criteria","tag-home-loan-for-cibil-defaulters","tag-home-loan-rates-in-mumbai","tag-home-loan-top-up-eligibility","tag-home-mortgage-loan-eligibility","tag-how-is-loan-against-property-eligibility-calculated","tag-how-is-ltv-calculated","tag-how-mortgage-loan-is-calculated","tag-how-much-cibil-score-required-for-loan-against-property","tag-how-to-calculate-ltv-in-home-loan","tag-icici-50-lakhs-loan-eligibility","tag-icici-bank-commercial-property-loan-interest-rate","tag-icici-bank-home-mortgage-loan-interest-rate","tag-icici-bank-lap-loan-interest-rate","tag-icici-bank-loan-against-property-documents-required","tag-icici-bank-loan-against-property-eligibility","tag-icici-bank-loan-against-property-rate-of-interest","tag-icici-bank-loan-eligibility","tag-icici-bank-lrd-rate-of-interest","tag-icici-bank-mortgage-loan-interest","tag-icici-bank-mortgage-loan-interest-rate","tag-icici-bank-overdraft-against-property","tag-icici-bank-overdraft-facility","tag-icici-bank-top-up-loan-eligibility","tag-icici-bank-top-up-loan-interest-rate","tag-icici-home-mortgage-loan-interest-rate","tag-icici-lap-loan-eligibilty","tag-icici-lap-loan-interest-rate","tag-icici-lap-loan-interest-rate-2022","tag-icici-loan-against-property-eligibility","tag-icici-loan-against-property-interest-rate-2022","tag-icici-loan-eligibility","tag-icici-mortgage-loan-eligibility-criteria","tag-icici-mortgage-loan-interest-rate","tag-icici-mortgage-loan-interest-rate-2022","tag-icici-top-up-loan-interest-rate","tag-itr-loan-eligibility-for-lap","tag-joint-loan-against-property-eligibility-criteria","tag-joint-loan-eligibility","tag-joint-mortgage-loan-eligibility","tag-kotak-bank-loan-against-property-interest-rate","tag-kotak-loan-against-property-interest-rate","tag-kotak-mahindra-bank-loan-against-property-interest-rates","tag-kotak-mahindra-bank-mortgage-loan-interest-rates-2022","tag-kotak-mahindra-loan-against-property-interest-rate","tag-lap-eligibility-calculator","tag-lap-loan-eligibility","tag-lap-loan-eligibility-calculator","tag-lap-maximum-tenure","tag-lap-rate-of-interest-hdfc","tag-lease-rental-discounting-eligibility","tag-lease-rental-discounting-eligiblity","tag-lease-rental-discounting-interest-rates","tag-lease-rental-discounting-rate-of-interest-in-2022","tag-lic-housing-finance-loan-against-property-eligibility","tag-lic-loan-against-property-eligibility","tag-loan-against-property","tag-loan-against-property-at-lowest-interest-rate","tag-loan-against-property-eligibility","tag-loan-against-property-eligibility-calculator","tag-loan-against-property-eligibility-criteria","tag-loan-against-property-eligibility-hdfc","tag-loan-against-property-eligibility-icici","tag-loan-against-property-eligibility-quora","tag-loan-against-property-eligibility-sbi","tag-loan-against-property-hdfc-bank-interest-rate","tag-loan-against-property-hdfc-eligibility","tag-loan-against-property-in-icici-bank","tag-loan-against-property-in-mumbai","tag-loan-against-property-interest-rate-bank-of-baroda","tag-loan-against-property-interest-rates-all-banks","tag-loan-against-property-interest-rates-comparison","tag-loan-against-property-minimum-amount","tag-loan-against-property-minimum-interest-rates","tag-loan-against-property-sbi-bank-interest-rate","tag-loan-against-property-takeover","tag-loan-against-property-with-bad-cibil","tag-loan-against-property-without-cibil-score","tag-loan-against-property-without-emi","tag-loan-against-property-without-form-16","tag-loan-against-property-without-income-proof","tag-loan-against-property-without-income-proof-hdfc-bank","tag-loan-against-property-without-income-proof-in-mumbai","tag-loan-eligibility-calculator","tag-loan-eligibility-check","tag-lowest-hdfc-ltd-lap-interest-rates","tag-lowest-hdfc-mortgage-loan-rate","tag-lowest-interest-rate-mortgage","tag-lowest-lap-loan-interest-rates","tag-lowest-lap-loan-rate-of-interest","tag-lowest-mortgage-loan-interest-rate","tag-lowest-mortgage-rates","tag-lowest-rate-for-mortgage-loan","tag-lrd-loan-eligibility","tag-lrd-loan-interest-rates-in-2022","tag-maximum-loan-amount-u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