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Financial food for thought
Mortgage loans are most commonly referred to as loans against property in India. It can be availed by both salaried and self-employed individuals to fulfil various personal or business-related needs.
Are you looking to start your dream business? Or are you in need of working capital to expand your current venture? Or do you want funds to give your daughter a lavish wedding?
A loan against property is a secured loan that is sanctioned keeping an asset as a mortgage with the lender. This asset can either be an owned land, a house, or any other commercial premises.
In India, it's common for people to purchase an empty plot of land either for investment purposes or to build a house in the future.
Home loan refinancing is not always the best idea, even when interest rates are low and friends and colleagues are talking about who fetched the lowest interest rate. Before you begin the long process of gathering pay stubs and bank statements, think about why you are refinancing.
One frequent question among home loan borrowers is, "Can I refinance my home loan with bad credit?" The short answer is – of course, you can, but it may be difficult. For the long explanation on how to refinance a home mortgage when your credit scores are not that good, continue reading below.
There may be situations in life when unexpected expenses come your way. When it happens, refinancing your home loans and taking cash out may be a smart way to raise the funds you need.
Refinancing a home loan could help you lower the interest rates, thereby reducing your EMIs and overall loan burden. But, ultimately the decision whether you should opt for a home loan transfer is a personal decision.
You have a stable income, pay your credit card bills and loan EMIs on time, and boast a good enough credit score.
Investment in real estate provides a sense of security to many. Moreover, land is limited in supply so there is always a demand for it. But it is quite an illiquid investment which you cannot get money out of your investment in a real estate property as and when you want.
Home Loan and Loan Against Property are two different types of loans but sound similar due to the terms used in denoting them, often creating confusion among people. Both home loan and loan against property are drawn against a property, so what are the differences between the two loans?
How to Get a Mortgage with Bad CreditA mortgage loan is given against the mortgage of a residential or commercial property. If you own land or property, then you could mortgage it with the lender to raise funds. The property's market value is assessed and the loan is given as a certain percentage of the property's current market value. This could range anywhere from 40% to 60% the current market value.This product is a secured loan since the loan is secured against your p
Tax Implications for Property Sellers and BuyersWhile it could be capital gains for a person who sells his property and an investment for the buyer, the both parties must know about the taxes that are levied on the sale of the property. The taxes are borne both by the buyer and the seller. Let us look at what are the taxes involved in a property sale and how can you claim tax exemptions.Capital Gains TaxThis tax is to be paid by the seller on the capital gai
Do you have a self-owned residential or commercial property? Are you in need of funds to improve the condition of your property or are facing an emergency? A loan against rent receivable will help you access liquid funds when you need it the most.What is a Loan Against Rent Receivable? This is a loan that you can take against the rental income of your property.Criteria to avail this loanTo be eligible for this loan, you need to meet certain terms and conditi
Loan against Property Interest RateWhat is Loan Against Property?A loan against property (LAP) is exactly what the name signifies—it is a loan that is taken against the mortgage of a residential or commercial property, or plot. The property's market value is assessed before sanctioning the loan, and if the title deeds are found to be clear and free of any legal encumbrances, the loan is given as a certain percentage of the property's current market value. Dependi
Loan against property eligibility calculationA loan against property (LAP) is a loan that is taken against the mortgage of a residential or commercial property, or plot. The property’s market value is assessed before sanctioning the loan, and the loan is given as a certain percentage of the property's current market value after successful verification. Depending on the lender, the loan amount could typically range from 40 per cent to 60 per cent of the assessed
Tips for Availing a Loan Against Property Without Income Proof:A loan against property (LAP) is a loan that is taken against the mortgage of a residential or commercial property, or plot. The property’s market value is assessed before sanctioning the loan, and if the title deeds are found to be clear and free of any legal encumbrances, the loan is given as a certain percentage of the property's current market value.Pre-requisites to avail a loan agains
Loan against Property overviewWhat is Loan Against Property?A loan against property (LAP) is exactly what the name signifies. It is a loan given against a residential or commercial property that you own and offer as security to the bank/lender. The property’s market value is assessed and the loan is given as a certain percentage of the property's current market value. The loan amount typically ranges from around 40 per cent to 60 per c
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