LOAN AGAINST PROPERTY
You need a loan of 20 lakhs. Your salary doesn't allow you to borrow that much from a bank. But you do have your own home in a good locality that can fetch a good market price. Lenders will now be more amenable to lending to you. A loan against property (or home equity loan) is a credit instrument where a loan is given against your property. You can then utilise these funds to meet any of your requirements. What you need to know before applying for a loan against property (LAP). Here are a few basics that will help you while researching LAP.
- What is LAP?
- Loan against property or personal loan
- How is a loan against property different from home loan?
- Do you need to show income proof?
Loan against property application process
It helps, in terms of saving time and money, to know beforehand the process to be followed to avail a loan against property. LAP has its advantages and disadvantages. Read on...
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