3 Factors that Consider While Applying for LAP - PowerPoint PPT Presentation
Title:
3 Factors that Consider While Applying for LAP
Description:
When applying for a Loan Against Property (LAP), consider three crucial factors to secure the best deal: 1) Property Valuation - Ensure your property is assessed accurately to maximize loan eligibility, 2) Loan-to-Value Ratio - Understand the percentage of the property's value you can borrow to make informed decisions, and 3) Interest Rates & Repayment Terms - Compare offers from multiple lenders to get competitive rates and favorable repayment options. Smartly evaluating these factors can lead to a successful LAP application with optimal benefits. – PowerPoint PPT presentation
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Title: 3 Factors that Consider While Applying for LAP
1
3 Key Factors to Consider While Applying for
Loan Against Property
2
Financial Profile of the Loan Applicant
Lenders
review
applicants'
age,
- employment, income source, residence, past
loans, and repayment history to assess their
creditworthiness during the loan aginst property
application process.
3
Type of Property is Being Collateral in India
Lenders carefully assess the property type for
the loan application. Surveyors check if it's
residential or commercial, its age, location,
and current market value.
4
Be Ready TO Avail of Tax Benefits
When apply for a loan against property, remember
that you won't be able to claim tax benefits,
which is a crucial consideration. borrower will
be required to pay taxes on the amount they are
using to repay the loan.
5
I Hope you like i!!!!!! Understand the important
3 Key Factors to Consider While Applying for
Loan Against Property
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an-against- property
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