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Mortgage Loan/LAP

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What is a Mortgage Loan/LAP Loan?

A mortgage loan is a financial solution designed to help individuals or businesses purchase property by providing the necessary funds upfront. In essence, it’s a loan secured against a real estate asset, such as a house, apartment, or commercial space, which acts as collateral. This means that while you enjoy the benefits of owning your property, the lender holds the property as security until the loan is fully repaid.

Key Features of a Mortgage Loan

Flexible Repayment Terms: Mortgage loans typically offer extended repayment periods, allowing you to pay back the loan in manageable monthly installments over several years.

Affordable Interest Rates: These loans usually come with competitive interest rates, making homeownership or property investment more affordable.

Loan-to-Value Ratio (LTV): The amount you can borrow is often determined by the property’s market value, giving you access to significant funding.

Customizable Options: Depending on your needs, you can choose between fixed or variable interest rates and tailor the loan tenure to fit your financial situation.

Mortgage Loan/LAP Loan Required Documents for Salaried Person***

1. Identity Proof (Any one of the following):
  • Aadhaar Card
  • PAN Card
  • Passport
  • Voter ID
  • Driving License
2. Address Proof (Any one of the following):
  • Aadhaar Card
  • Passport
  • Rent Agreement
  • Bank Statement with Address
  • Utility Bills (Electricity, Water, or Gas – recent)
3. Income Proof:
  • Latest 3 to 6 months' salary slips
  • Form 16 or Income Tax Returns (ITRs) for the last 2-3 years
  • Bank statements for the last 6 months showing salary credits
4. Employment Proof:
  • Offer letter or employment certificate from the current employer
  • Appointment letter
5. Bank Statements:
  • Savings account statements for the last 6 to 12 months
6. Photographs:
  • Recent passport-sized photographs (as required by the lender)

***To avail of a mortgage loan, it’s essential to provide a clear declaration of how the loan amount will be utilized. Here are some common purposes:

  • Buying a New Home: Achieve the dream of homeownership with the right financial backing.
    Property Renovation: Upgrade or renovate your home to enhance comfort and value.
  • Debt Consolidation: Consolidate high-interest loans into a manageable mortgage plan.
  • Funding Major Expenses: Cover education, medical emergencies, or other large financial commitments responsibly.
The loan amount is sanctioned based on your income, repayment capacity, and most importantly, the declared purpose or end use of the funds.
Mortgage Loan/LAP Loan Required Documents for Self-Employed Individual***
When applying for a mortgage Loan/LAP as a self-employed individual, lenders assess your income stability, business viability, and repayment capacity. Below is a list of commonly required documents:
1. Identity Proof (Any one of the following):
  • Aadhaar Card
  • PAN Card
  • Passport
  • Voter ID
  • Driving License
2. Address Proof (Any one of the following):
  • Aadhaar Card
  • Passport
  • Rent Agreement
  • Bank Statement with Address
  • Utility Bills (Electricity, Water, or Gas – recent)
3. Income Proof:
  • Audited financial statements (Profit & Loss Account, Balance Sheet) for the last 2-3 years.
  • Income Tax Returns (ITR) for the last 2-3 years.
  • Bank statements for the last 6-12 months (personal and business accounts).
  • Business continuity proof (e.g., trade license, GST registration, or any other business registration document).
4. Business Proof
  • Certificate of Business Registration (e.g., GST Registration, Shop Act License, or Incorporation Certificate).
  • Proof of business existence for at least 3 years (e.g., client contracts, supplier agreements).
6. Other Documents
  • Passport-sized photographs (applicant and co-applicant, if any).
  • Cheque for processing fees.
Home Loan Services for Lower Segment Self-Employed Individuals
At Vimala LD Services LLP, we understand that self-employed individuals often face challenges in securing home loans due to the variability of their income. To address this, we offer tailored mortgage Loan/LAP solutions specifically designed for self-employed professionals and business owners.
Key Features of Our Self-Employed Mortgage Loan/LAP Services:
  • Eligibility with One-Year ITR: Even if you have just one year of Income Tax Returns (ITR), you can still qualify for a home loan, provided other eligibility criteria are met.
  • Trade License for One Year: A valid one-year trade license can help establish the continuity of your business operations.
  • CIBIL Score Evaluation: Your creditworthiness is assessed based on your CIBIL score to ensure you meet the financial institution’s requirements.
  • Business Stock Assessment: We consider the value and turnover of your business stock as part of your eligibility evaluation.
  • Customized Loan Solutions: Our expert advisors help you find a loan option that suits your specific needs, business profile, and repayment capacity.
With our extensive network of banks and NBFCs, we aim to make the process simple, transparent, and stress-free. Whether you’re an entrepreneur, freelancer, or small business owner, we’re here to support your dream of owning a home.
Get in touch today to explore your options and start your hassle-free mortgage Loan/LAP journey!
Property Documents
Property Documents (For House):
  1. Land Deed
  2. Chain Deed
  3. Porcha
  4. Khajna
  5. Tax
  6. Mutation
  7. Sanction Plan
  8. Cost Of Estimate
Property Documents (For Flat):
  1. Sale Deed
  2. Tax
  3. Mutation
  4. Development Agreement
  5. Power Of Attorney
  6. Land Deed
  7. Chain Deed
  8. Porcha Khajna
  9. Tax
  10. Mutation
  11. Sanction Plan

Why Choose Mortgage Loan Services From Us?

Whether you’re looking to buy your first home, expand your business with a new office, or invest in real estate, a mortgage loan provides the financial support to turn your aspirations into reality. It’s not just a loan—it’s a stepping stone toward achieving long-term financial goals.

At Vimala LD Services LLP, we simplify the mortgage loan process by offering personalized guidance, transparent terms, and competitive options. Our experts work closely with you to understand your requirements and ensure you make informed decisions that align with your dreams.

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At Vimala LD Services LLP, we provide end-to-end solutions for all your real estate needs. Whether you’re buying or selling a flat, plot, or house, we handle everything from drafting the sale agreement to the final registration process.

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