Eligibility Criteria for Loan Against Property in India

To qualify for a Loan Against Property (LAP) in India, start by ensuring your property is free from legal disputes and has clear ownership. Check your credit score, as a strong score increases approval chances. Gather necessary documents, including identity proof, income proof, and property papers. Assess your income and repayment capacity, as lenders evaluate these factors. Submit your application to a bank or NBFC, after which they will verify your documents, evaluate the property, and determine the loan amount. Upon approval, the loan is disbursed, and you can use it for your financial needs.