Apply for loan on HIPL app available on Google Playstore Download Now

  • Quiz
  • CSR
  • Emi Calculator

  • Investors
  • About us
    • Dealer Locator
    • Customer Care
    • Offices
    • RBI IRACP Norms- Impact for NBFCs across Asset Classes
    • Fraud Awareness
logo
  •   Products 
    • Personal Loan
    • Personal loan Interest Rates
    • Documents Required For Personal Loan
    • Personal Loan Eligibility Calculator
    • Personal Loan EMI Calculator
    • Unsecured Personal Loan
    • Personal Loan for Marriage EMI Calculator
    • FAQs
    • Apply Now
    • Salary Advance Loan
    • Personal Loan App
    • Instant Cash Loan
    • Personal Loan for Mobile
    • Short Term Loan
    • Personal Loan for Education
    • Personal Loan For Medical Emergency
    • Personal Loan For Travel
    • Personal Loan for Home Renovation
    • Personal Loan for Marriage
    • Personal Loan for Consumer Durables
    • Personal Loan For Women
    • Quick Loans Online
    • Personal Loan For Doctors
    • Personal Loan For Self Employed
    • Personal Loan For Corporate Employees
    • Personal Loan for Government Employees
    • Personal Loan For Salaried Employees
    • Personal Loan For Chartered Accountant
    • Personal Loan For Defence Personnel
    • Emergency Loan
    • Personal Loan For Teachers
    • Business Loan
    • Business Loan EMI Calculator
    • Business Loan Eligibility
    • Business Loan Interest Rate
    • Documents Required for Business Loan
    • FAQs
    • Apply Now
    • Unsecured Business Loans
    • Bill Discounting Or Invoice Discounting
    • Two Wheeler Loan
    • Two Wheeler Loan Interest Rates
    • Two Wheeler Loan EMI Calculator
    • Documents Required for Two-Wheeler Loan
    • Two Wheeler Loan Eligibility
    • FAQs
    • Apply Now
    • Two Wheeler Loan for Hero Splendor Plus
    • Used Car Loan
    • Used Car Loan Eligibility
    • Documents Required For Used Car Loan
    • Used Car Loan EMI Calculator
    • Used Car Loan Interest Rates
    • FAQs
    • Apply Now
      • Loan Against Property
      • Loan Against Property Eligibility
      • Documents Required For Loan Against Property
      • Loan Against Property EMI Calculator
      • Loan Against Property Interest Rates
      • FAQs
      • Apply Now
        • Loyalty Loan
        • Loyalty Loan EMI Calculator
        • FAQs
        • Apply Now
          • Home Loan
          • Home Loan EMI Calculator
          • Document Required For Home Loan
          • FAQs
            • Insurance
            • Bike Insurance
            • Car Insurance
            • Customer Section
                • PAY ONLINE
                • PAY@STORE
                • PAY FROM ANYWHERE
                • E MANDATE
                • CUSTOMER SERVICE APP
                • MANDATE FACILITIES New
                • Bill Discounting Portal
                • PAY ONLINE
                • MANDATE FACILITIES
              • RBI Kehta Hai
              • Investors
              • Blogs
              • Careers
              • About Us
              Apply Now
              Apply now
              alteenative
              • Home
              • Products
              • Loan Against Property
              • Loan Against Property Eligibility

              Loan Against Property Eligibility

              • Loan up to ₹7.5 Cr
              • Quick Sanctioning
              • Maximum Funding on Property Value
              Apply Now
              • Overview
              • Eligibility
              • Interest Rate & Charges
              • Documents Required
              • EMI Calculator
              • Apply Now

              Loan Against Property EMI Calculator

              Calculate your EMI and choose the most suitable EMI for you

              ₹ 0
              ₹ 0
              ₹ 0

              Mortgage Loan Eligibility

              When it comes to mortgage loan criteria, Hero FinCorp understands that each borrower has unique financial circumstances. That's why we offer flexible eligibility criteria to help self-employed and salaried. We have tailored mortgage loan solutions to fit your requirements. A loan against property can provide you with critical funds to face any financial challenges. The easy application process, affordable interest rate, and simple qualification criteria make this loan the best option for large funding requirements.

              At Hero FinCorp, we ensure that you get a mortgage loan without much hassle by keeping the eligibility criteria for a loan against property to a bare minimum. Contact us today to learn more about our eligibility requirements and get started on your loan application.

              Apply for Loan Against Property

              Hero FinCorp Loan Against Property Eligibility

              Financial emergencies can come knocking at your door at any time. It is not always possible to have sufficient cash reserves on hand to deal with them. Also, if you are planning on starting a new business, getting married, or sending your child abroad for higher education, you will need a large sum of money. In these situations, a loan against property is the best option to cover your funding needs.


              To ensure you have easy access to funds, Hero FinCorp has kept the loan against property eligibility criteria as simple as possible. The following table details our qualifying criteria:
               

              19.png
              Age

              You must be at least 25 and no older than 75 at loan term.

               

              citizenship (1).png
              Citizenship

              A mortgage loan is only available to Indian nationals.

               

              18.png
              Occupation Status

              You must run a profitable business; salaried individuals aren't eligible for mortgage loans.

               

              22.png
              Business Status

              Your business must have been active for at least three consecutive years at the time of application.

               

              21.png
              Maximum Loan Tenure

              The loan is available for a flexible tenure of 15 years. If you reach the age of 60, your repayment period will not be extended.

               

              20.png
              Minimum Loan Amount

              You can get up to 75% of the property's value or Rs 5 crores, whichever is less. The loan amount depends on your income, age, and property condition.

               

              19.png
              Monthly Income

              We do not have a predefined minimum monthly income requirement for this loan.

               

              How is Loan Against Property Eligibility Calculated?

              Loan Against Property eligibility is calculated based on various factors such as the value of the property, the borrower's income and credit history, and the loan-to-value (LTV) ratio. We provide loans against property up to 75% of the property's value. The borrower's income and credit score plays a crucial role in determining eligibility. A higher income and credit score increases the chances of loan approval and reduces interest rates.

               

                Calculate LAP EMI

                Factors Affecting Loan Against Property Eligibility Criteria

                Mortgage loans are classified as secured loans. As a result, the eligibility criteria for a loan against property are straightforward and are based on the following factors

                flexible.png
                Income

                You should have a stable income to be eligible for a Loan Against Property.

                age.png
                Age

                The applicant should be in the age group of 25 to 75 years.

                occupation-status.png
                Occupation

                You should be an entrepreneur or self-employed professional to be eligible.

                property-location-condition.png
                Property Location & Condition

                Your property must be in a prime location, whether residential or commercial.

                credit-report (1).png
                Credit Report

                A good credit history with a CIBIL score of 750 or above is required.

                How to Improve Your Eligibility for Loan Against Property?

                You may have planned to secure substantial financing through a property loan, only to find you're ineligible after using the eligibility calculator. However, focusing on these factors can significantly improve your loan eligibility.
                 

                icon
                Improve Credit History

                Review your credit report for errors or defaults before submitting your mortgage application.

                icon
                Add Co-applicant

                Consider adding a co-applicant with good credit and stable income to reduce debt.

                icon
                Choose Longer Repayment Tenure

                Choose a longer repayment tenure to reduce monthly debt obligations with average income.

                icon
                Alternative Source of Income

                Include secondary income from rent, freelancing, or business to improve loan eligibility.

                Frequently Asked Questions (FAQs)

                The earning potential of an individual decreases when they approach or cross the retirement age of 60 years. In such a situation, it may become difficult for them to manage their EMIs due to lower income. Similarly, someone who has just started their career and is under the age of 25 years may not have a high income and is more likely to skip paying large EMIs.
                A longer repayment period makes your EMIs more affordable. However, it increases the total amount of interest payable for the loan tenure. However, regardless of the affordability, a loan with higher interest rate but shorter repayment tenure of 5 years may result in paying lesser interest than one with a 15-year tenure. Thus, if your budget allows, a shorter tenure loan would be a more feasible option.
                Adding a co-applicant is if you have an average income, lower credit score, poor debt-to-income ratio, or lack of some crucial documents. The co-applicant you wish to include on your application must have a good credit history. Also, the co-applicant is equally responsible for paying the mortgage loan EMI, which ultimately takes away your debt load.
                Your loan against property approval is primarily based on the following five factors. Credit history Income Age Debt-to-income ratio Property condition
                Before arriving at the mortgage loan LTV, the lender first evaluates your repayment potential by assessing your monthly income, nature of business, work experience, and debt-to-income ratio. If these parameters are found to be acceptable, the lender will send an inspecting officer to inspect the property's condition and location. They then calculate the current market value by taking into account the circle rate and other factors. Once they have determined the value of the property, they can lend between 40-75% of the LTV based on your repayment ability.
                The criteria for obtaining a loan against property include- the property's value, the borrower's income, employment status, and credit score.
                The minimum age requirement for a loan against property is 25 years, while the maximum age is up to 75 years.
                Yes, having a good CIBIL score is crucial for obtaining a loan against property. A higher credit score improves the chances of loan approval and may lead to a lower interest rate.

                loan against property eligibility Related Blogs

                Loan Against Property

                Loans Against Property

                What Type of Property Can Be Used for a Loan Against Property?
                27 Jun, 2025
                domicile certificate

                Loans Against Property

                What is Domicile Certificate, Required Document, Eligibility, How to Apply & Download Online
                15 May, 2025
                vastu tips for home entrance

                Loans Against Property

                Top 10 Vastu Tips for Home Entrance
                15 May, 2025
                what is possession certificate

                Loans Against Property

                What is Possession Certificate and How To Get It?
                06 May, 2025
                What_Is_An_Adjustable_Rate_Mortgage_ARM_Loan_14819ef228.webp

                Loans Against Property

                What Is an Adjustable-Rate Mortgage (ARM) Loan?
                08 Apr, 2025
                Stamp_Duty_and_Registration_Charges_in_Delhi_cef1ea1ee2.webp

                Loans Against Property

                Stamp Duty and Registration Charges in Delhi
                01 Apr, 2025
                All_You_Need_to_Know_About_Ancestral_Property_add1d360d9.webp

                Loans Against Property

                All You Need to Know About Ancestral Property
                01 Apr, 2025
                What_is_the_Annual_Value_of_Property_and_How_to_Calculate_7540b04da8.webp

                Loans Against Property

                What is the Annual Value of Property and How to Calculate?
                18 Mar, 2025
                Fair_Value_of_Land_Meaning_and_How_to_Calculate_ccefd5a3c3 (1).webp

                Loans Against Property

                Fair Value of Land: Meaning and How to Calculate
                04 Mar, 2025
                gaj_to_bigha_dd05922372.webp

                Loans Against Property

                बीघा को गज में कैसे बदलें? 1 बीघा‌ में कितने गज‌ होते हैं?
                07 Feb, 2025
                View All
                Loan Against Property Key Pages
                • Loan Against Property Overview
                • Check LAP Interest Rate
                • Check Your LAP Eligibility
                • Document Required For LAP
                • Check Your LAP EMI
                Loan Against Property In Top Cities
                • Loan Against Property in Chennai
                • Loan Against Property in Kerala
                • Loan Against Property in Delhi
                • Loan Against Property in Coimbatore
                • Loan Against Property in Mumbai
                Loan Against Property Related Blog
                • What is Mortgage Loan?
                • Mortgage Loan Types
                • Minimum CIBIL Score Required for LAP
                • Tax Benefits From Your LAP
                • Tips to Get LAP Without Income Proof