Important Points While Obtaining Loan Against Property without income proof

Majority of the people who don't have proof of income or ITR worry about how they can get a property loan.

Well, you can apply for mortgage loans from home without displaying your tax returns.

But the procedure is quite complicated, so you've got to show all the paperwork the lender asks for.

You may need sudden access to surplus cash, and a property loan is the best way to meet your monetary needs, particularly in times of financial crisis. With Shubham housing Finance, you can enjoy hassle-free repayment with current competitive market rates.

It is better than a personal loan, particularly if you're looking for a large amount.

Here is everything you need to know about availing a loan against property without providing your income proof or ITR:

#1 Apply for a loan with a co-applicant

It is okay if you don't have an ITR to prove. Only add a co-applicant to get a loan. This is the perfect way to get a LAP without ITR. If anyone from your family earning an income, you may add them to the loan as a co-applicant. It can be anyone from your wife, dad, mother, or sister. Having a salaried co-applicant would improve the chances of getting a loan and decrease the pressure of loan repayment.

#2 Explain your income source to the lender

When you apply for a Loan Against Property, our representatives will visit you to inspect the property against which you're taking the loan. At this time, describing the income information to the investor is very necessary so that they are kept updated during the period.

#3 Approach the lender, you already have an account with

Another tip to get a LAP without ITR is to avail loan from a lending institution with which you have a savings account. The lender already knows information about personal and financial matters. If you have the right facts and documents to persuade or reassure the lender, then they approve you for the loan. Since the lender knows your credentials, they might be able to come up with a specially tailored program for you.

So now you can avail a loan on your property from Shubham Housing Finance even if you don't have income proof or ITR, just inform why you don't have the documents. For more information, you can write your queries below!