Mortgage Loan Process

A mortgage loan, also known as a Loan Against Property (LAP), is a secured loan that allows you to borrow funds by mortgaging an eligible residential or commercial property. The property serves as collateral for the loan, while you continue to retain ownership and use of it

The amount you can borrow depends on factors such as the property’s assessed value, your income, repayment capacity, credit profile, and Loan-to-Value (LTV) ratio, among others.

Bajaj Housing Finance offers one of the fastest mortgage loans with a lower interest rate. Applicants can easily check how much EMI they have to pay using a property loan EMI calculator and apply accordingly.

The eligibility criteria for a mortgage loanby Bajaj Housing Finance are simple and easy to meet. Meet these criteria to get a loan at an attractive interest rate from us:

• Applicants must be residing citizens of India 
• Applicants must have an ideal CIBIL score of 750 or higher
• Salaried applicants must be between 28 and 58 years** of age
• Self-employed applicants must be between 25 and 70 years** of age
• Salaried applicants must be employed with a public, private, or multinational organisation with a minimum of 3 years of work
• Self-employed applicants must be able to establish a minimum of 3 years of business vintage

**The upper age limit is considered as age at the time of loan maturity. Additionally, the upper age limit for applicants is subject to change, depending on the property profile.

Documents required for a Mortgage Loan

To apply for a mortgage loan, you need to submit the following documents:

Documents for Self-Employed Applicants

• PAN Card or Form 97 (mandatory), along with Aadhaar Card or Voter ID
• Profit and Loss (P&L) statement
• Latest Income Tax Return (ITR)
• Relevant property documents

Documents for Salaried Applicants

• PAN Card or Form 97 (mandatory), along with Aadhaar Card or Voter ID
• Salary slips for the latest three months
• Relevant property documents

Note: The documents listed above are indicative. Additional documents may be requested during the loan assessment and processing stage.

Here’s how you can make your mortgage loan approval quicker and smoother:

1. Before you even apply, make sure you’ve gathered all essential documents. Having these ready can ensure quicker verification and approval.

2. Lenders review your credit history to assess your repayment behaviour. A strong credit score, typically above 750, can improve your chances of approval.

3. Use a mortgage loan eligibility calculator to find a realistic amount that aligns with your finances to ensure faster approval.

When you apply for a mortgage loan with Bajaj Housing Finance, you can expect quick disbursal within 72 hours* after document verification and approval.

To apply for a mortgage loan online, follow these steps:

1. Go to the Loan Against Property application form.

2. Enter your basic details, including your name, mobile number, and employment status.

3. Select the type of loan you wish to apply for.

4. Enter your net income so that suitable loan options can be identified based on your financial profile.

5. Provide your residential PIN code and the loan amount you require.

6. Click on ‘Generate OTP’ and complete the OTP verification.

7. Enter the required financial and property-related details.

8. Review the information provided and click on ‘Submit’ to complete your application.

After you submit the application, a Bajaj Housing Finance representative will contact you within 24 hours* to assist you with the next steps, including document submission and verification.

*Terms and conditions apply