Friday, July 9, 2010

Is there any bank or non bank fin.. institu or pvt firms provide loan against property without income proof ?

Is there any bank (private,mnc,scheduled,cooperative or pvt ltd firms) or non banking financial institutions or any companies provide loans against property (open land and house) without income proof and income tax returns purely on property base? properties in hyderabad,A.P. loan providers can be from anywhere in india?

Loan is granted only based on your repayment capacity. They don't give loan for the purpose of acquiring property. So it is doubtful.

It is my understanding that a few lenders that are starting to make no-doc and no proof of income loans again, however they require high FICO scores (at least 780+) and large down payments.

Check with some loan brokers and might do a Google search.

if the sole owner is more than 60 years old (all in case of joint ownership),you can get reverse mortgage.

yest they can give but why are you taking the loan and how is thier repayment guaranteed,as they never want your property,it is a business they are lending for interest income and they do not want any hassles

is it ok if it is a money lender

There are number of nationalised banks, HDFC etc. giving mortgage loan i.e. loan against property, but not without any income proof, and tax papers viz.Form No.16

no, banks are not provide loans without income proof

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