What is Loan to Value in Mortgage Loan?

If are about to apply for a Mortgage Loan, it is essential that you have a complete idea about Loan to Value (LTV). It helps you decide which type of property loan to apply for.

Depending on your employment status, you can apply for a Loan Against Property with Bajaj Finserv up to a maximum of–

  • Rs. 1 Crore for a salaried individual.
  • Rs. 3.5 Crore for a self-employed person.

However, the amount a person will be eligible to avail depends on the Loan to Value ratio.

What is Loan to Value?

Loan to Value or LTV is the maximum loan amount the borrower can avail depending on the current market value of property to be mortgaged. It is a ratio of the value of the property and the loan amount sanctioned against it.

It is also one of the essential criteria a lender considers to evaluate the risk factor associated with sanctioning a property loan. The LTV you avail can also help you calculate your Mortgage Loan EMI.

The lower this ratio, the better are your chances to avail the loan along with attractive benefits and features. Bajaj Finserv offers affordable Loan Against Property interest rates to applications even with a high LTV.

Also Read: What is Loan Against Property tenure

Evaluate the applicable Loan to Value for your property and assess the loan amount you are eligible to avail. With Bajaj Finserv, you can avail a high Loan to Value of as much as 80% of the mortgaged property’s current market value.

Mortgage Loan Eligibility Criteria

Avail Loans against Property with high LTV by fulfilling the easy-to-meet Loan Against Property eligibility criteria of Bajaj Finserv.

  1. For Salaried Individuals – Applicant should be an Indian resident employed with a private company, an MNC or in the public sector and should be between 33 and 58 years of age.
  2. For Self-Employed Individuals – Applicant should be a resident of India with a regular source of income. The age limit is between 25 and 70 years.

Also, you should reside in one of the cities listed by Bajaj Finserv. Keep the documents handy and fill up the online application form to easily apply for the Mortgage Loan.