rental security1

Loan Under Rental Security

HomeLoans4u can also provide loans under rental securitization. This type of loan is given by banks keeping the future rent of an owned property as security. Several people invest in commercial properties/malls even during the developmental stage to take advantage of future growth.

These individuals qualify for loans from the bank based on the expectation of future rent payments from their invested properties. If you own a freehold commercial building/property that is being rented out, you may be able to get a loan for up to 50% of the property’s value or 85% of the net monthly rent collected would be taken into account for the loan’s monthly EMI. This type of loan is provided on both for urban or rural properties.

Salaried

  • Application form to be filled and signed by applicant and co-applicant.
  • One Passport Size photo of applicant and co-applicant.
  • Copy of Latest Telephone bill for residence address proof.
  • Copy of Pan Card of applicant and co-applicant.
  • Copy of last 3 months payslip and CTC letter.
  • Copy of last 2 years Form 16 and Saral.
  • Copy of last 6 months bank stmt where salary is credited.
  • Processing fee cheque in favour of Bank/ HFC’s.
  • Details of Present loans with sanction letter and repayment track record.

Self –Employed

  • Application form to be filled and signed by applicant and coapplicant.
  • One Passport Size photo of applicant and coapplicant.
  • Copy of Latest Telephone bill for residence address proof.
  • Copy of Pan Card of applicant and co-applicant.
  • Copy of Registration certificate of firm.
  • Copy of last 2 years ITRs with Statement of Income, Profit & Loss Account, Balance sheet with Form 3cb & 3cd.
  • Copy of last 12 months bank stmt
  • Copy of Partnership deed in case of partnership firm.
  • Copy of MOA & AOA in case of Pvt ltd co.
  • Processing fee cheque in favour of Bank/ HFC’s.
  • Details of Present loans with sanction letter and repayment track record.

Pre-Approved Projects (Direct Purchase from builder)

  • Copy of Allotment letter.
  • Copy of Cost Breakup letter.
  • Copy of Sale and Construction agreement.
  • Copy of Assignment agreement (if transferred from assignor)

Un- approved Projects (Direct Purchase from builder)

  • Copy of legal documents of the project.
  • Copy of approved plan for the project.
  • Copy of Allotment letter.
  • Copy of Cost Breakup letter.
  • Copy of Sale and Construction agreement.
  • Copy of Assignment agreement ( if transferred from assignor).

Individual Resale house:

  • Copy of legal documents of the property.
  • Copy of approved plan for the property.

Plot Purchase:

Pre-Approved project:

  • Copy of Allotment letter.
  • Copy of Cost Breakup letter.
  • Copy of Sale agreement.

Un- approved Projects:

  • Copy of legal documents of the project.
  • Copy of approved plan for the project.
  • Copy of Allotment letter.
  • Copy of Cost Breakup letter.
  • Copy of Sale agreement.

Balance Transfer loans:

  • List of original documents held in bank
  • Foreclosure-Quote.
  • Loan sanction letter and Repayment track record.

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