Here is how to apply for a mortgage pre approval;
Before applying, make sure you meet mortgage (loan-against-property) eligibility criteria: age, income, credit score, and property type are key factors.
Prepare your identity proof (Aadhaar, PAN, passport), address proof, income proof (salary slips or ITRs), bank statements, and property-related documents (title deed, ownership proof).
Visit their website or use their mobile app to apply for a pre-approved home loan. Enter your personal, employment, income, and loan-requirement details.
It will perform a hard credit enquiry to assess your creditworthiness. This helps them decide how much they can pre-approve you for.
Upload your KYC documents, income proofs, bank statements, and property papers. It verifies your financial profile and evaluates the property’s legal and technical aspects.
Once your application is assessed, it issues a sanction letter (or a digital approval) that shows the pre-approved loan amount, interest rate, tenure, and other conditions.
The pre-approval typically remains valid for a defined time (e.g., 3–6 months), during which you can search for property. If you don’t finalise a property before expiry, you may need to reapply.
After your offer is accepted, you can convert the pre-approval into a full home loan. Final disbursal depends on property valuation, legal checks, and submission of original property documents.
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How to Apply for a Mortgage Pre Approval?
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2025-11-24T19:29:54+00:00 2025-11-24T19:29:56+00:00Comment
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