Current income - In the case of salaried employees, the furnishing of the salary slips for the last three months and a bank account statement for the previous six months is necessary. In the case of self-employed professionals or business entities, financial statements like Balance sheets and Profit &Loss; statements are required. One should supplement these financial statements with the bank statements to enable the banks to co-relate them. Continuity of Employment - A letter from their employer that the proposed borrower is employed with them should suffice. You should supplement this information with Form 16, and IT returns for the past two years. Self-employed and business concerns can submit proof of doing business like GST registration certificates, partnership deeds, and Certificate of Incorporation (for companies). Current Obligations - The take-home pay norms come into effect. Usually, one should have a take-home pay of 50% after accounting for all the EMIs including the proposed one for the Loan against Property. Hence, it is imperative for the borrowers to declare their current obligations. Credit History - The lending banks are members of CIBIL (Credit Information Bureau (India) Limited). They can pull out the records from CIBIL to determine your credit score. Usually, a credit score in the range of 600 and above is acceptable. Value of the Property - Your eligibility depends on the value of the property. The LTV ratio is in the region of 40-70% depending on the location of your property. Legal Scrutiny Report - Banks have panel advocates to carry out the search of the property in the respective Sub-Registrar office to determine the chain of ownership. This process also enables them to determine if there are any encumbrances on the property. This search is critical as it allows the banks to understand whether you have the eligibility to create the equitable mortgage in favour of the bank. Age of the Borrower - The minimum age of the borrower should be 21 years at the time of application.