You may need a loan to give shape to your aspirations and dreams.

But, do you know what lenders do after you apply for a loan against property?

Read on to discover the untold secrets of loan against property approval process. Knowing this will give you an edge in the loan application process, the edge that can help you to negotiate better.

How Can You Apply For a Loan Against Property?

There are two ways of applying for a loan against property – online and offline.

If you apply through the online channel, you have to visit the lender’s website and fill up the enquiry form. Post this, a representative from the customer service department would call you and ask for details.

Once that is done, the executive will send your details to a branch near your place of residence. The branch representative will visit your home or office and physically verify the documents. They would then send the application and documents to the regional processing unit, where loan officials would re-verify the documents and approve or reject the loan.

It is worth noting that the PNB Housing Finance mortgage loan interest rates start from 9.80% and may go up to 11.75%. The interest rate you get depends largely on your credit score and income and expense ratio.

If you prefer to apply for a loan against property offline, then you have to either visit the nearest lender’s branch or contact a property broker or consultant registered with the lender. The broker would do the first round of negotiation and document verification.

After this, your document will be sent to the nearest branch of the lender, from where loan official would visit your home and office, discuss the loan, and verify documents. The rest of the process will be the same as the online one.

Let us now understand each step in detail and the things you need to do to ensure seamless approval of the loan against property. Please note that the steps mentioned below are applicable for online and offline modes.

1. Fill the Application Form

The application form is your gateway to the lender’s office. It must contain all your personal and property details that are pertinent to the loan. Make sure you give correct information in the application form, as any attempt to hide details may make you ineligible to apply for the loan against property.

2. Cooperate With the Loan Official(s)

The first round of verification will be telephonic, where your details will be verified, and the loan amount will be confirmed. Post this, a loan officer from the nearest branch office will visit you. The official will check your original documents and property papers. You should cooperate with the loan official, as it is based on this report that the regional processing unit will decide the loan amount and the interest rate.

3. Receive the Sanction Letter

The lender would issue a sanction letter which would contain the loan amount, interest rate, tenure, and other terms. You would have to reply either in the affirmative or the negative.

4. Property Inspection

Provided that you accept the lender’s offer, the lender would send an official valuer to inspect your property. The valuer might consult government authorities to determine the legal status of the property.

5. Receive Funds

The last and the best part of the loan application process is getting the funds in your account. Typically, it shouldn’t take more than 72 hours for the lender to transfer the funds.


Applying for a loan against property can be easy if you choose an industry-leading lender like PNB Housing Finance.

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