Note: – You can avail 70% – 90% of commercial property value as a loan amount.

What are the factors generally affecting Commercial property loan Eligibility Criteria?

There are Top factors that generally affects Commercial property loan Eligibility Criteria as given below: –

Credit Score below 650: – Usually, applicant with below 650 credit score unable to any loan because credit score plays a critical role in evaluating your loan proposals, therefore try to maintain good credit records to avoid such rejection.

Collateral/Assets: – As you know in 80% of loan types, lenders want to know whether you own any collateral or not, if not then it can become negative & lower your eligibility.

What are the ways to increase Commercial property loan eligibility?

To increase Commercial property loan eligibility, you need to consider points as given below, this will aid you in increasing your eligibility level.

Clear banking statement: – At your loan document verification banking statement looked forward to know your past banking details like crediting & debiting & other history. Hence, always investigate your banking very closely & keep a clear banking statement.

Open account with preferred lender: – Generally, some banks give extra benefits & feature on loan, who are account holders of that specific bank, therefore once you fix your preferred lender from where to apply loan then open account & maintain a good track record, it will build trust & also help you to increase eligibility.