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Loan to Purchase Resale House Property

Loan to purchase property from the first owner

Apnaloan.com Research Bureau

10 Aug 2007

Can I avail of loans on resale property?

You avail a loan on resale property if you buy directly from the builder or as a resale from another owner. It primarily depends on your income and repayment ability. Even your repayment track record is taken into consideration. Besides, banks have their own evaluation process before they sanction a loan. Age of the building is a determining factor in this case.