Loan for Commercial Purchase

Bank's offer loans for commercial properties at an interest rate somewhat higher than the interest rate for housing loans.

You need to have a copy of the title deed and copy of sale agreement. The legal department of the bank need to clear the property.

Bank's assess your repayment capacity. If you can repay with your existing income it's easier. If you wish to repay with the prospective income from the property to be purchased, you need to convince the banker. If have identified a tenant it should help.

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