Loan against property is a simple term. As the name suggests so is its meaning. A loan is provided against the mortgage of property. The loan provided depends on the value of the property. Generally, 40 to 60 percent of the property’s value is provided by the company. Different banks offer different rates depending on their prime lending rate and amount applied for. Loan against no income proof fetches 0.5 to 1.0% more interest as compared to a loan with full documents.