Can a retiree with a marginal income obtain a loan against mortgage of property?

I am a retired 63 year old and receive a small pension of about Rs. 2.5 thousand p.m.. I also work from home and have a contract with a US based Company which pays me an average of Rs. 5 thousand per month (depending on my work input). I have no monthly running expenses as I live with my son. The property we live in is owned by me and is valued at over Rs. 25 lakhs. My son is prepared to be my co-borrower on the basis of his monthly earnings, if my earnings are not acceptable. I am in perfectly good health.