Apply for Mortgage Loans
Mortgage loans, commonly known as a loan against property, are an avenue where individuals pledge their property as collateral in exchange for funds. At its core, a mortgage loan is a type of secured loan specifically tied to real estate. As property prices rise, many homeowners consider refinancing. Refinance permits borrowers to replace their existing loan with a new loan, often at lower mortgage rates.
Our expert mortgage advisors are dedicated to guiding you every step of the way, ensuring a stress-free experience.
We provide the highest loan value of your property – up to 80%. With extended loan tenure up to 25 years, you end up paying lower EMIs. Any financial issues relating to business expansion, children’s further education, weddings, or medical bills can be readily addressed with Loan Against Property.
We offer funding for all types of properties such as residential, commercial, industrial, plots, schools, hospitals, restaurants, godowns, etc. If you have already availed a Loan Against Property with another financier, you can transfer it with ease & enjoy amazing benefits like the top-up facility.
Easy Documentation Process
Applicants need to provide only a few essential documents, including KYC, address proof, property documents, and income proof
Simple Eligibility Criteria
Applicants need to meet only our basic eligibility parameters to be eligible to make the most out of our Loan Against Property, including a stable source of income, and a good credit history.
Competitive Interest Rates
Applicants can enjoy a lower interest rates for mortgage loans compared to unsecured loans, basis their eligibility.
Flexible and Long Tenor
The repayment tenor goes up to 17 years for eligible applicants to assist in comfortable repayment of the loan.
Loan Against Property Eligibility Criteria
Loan Against Property eligibility criteria are simple and easy-to-meet. Meet these criteria to get a loan at an attractive interest rate from us.
- Applicants must be residing citizens of India
- Applicants must have an ideal CIBIL score of 750 or higher
- Salaried applicants must be between 28 and 60 years** of age
- Self-employed applicants must be between 25 and 70 years** of age
- Salaried applicants must be employed with a public, private or a multinational organization with a minimum work experience of 3 years
- Self-employed applicants must be able to establish a minimum of 5 years of business
**The upper age limit is considered as age at the time of loan maturity. Additionally, the upper age limit for applicants is subject to change, depending on the property profile.
For Salaried
- Photo Identity Proof, Address Proof: As per RBI defined KYC guidelines
- Income Proof: Latest 2 years’ ITR/Form 16, Last 6 months’ bank statement reflecting salary credit, latest 3 months’ salary slips
- Details of Running Loans: Sanction letter, amort schedule/account statement
- Property Document: Complete chain of property title deeds, approved layout/plan
For Self-Employed
- Photo Identity and Address Proof: As per RBI defined KYC guidelines
- Business Proof: Shop Act License/MOA & AOA/GST registration/ITR, Partnership Deed.
- Details of Running Loans if any: Sanction letter, amort schedule/account statement
- Property Document: Complete chain of property title deeds, approved layout/plan
Any one of the additional documents set basis selected program
- Basis banking
Latest year ITR along with latest year’s financials, Latest 6 months Bank statements for loans up to 2 Crs, otherwise 12 months - Basis GST
Last 1 yr ITR, 1 yr financials/ CA net worth statement, Latest 3 months’ bank statements, GST returns for the last 12 months’ - Basis Income
Latest year ITR along with latest year’s financials, Latest 6 months Bank statements for loans up to 2 Crs, otherwise 12 months
Fees and Charges for Mortgage Loan
| Particulars | Charges |
|---|---|
| Loan Processing Fees | 0.5% to 4% of Loan Amount |
| Loan Cancellation | Usually around Rs 3,000 |
| Stamp Duty Charges | As per actuals |
| Legal Fees | As per actuals |
| Penal Charges | Usually 2% per month; 24% p.a. |
| EMI / Cheque Bonus | Around Rs 400 per bounce |
Contact
- 1009 Span Trade Centre, Opp Kocharab Ashram, Paldi Ahmedabad 3800015
-
+91-8080377798
+91-9106434196 - info@taxchanakya.co.in
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