Mortgage Loan

Loan against Property is a secured loan. If you own residential or commercial property you could utilize the value of the same by opting for a equitable mortgage loan. The property papers are taken as security for a loan at a much lesser rate than personal loan. The ownership of the property is retained by you. In case of inability to repay the loan the property could be disposed off to repay dues.

Normally loan against property is taken for a long term for working capital, expansion, repay expensive personal loans etc. You could also opt for a overdraft facility, which is renewed ever year.
Loan amount could range from Rs.5 lakh to Rs.5 Cr.
Loan tenor could extend up to 15 years.

Type of Mortgage Loans

When it comes to getting a mortgage loan, home buyers have fewer options than they did even a couple of years ago. In the days of the real estate boom, lenders were much more willing to float exotic loans based on risky terms, but recently they have returned to safe and sensible home financing.

The following is the list of different types of Home Loans you can avail from the market:

1) Fixed Rate Mortgage
2) The Adjustable Rate Mortgage (ARM)
3) Interest Only Mortgage
4) Biweekly Mortgage
5) Other Step Mortgage

Eligibility Criteria
Eligibility Salaried Self Employed
1. Min. age 21 years 21 years
2. Max. age 60 years 65 years
3. Minimum income (annual) Rs.1,20,000 Rs.1,50,000
4. Minimum years in service 1 year Not Applicable
5. Min years of buss. existence Not Applicable 3 years
6. Minimum loan amount : 2,00,000 Rs.2,00,000
7. Maximum loan amount : 1,50,00,000 Rs.1,50,00,000
8. Minimum loan tenure : 1 years 1 years
9. Maximum loan tenure : 15 years 15 years
10. Loan to value ratio: 60%of property value 
60%of property value 
50%of property value 
50%of property value 

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