Mortgage Loan is a secured loan provided by banks, home finance companies and NBFC for residential or commercial real estate. These loans are usually offered at a lower interest rate than an Personal Loan or Business Loan and are repaid within a reasonable time frame.
Anyone who owns a used property can avail of such loans, whether paid or self-employed in a commercial or professional enterprise.
A secured property loan is a boon for both business owners and employees. This opportunity can be used by self-employed people who are looking for funds to expand their business.
A loan Against Property is nothing more than a loan that you use to keep your business / residential property as collateral. Another name for a Mortgage Loan is a secured loan. The loan is secured by the property of the person applying for the loan. The value of your property determines the amount of any loan that will be given to you.
Apply for loanThere are several reasons for getting a Mortgage Loan. Some of them are listed below:
By pledging a property, you can claim a higher loan amount. Lenders base their loan amount approval on the value of the property you pledge.
Since lenders have your property as collateral, they not only sanction large amount of funds, but also charge you a low rate of interest on loan against property.
One of the most important benefits of Mortgage Loan is the lengthy tenure it offers. Choosing a longer tenure will help you minimize your monthly EMIs. This will give you enough space to save some of your income for unplanned and urgent expenses.
You’re eligible to avail a loan against property by pledging diverse property ranging from your present home, to an office space. This helps you weigh the prices of the property your own based on their current valuation and then choose the right one.
Any salaried, self-employed or professional Public and Private companies, Government sector employees including Public Sector is eligible for a loan against property.
Applicant's maximum age at maturity: 60 years.
Minimum Net Monthly Income: Rs 15,000
Applicant should have the bank specified credit score.
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Our goal at Qwikpay Company is to provide access to Personal Loans, Home Loan, Business Loan, Professional Loan at insight competitive interest rates. We are the loan provider, you can use our loan product.
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