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Mortgage loan Overview

A Mortgage Loan is a type of secured loan where you can avail funds by providing your asset as collateral to the lender. A mortgage is usually a loan sanctioned against an immovable asset like a house or a commercial property. The lender keeps the asset as collateral until the borrower repays the total loan amount. Individuals, Self-Employed, Proprietors, Professional, Partnership Firms and Private Limited Company are eligible for mortgage loan. Mortgage loan provide against residential, commercial & industrial property. Lease Rental Discounting (LRD), Commercial & Industrial property purchase come under a mortgage loan only. The focus of Finanza Advisory is to analyse, evaluate, and recommend the best bank / NBFC/ HFC to fulfil your financial need. We itself analyse your financial, as per your business/ Income paper, we will provide you competitive Rate of Interest (ROI) and other component as per current market.

Mortgage Loan Finance Process

  • Application form & document submission
  • CIBIL report check
  • Residence verification
  • Office verification
  • Eligibility calculation
  • Personal discussion
  • Legal & Technical 
  • Credit decision
  • Offer letter
  • Legal kit signature and other process
  • Disbursement

Criteria for Mortgage Loan

  • An Indian Resident 
  • Individuals, Self-Employed, Proprietors, Professional, Partnership Firms and Private Limited Company and are eligible for mortgage loan 
  • For salaried/ Individuals maximum age of applicant at loan maturity is 58 years or date of retirement
  • Minimum age of 21 years
  • For Self-Employed or Professional maximum age of applicant at loan maturity is 65 years 
  • Tenure for mortgage loan from 5 years to 20 years
  • Rate of Interest between 8.25% to 11.75%
  • Processing Fees 0.50% to 1% + GST

Documenst required for Mortgage Loan

  • Profile 
  • Legal proof-- GST Certificate with GSTR-3B, Shop Establishment etc. (for Self-Employed) 
  • Identity & Address proof  ( Pan Card , Aadhar Card ) 
  • Income documents ( Form 16 / Income Tax Return ) 
  • Bank statement 
  • Existing loan / Obligation details 
  • Property document 

Balance Transfer of Mortgage Loan

Why we do balance transfer?
We do balance transfer because of good and competitive rate of interest and additional top-up for business expansion, working capital and for short term debt consolidation.

Required additional documents for Mortgage Loan BT:-

  • Required Property LOD (List of Document) from Existing Bank (From you are transferring your loan).
  • Required FC (Foreclosure letter) from Existing Bank (From you are transferring your loan).