LoanS

Mortgage Loan

Secure your dream property with competitive rates and extended terms through a secured loan from reputable banks or financial institutions.

Mortgage Loans in India: Your Guide to Secured Financing

Unlock Your Financial Goals with a Mortgage Loan in India

A mortgage loan is a secured loan offered by banks and NBFCs (Non-Banking Financial Companies) in India. It allows you to borrow funds against a property (residential, commercial, or industrial) or vacant land, typically up to 80% of its market value. You can utilize these funds for various business or personal needs. You repay the borrowed principal amount with interest over a predetermined loan term. The property itself serves as collateral for the loan.

Types of Mortgage Loans Available in India:

  • Secured Business Loan: Used for starting, expanding, or refinancing existing businesses. It can also cover high-interest debt consolidation, partner buyouts, equipment purchases, marketing initiatives, hiring, and other business expenses.
  • Purchase Loan: The most common type, used to finance the purchase of new constructions, resale properties, or land.
  •  Balance Transfer Loan: Consolidate and potentially lower your interest rate by transferring your current
    mortgage to a new lender.
  • Home Improvement Loan: Leverage the equity in your existing property to finance renovations, extensions, or other improvements.

Why Choose Bankvallet for Your Mortgage Loan?

  • Simplified Process: Our streamlined application process saves you time and ensures a smooth experience.
  • Expert Guidance: Benefit from our experienced mortgage specialists who will guide you through every step, from selecting the right loan program to navigating the closing process.
  • Competitive Rates: Leverage our partnerships with various lenders to secure the best possible interest rates for your profile.
  • Transparency & Convenience: Apply online and receive clear communication throughout the entire process. A dedicated relationship manager is always available to answer your questions.
  • Technology Advantage: Utilize our pre-qualification tool to estimate your borrowing power and explore loan options from the comfort of your home.

Things to Consider Before Applying for a Mortgage Loan: 

  • Down Payment: Most lenders require a down payment, typically ranging from 10% to 20% of the property value.
  • Interest Rates: Understand the difference between fixed and adjustable-rate mortgages. Carefully compare rates offered by different lenders to find the best fit for your financial goals.
  • Loan Term: Choose a loan term that aligns with your financial situation and repayment comfort. Consider the impact on your monthly payments.

Mortgage Loan Eligibility:

Lenders consider your credit score, income stability, and employment history when evaluating your application.

Mortgage Loan Application Documents (may vary by lender):

  • KYC documents (PAN card, Aadhaar card, etc.)
  • Proof of income (salary slips for salaried individuals, ITRs for self-employed individuals)
  • Property documents (sale deed, parental documents, property plan approval, any revenue records)
  • Bank statements for the past 12 months

Get Started on Your Mortgage Journey Today!

Bankvallet simplifies your loan against property journey. We’ll guide you towards the best mortgage solution tailored to your unique needs. Contact us today to speak with a mortgage specialist and get a free quote!

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