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Required documents

ABOUT Mortgage Loan

A mortgage loan is a loan secured by means of real property through a mortgage note which evidences the existence of the loan and thus a charge is created on that property which secures the loan. Over the period of years, the borrower repays the loan along with the interest, until he/she eventually owns the property free and clear. Mortgages are also known as "claims on property."

Features of mortgage loans such as the size of the loan, maturity of the loan, interest rate, repayment terms, and other characteristics can vary considerably from bank to bank.

Loan can be for any purpose such as Marriage expenses, medical expenses, business expansion or purchase of residential or Non Residential property which should be fully constructed and be free from any encumbrance having a clear and marketable title. However, the funds should not be used for speculation or any illegal purposes.


Any individual owning a property free from any encumbrance is eligible for taking a mortgage loan.

Required Documents

The documents needed vary from case to case. Let Finmart understand your needs and assist you in documents requirement.



The value of the property would is determined through a valuation conducted by the Loan Provider.
Both Salaried as well as Self-Employed people can avail Mortgage Loan, irrespective of the income. However, the amount of Mortgage Loan depends on the repayment capacity of the individual which is determined through his earnings.

The general factors taken into account while determining are listed below:

  • Income
  • Age (Min. 21 Years)
  • Property valuation
  • Existing Liabilities (if any)
  • Current Work Experience
  • Financial Documents of preceding years.
  • Nature of facility to be withdrawn(term loan/overdraft).
There is a huge difference between a Home Loan and a Loan against property. Home Loan is taken only for the purpose of buying a residential property whereas a Loan against Property can be taken for any purpose.
  • Application
  • Processing
  • Documentation
  • Verification/Valuation
  • Sanctioning of the Loan
  • Disbursement
Yes, fee and charges are to be paid to the Bank depending upon their term and conditions.
Yes the property has to be insured against fire, flood, earthquakes and other appropriate hazards during the tenure of the loan.
The repayment of loan is done through Equated Monthly Instalments. It can be paid through Post Dated Cheques (PDC) or Electronic Clearance System (ECS).
The loan against property can be pre-paid along with the pre-payment charges. The prepayment charges vary from bank to bank.
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