A mortgage or a loan against property is a benefit

Mortgages are secured loans that are specifically tied to real estate property, such as land or a house. The property is owned by the borrower in exchange for money that is paid in installments over time

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Factors you should know before avail All Mortage Loans.

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Loan Amount

Lenders usually fund up to a maximum of 70% of the property’s value, but the loan amount also depends on your income and a few other eligibility factors.

Loan Tenure

Most lenders offer a versatile repayment tenure of up to fifteen years. While a extended loan tenure makes your EMIs smaller, a extended tenure also increases the value of borrowing.

Processing fee and charges

Other costs like insurance also will be added to your monthly EMI. The processing fees are collected upfront at the time of disbursement.

Your lender

Make an attempt to try to to extensive research on the choices available within the market before applying for a real estate loan . Your research should also include three crucial factors that formulate a loan - EMI amount, rate of interest , and repayment tenure