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Mortgage Loan Overview


Index o What is mortgage? o Who can avail mortgage loans? o Difference between home loan and mortgage loan o How much loan can be received? o Advantages of personal loan o Purpose of taking mortgage loan


What is Mortgage? o A mor tgage loan is a secur ity instrument t hat you give to the lender. This protects the lender's interests in your proper ty

o In residential mor tgage, a home buyer pledges his or her house to the bank . Thereaf ter the bank has a claim on the house

o In case the buyer is not able to clear his her mor tgage debt, the bank may sell the house


Mortgage Loan Eligibility  Irrespective of your income, both salaried as well as self-employed can opt for mortgage loan  The eligibility factors of mortgage loans are as follows:  Income  Age (Min. 21 Years)  Property Valuation  Existing Liabilities (if any)  Current Work Experience  Financial Documents  Number of Dependents


Difference Between Home Loan & Mortgage Loan  Basic Definition  Home Loan is taken for the purpose of buying a residential property  Mortgage Loan is a loan taken against property for any purpose  What is it?  A loan is a type of debt  A mortgage is a type of loan  Use  The borrower receives an amount from the lender; this amount is paid back  With the help of mortgage loans in India, individuals/businesses can buy real estate property without the requirement to pay the value immediately


How Much Loan Can I Get? ď‚Ą Based on the registered value of your property, you can get mortgage loan ď‚Ą This value also depends on the banks policy and the property type


Advantages of Mortgage Loan  Mortgage loan is cheaper than personal loan

 The tenure period is longer than personal loan

 The rate of interest is lower

 Simple documentation

 Fast approvals


P u r p o s e o f Ta k i n g M o r t g a g e L o a n  Mortgage loan is cheaper than personal loan

 The tenure period is longer than personal loan

 The rate of interest is lower

 Simple documentation

 Fast approvals


Thank you


Mortgage Loan - Overview