Virattrathor
Uploaded on Apr 21, 2022
Category
Economy & Finance
If you have applied for a loan and worrying about the interest rate then you must have a look at our presentation, we have covered every risk factor that can have a great impact on your budget. Read them carefully and to know more visit our official website. Visit:- https://www.bajajfinserv.in/mortgage-loan-interest-rate
Category
Economy & Finance
Mortgage Loan Interest
Mortgage
Loan
Interest
What is Mortgage Loan?
Mortgage loan is a type of loan that is taken against the
asset that belongs to a person or an organization. Individual
can avail high funds on their property within a short amount
of time, to get their asset back they need to pay the full
amount with the tenure period they selected. You don't
have any restriction around the funds so you can use it any
way you desire, whether it is for education, travelling, or
business.
See the below slides to know about the factors that affect
mortgage loan interest rates.
Factors Affecting Mortgage Loan Interest Rate
● Property type and location:- The resale value of a
property, and its location, influence the interest rate.
● Credit score:- If our credit score is above 700 then it is
considered good for loan
● Size of loan:- If you take loan of higher amount then
your interest rate is also higher and if you take loan of
lesser amount then your interest rate also goes down.
● Loan tenor:- If you take the amount for a longer period
of time, your mortgage loan interest rate is more but if
you take the amount for a shorter period of time, then
your interest rate is less.
Document Required for Mortgage loan
Salaried Self-Employed
Latest salary slips Income documents like ITR returns and
financial statements
Bank account statements of the previous three months Primary bank account statements of the
previous six months
PAN card/ Form 60 of all applicants PAN card/ Form 60 of all applicants
ID proof ID proof
Address proof Address proof
Document of the property to be mortgaged Documents of the property to be mortgaged
Different Types of Mortgage Loan
● Simple Mortgage
● English Mortgage
● Usufructuary mortgage
● Mortgage via a deposit of title deed
● Conditional sale mortgage
Contact us
6th Floor,Bajaj Finserv Corporate Office,
Off Pune-Ahmednagar Road,
Viman Nagar, Pune – 411014
Email:- [email protected]
Website:- https://www.bajajfinserv.in/
/bajajfinserv /Bajaj_Finserv bajaj-finserv-lending/
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