“Easy Finance” is just a term and it is not that easy to get finance. It is for sure that we need huge sum of money to acquire a mortgage loan against property and we cannot arrange it through other ways. In such a case, it is sound enough to deploy our own resources.

As there are several banks and other lending institutions, it is stressful for a person to decide on getting loan against property in India (especially Mumbai). It becomes difficult to reach at a market value with which both the lender and receiver agree because the property rates in India are increasing regularly. Finanzmart provides following information for you to have knowledge regarding Loan against Property:

• A loan should be secured as it is provided against your property.
• The property can be self-occupied, residential, commercial or rented.
• Lending bank or financial institution should assess the market value of the property.
• EMI amounts are not that high because of the moderate interest rates.
• You can use the property even while it is secured against the loan.
• Your monthly income and the value of your property will determine the eligibility for receiving the loan.
• Documents required: Identification, Income of proof, Property ownership, Income tax returns & Property tax.
• Along with regular interest charges, borrower has to take care of processing fees and charges like registration, valuation and legal.
• Ask from the lender if there are any charges for late EMI payment or early repayment of loan amount.
• Know more about terms and conditions of lending institution.

 There are many formalities involved while obtaining a loan against property. Thus you have to look for various options and select the most beneficial one. Visit our loan comparison web page or take help of Finanzmart agents.