Apply for Mortgage Loan in Chennai
Loans Bazaar offers mortgage loans, which is the loan agreed and disbursed against the assets given as advance or collateral. The loan is given on the basis of current market value about 40% to 60%. Mortgage loans can be taken for any purposes and you are never limited with any particular expenses. Such loans are basically taken for marriage, education fees, foreign travel, unexpected home expenses, home renovation, to spend vacation and many more. This is the secured type of multi-purpose loan with quite a longer repayment tenure, however you can also pre-close without any charges. This loan can be taken with lesser interest rate when compared to personal loan which is of unsecured type. If you own any commercial or self-occupied properties, jewels and any other valuable assets then you can get this loan easily.
Apply for Mortgage Loan
There are no any particular documents and personal details to be provided for mortgage loan unlike personal loans. The documents required for mortgage loan would vary with banks you choose. Though some common requirements include:
- Identity proof: Driving license, Passport copy, Voters ID, PAN Card
- Residence Proof: Ration card, Passport copy, Telephone bill, Electricity bill, Driving license
- Income Proof: The proof required for self-employed would differ from salaried individuals. Self-employed may have to provide last 2 years IT returns and salaried need to provide From 16and salary slip
- If you are mortgaging your property such as house, then you need to provide all the required documents copy
- You also need to provide a declaration that the sanctioned loan amount will not be used for any illegal purposes
- The asset will be evaluated before determining the loan amount
- There may not require any special documents if you are mortgaging jewels, though the details needed would vary with banks
Loans Bazaar gives you the flexible opportunity to choose the banks from which you want the mortgage loan and also compare the interest rate, eligibility requirements and probable loan amount to be approved. Based on this, you can quickly and easily get your mortgage loans without waiting for long. This type of secured loan enables getting you fast money on hands than personal loan which is of unsecured type and approved only after thorough verification.