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Mortgage Loan

About Morgtage Loan

A mortgage loan, or simply mortgage is used either by purchasers of real property to raise funds to buy real estate, or alternatively by existing property owners to raise funds for any purpose, while putting a lien on the property being mortgaged. The loan is "secured" on the borrower's property through a process known as mortgage origination. This means that a legal mechanism is put into place which allows the lender to take possession and sell the secured property ("foreclosure" or "repossession") to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms. The word mortgage is derived from a "Law French" term used by English lawyers in the Middle Ages meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure. A mortgage can also be described as "a borrower giving consideration in the form of a collateral for a benefit (loan)".

How we can help?

As one of the leading loan & finance based Company in the India, Easy loanwala provides you with an unbiased platform to analyze and decide upon the available deals in the market. Moreover,

As all banks and financial institutions have different criteria or specifications, it is important that you first check and analyse which ones you are eligible for. thus helping you in selecting higher loan amounts at lower EMIs, i.e. LMIs.

Eligibility Criteria of Home Loan

  • As mentioned earlier, the home loan eligibility is determined by various factors including income, employment status, loan tenure and so on.
  • Any Indian citizen in good standing who is salaried, self-employed or business person with regular source of income can apply for a home loan.
  • The applicant should be above the age of 21 years
  • Professional stability and savings history play a major role in approval of the loan
  • Bad credit history would prove to be a put-off, especially anytime within 3 months prior to applying for home loan.
  • For Business men and Self-employed individuals, the value of loan you are eligible for is majorly determined by the profits and turn over earned by you.