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Mortgage Loan

About Mortgage Loan

A morgtage loan credit, or basically contract is utilized either by buyers of genuine property to raise assets to purchase land, or on the other hand by existing land owners to raise assets for any reason, while putting a lien on the property being sold. The loan is "verified" on the borrower's property through a procedure known as home loan start. This implies a lawful component is established which enables the bank to collect and sell the verified property ("dispossession" or "repossession") to take care of the advance in the occasion the borrower defaults on the credit or generally neglects to maintain its terms. The word contract is gotten from a "Law French" term utilized by English legal advisors in the Middle Ages signifying "passing vow" and alludes to the vow finishing (biting the dust) when either the commitment is satisfied or the property is taken through abandonment. A home loan can likewise be portrayed as "a borrower giving thought as an insurance for an advantage (advance)".

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.