As you are here reading this, you are surely thinking of getting a Mortgage loan. You need not worry because you are definitely in the perfect place. We here at Loans Paradise serve various types of loans and Mortgage loans are one of them.
The meaning of a Mortgage loan is that giving any of your owned assets as collateral security and borrowing money from the financier is termed as a Mortgage loan. Having a property of your own is a boon in this world. Properties are a blessing that is used in hard times to get such loans which are referred to as a Mortgage loan.
As indicated by the current rate offered by our organization of moneylenders, you can profit the home credit with the least loan costs from 11.55% to 20.05%. With the banks requiring only 2-3 days' ideal opportunity for the advance endorsement, you can get the advance affirmed once the entirety of your submitted archives is checked. You will get ?cash dispensed in no time.
Talking about the benefits which come along with the Mortgage loans once to place any of your assets as collateral security and grab the loan.
Have a look at the benefits:
- The usage of the secured Mortgage loan is flexible. The loan amount which you get by placing the collateral security, one of your assets, you can use for paying any kind and every kind of expenses except for speculative reasons.
- There are many chances of getting a mortgage loan of a higher amount than you are expecting. It depends on the value of the asset you are putting as collateral security for grabbing a Mortgage loan from Loans Paradise.
- The period of repaying the taken mortgage loan is higher and not small so that one can easily repay the loan in the demanded period. As the tenure of repaying the loan is high, there are chances of paying fewer installments annually.
- Loans Paradise is known for the short and simple documentation process without the long boring queues regarding the same. The following is the list of documents we need to give you a Mortgage loan and along with your documents, the financer also demands the papers of the asset which you will be putting as collateral security with Loans Paradise.
Have a look at the documents which are listed below:
- As to prove that you are a citizen of India, we need one of many of your identity proofs whether it can be your Aadhar card or PAN card or Voter ID card or Passport copy or Driving license. Make sure along with Xerox you bring original ones also together to verify it.
- A proof of your current address in any of the documents whether it can be a Ration card or electricity bill or Driving license or passport copy or Latest gas bill or latest property tax bill, bank passbook.
- Any of the above-mentioned documents can be used for age proof or if any other certificate regarding the age you can bring it.
- Property Documents which includes a xerox copy of every document related to the property you have purchased.
- For fetching the loan, we will also need your Bank statement for the latest 3 months.
- The ID card which you are provided within your company where you work as proof of employment.
After becoming a customer of Loans Paradise, anyone need not worry about the finance at all as we serve various types of loans with a low rate of interest. Talking about the surety of the loans, we will take into consideration the asset you will give to us as collateral security. Whichever asset you will give to us to make sure that you will repay the loan amount or else we will take that asset to repay your taken loan. The loan amount will be somewhere between the actual price of the asset given as the collateral security or less than that but not more than that.
So to take more amount in a Mortgage loan you need to make sure that the asset you are putting with us as collateral security should be of higher value so that you can get a higher amount of loan.
We here at Loans Paradise will make sure that your asset which you have given us as collateral security of your Mortgage loan will be in the best condition whether it's your car or anything else. We will make sure that it will be maintained properly.
The main reason and benefit of getting a Mortgage loan from Loans Paradise are that you will get the amount of loan which will be equal to your asset value which you have given us as collateral security. But firstly the one who is willing to get a Mortgage loan should pass the necessary criteria and make himself eligible for taking a Mortgage loan.
Below given is the eligibility criteria of an individual to apply for a Mortgage loan:
- The person who is applying for a Mortgage loan should be more than or equal to 23 years and should be less than or equal to 58 years in age.
- As per the law Loans, Paradise is only allowed to give Loans to an Indian citizen. So the person applying for a loan should be a resident and citizen of India.
- The Permanent address of the person should be disclosed at the time of applying for the Mortgage loan and along with the permanent address, there should be the stability of 6 months at least.
- A person should have a bank account that is active and is used daily.
- The person willing to get a secured mortgage loan should be having an income of a minimum of rupees 30,000 per month.
- Loans Paradise also takes into consideration the person's credit score before giving the loan. So make sure you have maintained a good credit score until now which should be around >700*.
