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Checking your eligibility

Finfree Enterprises follows the Indian Government’s policies while processing a loan application, or for other finance-related services. However, different banks & NBFCs have different eligibility criteria to qualify for a personal loan with them. Listed below are the basic minimum eligibility criteria that are commonly considered by all the financial institutions in our network while providing personal loans to individuals.

Age

The age limit for applying loan is 23 years – 58 years

Residency

The applicant should be a legal Indian resident

Permanent Address

There should be a permanent address with 6 months stability

Bank Account

An active bank account should be present

Income

Applicant should be earning regular income of >= 30K/Month

Credit Score

Maintain a good credit score of >700*

What are Mortgage Loans?

Best Mortgage Loans in India

Having a home or a fixed property is a blessing and can be used as a financial assistance in more than one way. Your property can be used as an optimal crediting source by leveraging it and utilizing it up to its full potential by taking a loan against it. At Finfree Enterprises, you can easily apply for and avail best mortgage loans against property, and use the funds for any genuine personal uses like paying for educational fees, wedding expenses, medical emergencies, to expand your business, to buy any other additional property, etc., which may need a relatively larger amount of money than the personal loans.

Mortgage loans are secured loans in which an asset is placed as collateral with the financier, who will provide loans as per the value of the asset. The lenders will approve a loan amount depending on the value of the property placed as collateral. Although there are many types of mortgage loans, Finfree works to provide the Mortgage loans across India to our borrowers and help them overcome their financial crisis with ideal solutions and manageable repayment options.

We provide quick mortgage loans up to 75 lakhs* against residential property & commercial property at the most considerable interest rates with manageable repayment options. We understand how important your property is, and so, all your related documents will be in safe hands until complete loan disbursal & completion of the full repayment. Our financial team ensures that the complete process happens in a smooth and unstrained manner without any hurdles.

According to the current rate offered by our network of lenders, you can avail the home loan with lowest interest rates from 11.55% to 20.05%. With the lenders taking just 2-3 days’ time for the loan approval, you can get the loan approved once all your submitted documents are verified. You will get your money disbursed within no time.

Reasons to choose a mortgage loan

Flexible usage

Except for speculative reasons, there is no restriction on the usage of the loan amount.

Higher loan amount

There are chances of getting a higher loan amount of money with the asset pledged.

Higher tenure period

The tenure period is high and will make it very easy for you to repay.

Documents Required To Process A Mortgage Loan

Like the eligibility criteria, different banks need different documents for verification that proves the authenticity of the borrower. At Finfree Enterprises, along with a completely filled-in application form with a recent photograph, you may have to submit a couple of more documents, as needed by the financial institution with which you are applying for a mortgage loan. Mentioned below are a few documents that should be submitted for the verification process.

Identity Proof - Pan Card / Aadhaar Card / Voter ID card / Driving License / Passport Copy

Current Address Proof - Driving license/ Passport Copy/ Latest Gas Bill / Latest Property Tax Bill / Bank Passbook / Ration Card

Age Proof - Pan Card / Aadhaar Card / Voter ID card / Passport Copy / Any Other Statutory authority Certificate

Property Documents - All Documents Related To The Property Being Mortgaged

Bank Statement - Updated Latest 3 Months Statement

Company ID – For Employment Proof

Salary Slip – Last 3 Months

Form 16 – If Required

Representative Example

INR 50,00,000/- taken as a loan amount over a loan tenure of 120-months (10 years) at an annual interest rate of 11%* will have a total payback amount of Rs. 82,65,001/- with a total payable interest amount of Rs. 32,65,001/- and a monthly EMI of 68,875/-.

Finfree Enterprises is a financial advisory platform in Hyderabad, Telangana that connects creditworthy borrowers with trustworthy financial institutions like the banks & NBFCs, to provide suitable fundraising options for individual applicants & for businesses across India, at the most considerable interest rates. The finally imposed interest rates will be dependent on various aspects like the borrowing loan amount, loan type, loan tenure, borrower’s credit score, financial record, employment details, income, and other relevant factors. The borrowed loan amount will have to be paid back as per the scheduled repayment plan, as decided by the borrower & the financier.

Details of Mortgage Loans

Interest rates 11.55% to 20.05%
Processing fee It ranges from 1% - 3% and differs according to the banks
Loan Tenure 3 years – 10 years
Loan Amount ₹ 10 lakhs - ₹ 75 lakhs
Lock-in period It differs from the lender to lender
Pre-closure charges It differs from the lender to lender
Guarantor Required It depends on the different conditions

Privileges Of Choosing Mortgage Loans From Finfree

At Finfree Enterprises, you can easily apply and avail suitable mortgage loans from our wide range of options to overcome your monetary crisis. Our team ensures that you, as a borrower will not have to go through the complicated processing methods, and have the application approved quickly with prompt transfer of the mortgage loan funds. Here are a few benefits of choosing mortgage loans from us.

Loan Quantum Of Up To 75 Lakhs*

Unrestricted Preconditions For Usage

Secure & Safe Handling Of Documents

Manageable Repayment Options

Considerable Interest Rates of 9.5% - 12%

Quick Processing & Approvals

FAQ's

Both self employed and salaried people who is getting a regular income of 30,000 and above can apply for the loan.
You need to have >700 credit score in order to get the loan approved with the amount you want.
The interest rate charged by different lenders could range from 9.5% to 12%.
Yes, mortgage itself says that you will need to pledge an asset. The lender will approve the loan based on the value of the asset.