Mortgage Loan

A mortgage loan or mortgage is utilized either by buyers of genuine property to raise assets to purchase land or on the other hand by existing property proprietors to raise funds for any reason. Mortgage origination is the procedure by which the credit is secured by the borrower's property. In this type of loan, candidate should give a property or any security as a mortgage. Land or resources like gold, insurance, securities and many can be mortgage. Mortgage borrowers can be organizations mortgaging a business property like their own particular business premises, private property or a venture portfolio or they can be people mortgaging their home. Elements of mortgage loan like the measure of the advance, development of the credit, financing cost, technique for paying off the advance, and different attributes can change broadly. In return for funds gotten by the homebuyer to purchase property or a home, a lender gets the guarantee of that purchaser to pay back the assets inside a specific time span for a specific cost. The mortgage is lawfully authoritative and secures in giving the bank the privilege to have a lawful case against the borrower's home if the borrower defaults on the terms agreed. Essentially, the borrower has ownership of the property, yet the lender is the person who possesses it until the point that it is totally paid off.

Documents Required

  • 3 years IT return
  • Pan Card
  • 1 year bank statement – savings / current
  • Aadhar Card / Voter Id (Identity Proof)
  • 5 Photos
  • Light Bill
  • Agreement copy
  • Society maintenance bill
  • Share Certificate
  • 3 months salary slip
  • Form no. 16
  • Business Proof

EMI Calculator

Description Data Entry
Loan Amount
Loan Length in Months
Interest Rate
Monthly Payment Calculated

Terms and Conditions

  • Borrower will be instructed from the office after file processing
  • Borrower have to spend 10% agreement cost after loan Approval
  • Borrower should know that he/she will have to spend 10% Agreement cost after loan approval
  • Any other amount will not be deducted as a cheque of loan approval
  • Cheque of whole expense will be given to borrower immediately after agreement
  • Make D.D. or cheque of 10% of loan cost by name “Lotus Group (LOW MONEY ENTERPRISES)”, after loan approval

Return on investment

  • Interest rate will be from 8% to 18%
  • Interest rate will be decided after borrower’s file processing
  • Interest rate will be on yearly basis
  • Loan installment will be taken by RTGS
  • If you want to return loan before return period, then you have to pay 2% extra charges

Return Period – 5 years, 10 years, 15 years, 20 years

Loan Limit – 10 lacks to 50 lacks

Helpline No : 02025282018