Get Flexible Tenor With Mortgage Loan

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Check For Your Mortgage Loan Process
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Essential Facts About Mortgage Loans

• High loan value Based on the current market
  value of the mortgaged property, applicants can
  avail as much as up to 80 of the sum as a loan
  amount. The substantial loan value helps to meet
  financial requirements effectively. Also, its use
  can vary as per the loan type.
• Flexible tenor Mortgage Loan comes with a tenor
  of up to 20 years or more and flexible repayment
  options. However, borrowers must analyse the
  impact of tenor on their EMI before selecting a
  particular tenor. For instance, a longer tenor
  accompanies a lower EMI amount and vice versa.

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Essential Facts About Mortgage Loans

• Quick disbursal Generally, financial
  institutions follow a simple documentation
  process. It facilitates verification and loan
  approval significantly, and accelerates the loan
  disbursal process.
• Interest rate Unlike unsecured loans, the
  mortgage loan interest rates are comparatively
  low, making it easy to repay.
• Balance transfer and top-up facility The
  balance transfer feature helps to lower the
  mortgage loan interest rates, while top-up loans
  help borrowers to avail additional funds to meet
  their diverse funding requirements.

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Factors Influencing Mortgage Loan Rates

• CIBIL score - A strong credit score and credit
  report, i.e., devoid of default or delay in
  payment, tend to have a favorable effect on the
  loans interest rates.
• Borrower profile - Typically, a borrower profile
  can have a considerable impact on the mortgage
  loan interest rates extended by a lender.
• Type of interest - Usually, financial
  institutions levy two types of interest rate on
  borrowed loan value, namely fixed interest
  rate, floating interest rate.
• Property location - Mortgage loan interest rates
  also depend on the location of the property
  mortgaged. In most cases, properties located in
  cities and prime locations fetch a lower rate of
  interest.

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Conclusion

• Hence, factors like credit score and credit
  report, type of interest, borrower profile,
  tenor, and location help to determine the
  mortgage interest rates. Also, to make the most
  of this loan, individuals should look for the
  potency of its features and associated benefits.

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THANKS

• Visit https//www.bajajfinserv.in/mortgage-loan
  for more brief information