Unlock the Value of Your Property
A mortgage loan, also known as a loan against property, helps you access funds by leveraging your residential or commercial property. Whether you need money for business expansion, education, medical expenses, or personal needs, our mortgage solutions offer flexible financing with competitive interest rates and easy processing.
Why Choose Mortgage Loan ?
Our mortgage loan solutions allow you to convert your property into a financial asset without losing ownership. With simple documentation, attractive rates, and flexible repayment options, we ensure a smooth borrowing experience tailored to your needs.
- Loan amount up to ₹3 Crores
- Attractive interest rates
- Flexible repayment tenure up to 20 years
- Minimal documentation process
- Quick approval support
- Funds for multiple purposes
Mortgage Loan Features & Benefits
High Loan Amount
Get up to 70% of your property value as loan amount, with maximum limits up to ₹3 Crores based on property valuation.
Flexible Usage
Use the loan amount for any legitimate purpose including business needs, education, medical expenses, or debt consolidation.
Tax Benefits
Avail tax benefits on interest repayments if the loan is used for business purposes or for purchasing/constructing property.
Lower Interest Rates
Enjoy competitive interest rates starting from 8.75%, significantly lower than personal loans due to collateral security.
Long Tenure
Repay your loan over an extended period of up to 20 years, making EMIs more affordable and manageable.
Balance Transfer
Transfer your existing mortgage loan to get better interest rates, lower EMIs, or additional top-up loan amount.
Residential Properties
- Independent Houses:Fully constructed independent homes
- Apartments/Flats: In approved/registered housing societies
- Villas: In gated communities or independent plots
- Residential Plots: With proper approvals and clear titles
- Builder Floor: Independent floors in low-rise buildings
- Residential Complexes: Complete buildings with multiple units
Commercial Properties
- Office Spaces: Independent offices or units in commercial buildings
- Retail Shops: In malls, commercial complexes, or standalone
- Industrial Properties: Factories, warehouses, or manufacturing units
- Commercial Land: With proper approvals for commercial use
- Mixed-Use Properties: Buildings with both residential and commercial use
- Hotels/Guest Houses: With necessary permits and licenses
Required Documents
Identity & Address Proof
- Aadhaar Card
- PAN Card ((mandatory))
- Passport
- Voter ID Card
- Driving License
- Utility bills (electricity, water, gas) for address proof
Income Documents (Salaried)
- Last 3 months' salary slips
- Form 16 or Income Tax Returns (ITR) for last 2 years
- Last 6 months' bank statements showing salary credits
- Employment letter or job appointment letter
- Employee ID card
Property Documents
- Original property ownership documents (title deed)
- Chain of property documents (previous sale deeds)
- Property tax receipts (last 3 years)
- Approved building plan/layout
- NOC from society/builder (if applicable)
- Possession certificate
Other Documents
- Photographs (passport size) - 2 to 4 copies
- Loan application form duly filled and signed
- Processing fee cheque
- Existing loan statements (if any)
- Marriage certificate (if applicable)
- Statement of purpose for loan (for business use)
Mortgage Loan Specifications
Loan Amount
₹5 Lakhs - ₹3 Crores
- Loan to Value Ratio: Up to 70% of property value
- Property Type Based: Varying limits for different properties
- Minimum loan: ₹5 Lakhs
- Higher amounts for commercial properties
- Top-up loans available for existing customers
- Loan amount determined by property valuation
- Higher limits for premium properties in prime locations
Interest Rates
8.75% - 12.50%
- For Salaried: 8.75% - 11.25%
- For Self-employed: 9.25% - 12.50% Fixed & floating rate options
- Special rates for premium properties
- Lower rates compared to unsecured loans
- Women borrowers get additional rate benefits
- Competitive rates from multiple banks
- Special offers during promotional periods
Repayment Terms
Up to 20 Years
- Salaried: Up to 20 years
- Self-employed: Up to 15 years Flexible EMI options
- Step-up & step-down EMI plans
- Partial prepayment allowed
- Foreclosure options available
- Minimal prepayment charges
- Monthly, quarterly, or semi-annual payment modes
Frequently Asked Questions
What is a mortgage loan or loan against property?
A mortgage loan, also known as a loan against property (LAP), is a secured loan where you pledge your residential, commercial, or industrial property as collateral to borrow funds. The property remains in your possession and can be used normally, while the lender holds the property documents as security until the loan is fully repaid.
How much loan amount can I get against my property?
Typically, you can get up to 70% of your property’s market value as a loan amount. The exact percentage depends on factors like property type, location, age, condition, your credit score, income, and repayment capacity. Commercial properties may have different LTV (Loan to Value) ratios compared to residential properties.
What can I use the mortgage loan for?
Mortgage loans offer flexibility in usage. You can use the funds for business expansion, education expenses, medical treatments, debt consolidation, home renovation, child’s marriage, vacation, or any other legitimate purpose. Unlike home loans which must be used specifically for property purchase or construction, mortgage loans can be used for various needs.
What is the difference between a home loan and a mortgage loan?
The primary difference lies in the purpose and property ownership. A home loan is specifically used to purchase, construct, or renovate a property. The property is yet to be fully owned by you, and you’re essentially acquiring it. In contrast, a mortgage loan is taken against a property you already own, and the funds can be used for any legitimate purpose, offering greater flexibility.
Can I still live in or use my property after taking a mortgage loan?
Yes, absolutely. One of the primary advantages of a mortgage loan is that you retain possession and usage rights of your property. You can continue to live in your home or operate your business from the premises. The lender only holds the property documents as security and doesn’t interfere with your usage of the property unless there’s a default in loan repayment.
Are there any prepayment charges for mortgage loans?
Most banks charge prepayment penalties for mortgage loans, especially if they have a fixed interest rate. These charges typically range from 2% to 5% of the prepaid amount. However, many lenders allow partial prepayments up to a certain percentage of the principal amount each year without penalties. At Throne Ventures we can help you find lenders with minimal or zero prepayment charges.