How to Open the Door to Your Desired Home with Mexmon Financial
Purchasing a house is generally considered as one of the largest investments made throughout a lifetime. For many, this dream comes true through the help of a mortgage loan in Jalandhar that helps attain the dream property through financing that is made in installments to match the property’s value. It is important for homebuyers to understand characteristics of mortgages, as well as requirements for their granting and repayment, to be successful in the often quite intricate sphere of housing finance.
Homeownership Made Possible
The biggest benefit of a mortgage loan in Jalandhar is that for people it opens the door to homeownership without any immediate payment of the lump sum. Most families need not worry about down payments for housing; they can apply for loans to cover the other part of the price tag of a house. Mexmon Financial is a leading mortgage loan company in Punjab, and with our services, you can make the first move to acquire your home.
Flexible Payment Terms
Mortgage can be defined as loans given to be paid gradually in portioned installments for many years, which are normally between 15 and 30 years. This flexibility allows flexibility in management of the finances thus making it easy for most people to make big monthly installments no matter the amount of funds that is readily available. Selecting a mortgage loan in Jalandhar proves useful when it comes to the payment pressure.
Tax Benefits
As a rule, the interest paid on mortgage loans in Jalandhar is tax-creditable, and this gives the homeowners considerable benefits. The ability of this feature can lead to reduced total costs of credit payments over the entire mortgage repayment period which makes mortgage better than renting. Leaving your precious tax refunds into the hands of a professional and professional mortgage loan company in Punjab is the key.
Building Equity
Every time you pay your mortgage, you pay a specific amount of which builds up your equity in the house every month. Equity is part of the property that you actually have an ownership interest over, it can be used to access any of the services like home renovation or to collate for other loans. This is one of the main reasons why mortgage loans in Jalandhar are a good business venture.
Fixed or Adjustable Rates
One advantage of mortgage loans is that the borrower can make his or her mortgage fixed-rate or adjustable-rate. More homeowners are choosing fixed rate mortgage constitutional and you can manage your payments and avoid fluctuating with an ARM which may offer lower initial rates. Always ensure that you consult when choosing a registered mortgage loan company in punjab.
Your EMI Amount is:
Here you can see your total payment and total interest in your loan.
Total Payment
₹ 172165Total Interest
₹ 72165
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Firstly, you confirm on interest rates, secondly you approximate on the basis of sixty months Equated Monthly Installment or EMI for short. It is very important to know how much you are willing to spend before applying for a mortgage loan in Jalandhar
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In assessing your qualification, you need to do it depending on the documents and the set of conditions presented to you by the lender. Make sure you have all documents needed for a hassle-free application with a top mortgage loan company in punjab.
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Just complete and submit the application form correctly along with all necessary documents. Therefore it is essential to complete all the requirements to avoid frustration in the approval process. Being one of the most trusted mortgage loan institutions in Punjab, we will accompany you in this process.
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Upon your recent application, one will notice that disbursal of funds will be quick. This means you are in a position to respond to needs that involve buying a home without delay, giving your family a home through a mortgage loan in Jalandhar .
To apply for a mortgage loan in Jalandhar, you’ll typically need the following documents:
Another major component of your borrowing cost at Mexmon Financial is the interest rate that we charge on the loan products. Here’s a brief overview of our rates and charges associated with a mortgage loan in Jalandhar:
| Interest Rate | Depending on the scheme, the monthly interest rate begins at 0.99% with an equivalent annual range of 11.88%-27%. |
|---|---|
| Processing Fee | As per scheme structure. |
| Penal Charges | 0.The contractor will be able to charge an interest of 5% on the amount of dues outstanding per month from the date of the occurrence of the event – 5% per month on outstanding amount plus GST. |
| MTM Charges[3]* | ₹500.00 |
| Stamp Duty and other statutory charges | As per applicable laws of the state |
| Auction Charges* | ₹1500.00 |
| Overdue Notice Charges* | ₹200 per Notice |
| SMS Charges* | ₹5.90 per Quarter |
| No Part-Payment or Pre-Closure Charges | We provide choices without supplements. |
| Part-Payment Charges | NIL |
| Pre-Closure Charges | NIL Minimum of 7 days interest will be charged if loan is closed within 7 days |
Welcome to the Journey of Homeownership
When it comes to mortgage loans in Jalandhar Mexmon Financial guarantees to help you successfully start this new chapter of your life. These make us the right choice for all your mortgages since we pride ourselves in customer satisfaction, customized services, and reasonable charges.
Please feel free to give us a call today and get to know how we can assist you to get your dream home through an efficient mortgage loan company in Punjab.
To qualify for a mortgage loan in Jalandhar with Mexmon Financial, you should meet the following criteria:
Age: Candidates should be within the age of 18 and 75 years.
Citizenship: Every candidate applying for a job through this portal must be a citizen of India if they are living in the country or if they are NRI.
Income: A fixed monthly salary, ranging between Rs 25,000/- and Rs 30,000/- pertaining to the profession is advisable.
Credit Score: It is understood that a good credit record is necessary and thus there is a minimum credit score of 700 that the applicant is supposed to possess
Employment: Salaried persons and others engaged in a business or profession which gives them a regular income can apply.
Property: The property to be purchased should be other than agricultural; it can be any of the residential, commercial or industrial nature to be provided as security for the loan.
