Mortgage Loan options available for borrowers

Mortgage Loan options available for borrowers

At some point in one’s life, there will always be additional financial requirement. At such a stage, one will need to consider the different options that are available to ensure that one gets the required funds without any inconvenience. Out of all the options that available, one can consider mortgage loans.

This loan will provide exceptional rates, while offering you plenty of other benefits. One only needs to mortgage a collateral, wherein one would get the required funds in terms of the value of the collateral. In this loan, the applicant will retain the ownership of the collateral, till the borrowed funds are repaid. Here are some of the different mortgage loan options available:

Loan against Property:

If one has idle property that is not in use, this would make for a beneficial investment. One can easily mortgage this property and use to acquire the required funds. Depending on the type of property, one can get exceptional mortgage loan rates. The types of property one can mortgage include residential property or residential plot. One can also mortgage commercial property or plot. As compared to the residential property or plot, the commercial property or plot will offer one better mortgage loan interest rates. Through this type of loan, one can get anywhere between 15 Lacs up to 10 Crore as the loan amount.

Purchase of commercial property:

When purchasing any commercial property, one can also opt for mortgage loans to make this purchase. In this form of loan, the commercial property that one would purchase will be mortgaged. The commercial property mortgage loan can be used to purchase ready or under construction commercial property. Individuals such as salaried, self-employed professionals and self-employed non-professionals can get excellent mortgage loan interest rates if they have the required financial profile. Through this loan mortgage, one can easily get a value of 15 lakhs to 10 crores, which is one of the best mortgage loan rates in the market.

Lease rental discounting:

Many individuals are now purchasing property in order to get an income in the form of rental property. Through the lease rental discounting mortgage loan, one can encash the current rental cash flow and avail long term loan facilities. One of the main benefits of this loan is that, the tenure can last on the existing lease agreement terms. One can also get a loan amount of 15 Lacs up to 10 crore depending on one’s financial profile. This form of loan mortgage is best for individuals who want to invest in any business expansion, business capital requirements or consolidating obligations. Salaried, self-employed professionals and self-employed non-professionals can opt for this loan.

Mayur Sheitty is an experienced writer concerning the finance industry. His articles help in informing readers of the different types of home loan products such as Mortgage Loan rates Home improvement / renovation loan, loan against property interest rates.