A Housing Mortgage is a long-term loan provided by banks or financial institutions to individuals for purchasing, constructing, or renovating a residential property. In this arrangement, the property itself serves as collateral until the borrower repays the loan in full, along with the applicable interest. Housing mortgages are typically repaid in Equated Monthly Installments (EMIs) over a predetermined tenure, which can range from a few years up to several decades.
They offer individuals the opportunity to own a home without having to pay the entire amount upfront, making home ownership more affordable and accessible. Housing mortgages often come with flexible repayment options, tax benefits under income tax laws, and competitive interest rates depending on the borrower’s eligibility and market conditions.
| Foundation Type | RCC |
| Loan Category | Purchase / Construction / Renovation |
| Foundation Depth | Min 5 To 6 Feet Deep |
| Service Mode | Offline |
| Interest Rate Type | Fixed, Or Hybrid |
| Interest Rate Range | 8% – 12.5% (varies By Profile) |
| Credit Score Requirement | Typically 650+ |
| EMI Type | Standard EMI |
| Documentation Type | KYC, Income Proof, Or Property Papers |
| Location | Any Area |
| Prepayment Charges | Nil For Floating Rate; Fixed Depends On Lender |
| Repayment Duration Option | 10 To 15 Year |
| Assessment Method | Property Valuation + Income |
| Disbursement Mode | Full / Partial Stage-Linked |
| Payment Method | Online/Offline |
| Property Type Supported | Ready, Under-construction |
| Penalty Charges | Late EMI Fee As Per Lender Policy |
| Turnaround Time (TAT) | 3 – 15 Working Days |
| Market Segments | Retail Home Buyers, Salaried |
| Co-Applicant Facility | Allowed |
| Service Provider | Cash Chahiye Financial Services |
| Origin | India |
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