A Home Loan in Jalandhar is an important financial instrument which helps people to buy their own houses. They are offered by various banks and other financial institutions, augmenting your budget by availing a fixed sum for your home purchase. In the case of a Home Loan, the necessary compliance is required from the customer, and repayment is done through an installment method on a monthly basis for the required tenure, with a rational interest rate applied. At Mexmon Financials, we appreciate the essence of homeownership, and our Home Loan consultants in Punjab are always willing to help you through the entire home loan process. We 1also offer a wide range of Low EMI Loans in Jalandhar to meet your financial needs efficiently.
Tax Benefits
Home Loans provide wonderful opportunities in terms of tax benefits on interest and even the loan amount. Additional, under Section 80C, allow deduction for upto INR 1.5 lakh on acquisition of houses or on the repayment of the amount borrowed for acquiring or constructing a house, further, allow deduction for upto INR 2 lakh for interest payable on the house property under Section 24B. Other tax incentives may also be in place to help reduce expenses even further, for the homeowner.
Competitive Interest Rates
In terms of interest rates, Home Loans from us are cheaper compared to most of the other financing arrangements. Moreover, in case of financial problems, you are allowed to apply for a Top-Up Loan to meet your demands.
Property Evaluation
Our Home Loan consultants in Punjab also cover the above precautions your risk of being scammed when invest on a property or ensure that the property documentation is legal and genuine.
EMI Flexibility
Home Loans offer convenient Equated Monthly Installments (EMI)tenures to fit into your budget and cash flow.
Long Tenure
As we absorb longer tenure of up to 25 years of the loans, then the installment is easy to afford with less pressure on the finances.
Appreciation Potential
Home properties acquired under Home Loan can appreciate over time improving the value of the investment and your total asset base.
Easy Access
Home Loans are easily availed from banks and other financial institutions that allow you to ensure that you get your dream home.
Home Improvement
Financing: Not only can our loans be used for home purchase, they can also be used for home improvements and additions to MAKE YOUR house the best it can be for living or work place.
Your EMI Amount is:
Here you can see your total payment and total interest in your loan.
Total Payment
₹ 172165Total Interest
₹ 72165It will be helpful to begin by reconsidering the interest rates because next, you will have to estimate your monthly EMI.
As you plan in implementing the programs you need to evaluate the eligibility criteria and documents needed to increase chances of a successful application.
Go to apply for Home Loan with us.
Take less time to be granted a loan to enable you to pay for your new home as soon as possible.
Document Required for Mexmon Loan
License/ Registered Rent Agreement/ Electricity Bill (up to 3 months old)
Passport
Appointment Letter (if current employment is less than 1 year old)
Form 16 for the past two years
3-month salary slip
6-month bank statement
Passport/ Driving License/ Voter ID/ PAN
When considering a Home Loan in Jalandhar, it's essential to understand the various rates and charges involved:
Interest Rate | only float starting from 9.20% per annum to 11.05% per annum. |
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Processing Fee | Rs. 2500 Rs to Rs. 7500 + GST. |
Flexible repayment tenures | Up to 25 years. |
Financing Options | Up to 90% of the total property cost. |
Pre-Payment Charges |
Nothing in anticipation of flexibility in the mode of reimbursement. |
Checking the Standings of Home Loans Available for The Public at Mexmon Financials
Start Your Journey Today!
This is why if you want a Home Loan in Jalandhar, Mexmon Financials is here to help you with Home Loan consultation in Punjab by our experienced *Home Loan consultants. In this regard, we express our determination to help you achieve homeownership through personalized services and assistance. Give us a call today to find out more about our services and begin the journey toward buying the perfect home for you!
To qualify for a Home Loan, you should meet the following criteria:
Age: The applicant must normally be of 18 to 65 years.
Income: This is because a stable income stream is a good determinant of repayment ability in future.
Employment: Salaried persons also, should have a minimum work experience of 2 to 3 years group the self-employed persons must evidence business stability.
Credit Score: In case you would like to borrow money, it is good to have a good credit score since it tells about credit worthiness.
Property Appraisal: The property must be valued before selling it in order to meet the lender's requirement of being a security.
Loan-to-Value Ratio: Normally, such lenders offer credit at about 80%-90% of the market value of the property leaving the borrower to pay the balance.
Debt-to-Income Ratio:There is what you call total debt-service ratio, meaning that your debt, including the home loan, should not reach a certain percentage of your income
Property: These should have clear titles and compliance should be evidenced by conformity with the lender’s valuation standards.
Co-applicants: Use of a co-applicant who has stable income is beneficial to your loan application.
Documentation: Documents required for identity proof, address proof, income proof and many more
A home loan, also known as a mortgage, is a loan provided by a financial institution to help individuals purchase a home. The loan is secured by the property being purchased.
Home loans work by allowing borrowers to borrow a sum of money from a lender to purchase a home. The borrower then repays the loan amount plus interest over a specified period, usually through monthly payments.
Eligibility criteria for home loans typically include factors such as credit score, income, employment history, debt-to-income ratio, and the property's value.
The amount you can borrow with a home loan depends on various factors, including your income, creditworthiness, and the value of the property being purchased. Lenders typically offer loans up to a certain percentage of the property's value, known as the loan-to-value ratio.
Yes. All the projects by Mexmon Financials are approved by all leading banks and financial institutions.
You can avail a maximum loan of 80% of the agreement value. However, your loan amount may differ as per your income eligibility as appraised by the Finance Company. All loans are at sole discretion of the Finance Company.
Financial institutions usually offer loans for a term of 10-25 years.
Basic documents: Completely filled application form with photograph Photo-identity proof Residence address proof Signature verification proof Age proof Fee cheque For salaried applicants: Salary slip of past 3 months Form no. 16 Repayment track record of existing loans or loan closure letter Bank statement for past 6 months from salary account For self-employed applicants: A brief introduction of your business/profession Photo-identity proof, residence address proof, signature verification statement for all chief business partners/directors Repayment track record of existing loans or loan closure letter Board resolution in case of a company Proof of existence of the company Office address proof Income Tax Return / Computation of Total Income / Auditor’s Report / Balance Sheet / Profit & Loss Account certified by Chartered Accountant for past 2 years (business and personal accounts of partners/directors)