MORTGAGE LOAN SCHEME(NETWORTH)
• Purpose
• Eligibility
• Quantum of loan
• Margin
• IIR
• Interest rate
• Repayment period of loan
• Security for the loan
• Front End Fee
PURPOSE
For meeting any genuine needs and purposes acceptable to Can Fin Homes, against the security of equitable mortgage of property (land and building)
ELIGIBILITY
Individuals who are salaried persons / professionals / businessmen, who have adequate repaying capacity supported by proof of income in the form of salary certificate for 6 months / Income Tax Returns for the last two financial years etc. will be eligible to apply for a loan under the scheme.
QUANTUM OF LOAN
The minimum amount of loan under the scheme is Rs.2 lakhs and the maximum amount of loan is Rs.25 lakhs, subject to the applicant's repaying capacity, margin stipulation, IIR etc.
MARGIN
The margin for the loan will be not less than 50% of market value of the security as per the valuation report given by the company's Panel Valuer of the companty
INSTALMENT-INCOME RATIO (IIR)
The maximum permissible IIR under the scheme is 40%.
INTEREST RATE
Interest rate Prevailing from time to time on monthly diminishing balance basis will be applicable.
Click here for latest Interest rates
REPAYMENT PERIOD OF THE LOAN
Within a maximum period of 10 years by way of Equated Monthly Installments.
SECURITY FOR THE LOAN
- Equitable mortgage of the property to be financed.
- Third party guarantee of person/s of adequate networth acceptable to the company. Third party guarantee may be waived selectively, purely based on merits by the sanctioning authority.
- Additional security, where found required.
FRONT-END FEE
Click here for front-end fee details
|
Home
