Interest Rate
Mortgage loan Interest rates start at about 8.15% depending on several factors, such as the type of mortgage, loan term, and individual financial circumstances. Individuals with good credit history are likely to get mortgage loan at lower interest rates.
| Mortgage Loan Interest Rate |
Banks |
NBFCs |
Private |
| ROI (Monthly Reducing) |
8.15 - 11.80 % |
10.99 - 36.0 % |
15.0 - 20.0 % |
How to apply for a Mortgage Loan @Livanity:
1. Mortgage Loan Application form:
The customer needs to fill in the Loan Application form which includes your occupation, Loan Against Property type, personal, residential and financial details. our representative will get in touch with you.
2. Documentation:
Once you fill the loan application form, you will have to submit all the necessary documents to them, by opting for the doorstep document pick-up service.
3. Processing and Verification:
After submission of the application form along with the required documents, the bank starts processing the Mortgage Loan application. The bank will verify all the documents provided by you.
If all your documents are in order and you have a satisfactory credit score and report, the bank will proceed with your loan application.
4. Underwriting:
The underwriter is the key decision-maker for approval of mortgage loan. They closely evaluate all the documentation prepared by the loan processor.
5. Closing:
Loan documents are printed out and sent to the title company. You can expect a big stack of papers.
6. Legal and Technical Check:
Before the disburses the loan amount, bank will conduct legal and technical checks. The bank representatives will verify the property for which mortgage loan is applied.
6. Loan Disbursal:
Once the legal and technical checks are completed and bank is satisfied with the checks conducted, loan application will be approved and client will receive a final agreement letter.
It is important that you check whether you meet the required mortgage Loan eligibility criteria before applying for the loan. You can seek professional guidance here to make a more informed decision and Livanity Financial Services will help you to make your decision much easier.
Mortgage Loan Eligibility
Mortgage loans are provided by most of the banks/ NBFCs but with different eligibility requirements. However, there are certain criteria that are common for all financial institutions. The eligibility criteria for salaried and self-employed individuals are:
| Age |
18 years - 75 years |
| Employment Type |
Salaried/ Self-Employed professionals |
| Credit score |
Minimum 700 |
| Minimum Net Income (Monthly) |
Monthly income of Rs 25,000 to Rs 40,000 |
| Loan Amount |
Up to 65% of the value of your property |
| Work Experience |
minimum 2 years |
Example that represent the EMI against Loan amount
For Rs 11 lakh mortgage loan at 10.50% rate of interest per annum, the EMI for,
- 5-year loan tenure is Rs 23,643,
- 10-year tenure is Rs 14,843,
- 15-year tenure is 12,159.
*Disclaimer: These are approximate EMI calculations; actual numbers may vary.
Mortgage Loan EMI Calculator
Calculate an EMI and check whether it fits in your monthly budget or not. A loan calculator helps you get the following results:
- Monthly Repayments - EMI you will be paying every month
- Total interest payable - Total interest on your loan
- Total amount to pay - The total amount which is a sum of principal and interest
Mortgage Loan Details
| Interest Rates |
8.15% - 11.80% |
| Processing Fee |
Differs from bank to bank; generally ranges between 0.5-3.54% of the loan amount |
| Loan Tenure |
up to 15 years |
| Loan Amount |
up to 60% of the registered value of the property |
| Lock-in period |
Varies from lender to lender |
| Pre-closure Charges |
4% on the principal outstanding for fixed rate loans/during fixed interest rate period for semi-fixed rate loans; Nill for floating rate loans |
| Guarantor Required |
Varies on different conditions |
Why choose Livanity for Mortgage Loan?
Livanity is a one-stop solution for all your financial needs. Here, we try to provide you best services that are hassle-free and quick in nature. For mortgage loans, we provide you a comparative analysis of what different banks are offering. We also assist you in your final decision.
Here are a few reasons for you to apply for a mortgage loan at Livanity:
Fast assistance: At Livanity, you can contact us at any official working hours of the day.
Customer needs in forefront: Your needs are our priority. We promise to deliver you with services that are best on our capabilities.
Compare Offers Online:
With more than 100 lenders as partners, you can compare the different offers of financial institutions to make the right decision. In fact, we help you find the best lender as per your eligibility requirements. There is a personalized relationship lender for every customer who helps him/her select the bank of his/her choice.
Real-time customer support:
Our customer support team is fast and efficient to clear all your doubts regarding mortgage loan eligibility, procedures, offers, documentation and repayment options. We even contact with the respective lender on behalf of you.
