Overview of Mortgage Loan in Greater Faridabad
Mortgage loans in Greater Faridabad for 2025, also known as loans against property, allow you to leverage your residential or commercial property for funds. Loanpao connects you with top lenders like ICICI Bank, SBI, and Bajaj Finance, offering loans up to ₹25 crore at interest rates starting at 9% p.a. with tenures up to 15 years.
Eligibility Criteria for Mortgage Loan in Greater Faridabad
| Criteria | Details |
|---|---|
| Age | 25–65 years (salaried); 25–70 years (self-employed) |
| Income | Minimum ₹30,000/month (salaried); ₹6 lakh p.a. (self-employed) |
| Property Ownership | Clear title of residential/commercial property in Greater Faridabad |
| Credit Score | Minimum 700; higher scores improve terms |
| Residence | Resident or property located in Greater Faridabad |
Documents Required for Mortgage Loan in Greater Faridabad
- Identity Proof: Aadhaar, PAN Card, or Passport.
- Address Proof: Utility bill, Aadhaar, or rental agreement (Greater Faridabad address).
- Income Proof: Salary slips (last 3 months), ITR (last 2 years), or Form 16.
- Property Documents: Title deed, sale deed, property tax receipt, approved plan.
- Bank Statements: Last 6 months’ bank statements.
- Photograph: Recent passport-size photograph of the applicant.
Benefits of Mortgage Loan in Greater Faridabad
- Loan amounts up to ₹25 crore based on property value.
- Competitive interest rates starting at 9% p.a. in 2025.
- Flexible repayment tenures up to 15 years.
- Use funds for business expansion, education, or personal needs.
- Quick disbursal within 7–15 days post-approval.
Factors Affecting Mortgage Loan in Greater Faridabad
Interest Rate
Rates range from 9% to 12% p.a., based on credit score, property value, and loan amount.
Loan Amount
Up to 60–70% of property market value, depending on lender and property type.
Credit Score
A score above 700 ensures better rates; lower scores may increase rates or require additional collateral.
Property Valuation
Properties in prime Greater Faridabad sectors with clear titles fetch higher loan amounts.
How to Apply for a Mortgage Loan in Greater Faridabad
Follow these steps to apply for a mortgage loan in Greater Faridabad through Loanpao:
- Visit loanpao.in and select "Mortgage Loan in Greater Faridabad."
- Fill out the online application form with details (name, Greater Faridabad address, income).
- Upload required documents (Aadhaar, income proof, property papers).
- Compare offers from top Greater Faridabad lenders like ICICI Bank, SBI, and Bajaj Finance.
- Get approval and funds disbursed within 7–15 days in Greater Faridabad.
Loan Eligibility for Mortgage Loan in Greater Faridabad
Check your eligibility for a mortgage loan in Greater Faridabad with Loanpao’s tool:
- Enter income details (minimum ₹30,000/month for salaried).
- Provide credit score (preferably above 700).
- Specify property details (location, type, market value in Greater Faridabad).
- Include employment type and residency status.
Loanpao will assess your eligibility and suggest the best mortgage loan offers in Greater Faridabad.
Check Eligibility NowTrack Your Mortgage Loan Application in Greater Faridabad
Loanpao provides a seamless tracker for your mortgage loan application:
- Submit your application ID on the Loanpao Tracker page.
- Get real-time updates on status (e.g., under review, approved, disbursed).
- Receive notifications for disbursal updates in Greater Faridabad.
- Contact Loanpao support for assistance with delays in Greater Faridabad.
Mortgage Loan Comparison in Greater Faridabad
Compare mortgage loan offers from top lenders in Greater Faridabad:
| Lender | Interest Rate | Loan Amount | Tenure | Processing Fee |
|---|---|---|---|---|
| ICICI Bank | 9.00% p.a. | Up to ₹25 crore | Up to 15 years | 0.75% of loan amount |
| SBI | 9.25% p.a. | Up to ₹15 crore | Up to 12 years | 1% of loan amount |
| Bajaj Finance | 9.50% p.a. | Up to ₹10 crore | Up to 10 years | 1.5% of loan amount |
Frequently Asked Questions
The minimum property value is typically ₹50 lakh, but it varies by lender in Greater Faridabad.
Mortgage loans in Greater Faridabad are disbursed within 7–15 days after approval.
Yes, both residential and commercial properties with clear titles can be used.
A credit score above 700 is preferred, but loans may be approved with lower scores at higher rates.
Missing an EMI may incur penalties, impact your credit score, or lead to property foreclosure.