Overview of Mortgage Loan in Sonipat

Mortgage loans in Sonipat leverage property as collateral for personal or business needs, ideal for industrial growth areas.

Eligibility Criteria

Criteria Details
Applicant Type Individuals or businesses
Age 21–65 years
Income ₹3 lakh p.a. minimum
Credit Score 700+
Property Type Residential or commercial
LTV Up to 70% of property value

Documents Required

  • Identity Proof: Aadhaar, PAN Card
  • Address Proof: Utility bill, Aadhaar
  • Income Proof: ITR (2 years), salary slips
  • Property Documents: Title deed, valuation report
  • Bank Statements: Last 6 months

Benefits of Mortgage Loan in Sonipat

  • Competitive rates starting at 9% p.a.
  • Loans up to ₹1.5 crore for personal or business needs
  • Flexible tenures up to 20 years
  • Quick processing within 15–30 days
  • Use property as collateral for funds

Compare Mortgage Loan Lenders in Sonipat

Lender Interest Rate Loan Amount Tenure Processing Fee
ICICI Bank 9% p.a. Up to ₹1.5 crore 20 years 0.5%
SBI 9.25% p.a. Up to ₹1 crore 15 years 0.4%
Axis Bank 9.5% p.a. Up to ₹75 lakh 15 years 0.6%

Frequently Asked Questions

What is a mortgage loan in Sonipat used for?

It can be used for personal needs, business expansion, or debt consolidation using property as collateral.

What properties are eligible for a mortgage loan in Sonipat?

Residential or commercial properties with clear titles are eligible.

How long is the approval process for a mortgage loan?

Typically 15–30 days, depending on property valuation and documentation.

What is the maximum LTV for a mortgage loan?

Up to 70% of the property’s market value.

Can I prepay my mortgage loan?

Yes, with minimal or no prepayment charges, depending on the lender.

What happens if I default on a mortgage loan?

The lender may seize the property after legal proceedings, per RBI guidelines.

Promotional Offers for 2025

  • Interest rates starting at 9% p.a. for mortgage loans in Sonipat
  • Low processing fees until 31st May 2025
  • Free property valuation check via Loanpao
Apply Now

Related Pages

Sector 14 Sonipat

Sector 15 Sonipat

Model Town Sonipat

Kundli Sonipat

Ashok Vihar Sonipat

Dev Nagar Sonipat

Civil Lines Sonipat

Vikas Nagar Sonipat

Krishna Nagar Sonipat

Adarsh Nagar Sonipat

Patel Nagar Sonipat

Shanti Nagar Sonipat

Ram Nagar Sonipat

Laxmi Vihar Sonipat

Anand Vihar Sonipat

Saraswati Enclave Sonipat

Balaji Nagar Sonipat

Green Valley Sonipat

Surya Vihar Sonipat

Shivaji Park Sonipat

Friends Colony Sonipat

Bhagat Singh Nagar Sonipat

Sonipat City Center Sonipat

Jai Hind Colony Sonipat

Indira Colony Sonipat

Shiv Colony Sonipat

Subhash Nagar Sonipat

Housing Board Colony Sonipat

New Colony Sonipat

Balwant Colony Sonipat