Secure Your Property Goals with Trusted Mortgage Solutions
From dream homes to investment properties, Shubhdhanam offers reliable mortgage loans with easy processing, competitive rates, and personalized support every step of the way.
Mortgage Loan Overview
A mortgage loan is a type of secured loan that allows individuals to purchase or construct residential or commercial properties by pledging the property itself as collateral. This form of financing is a long-term commitment, typically repaid in monthly installments over a period ranging from 5 to 30 years. Lenders offer mortgage loans based on various factors including the applicant's income, credit history, repayment capacity, and the value of the property being financed.
Mortgage loans are generally available in different types — such as home purchase loans, home construction loans, loan against property, and balance transfer options. Each category is tailored to suit specific needs, whether it's buying a new house, constructing one, or unlocking the value of an existing property. Shubhdhanam offers flexible mortgage loan options with competitive interest rates, easy documentation, and personalized assistance to help customers choose the best plan for their needs.
The repayment structure of mortgage loans is primarily based on EMIs (Equated Monthly Installments), which include both principal and interest components. Many lenders provide the option of fixed or floating interest rates, allowing borrowers to select a plan that aligns with their financial planning. Additionally, prepayment or foreclosure of the loan is often permitted, giving borrowers the freedom to reduce interest burden over time.
At Shubhdhanam, we understand the importance of property investment in one's financial journey. Our mortgage loan solutions are designed not just to fund your dreams but to support them with transparency, trust, and timely guidance. Whether you're a salaried professional, self-employed individual, or business owner, we're here to assist you through every step of your mortgage loan journey.
Features & Benefits of Mortgage Loan
Secured Funding Against Property
Use your residential or commercial property as security to avail higher loan amounts with confidence and ease.
Flexible Repayment Tenure
Enjoy the convenience of long repayment periods that suit your income flow, making EMIs more manageable.
Competitive Interest Rates
Benefit from attractive interest rates that make borrowing more affordable and sustainable over time.
Customizable Loan Options
Choose from a variety of mortgage loan plans tailored to your specific needs, whether personal or professional.
Minimal Documentation
Experience a hassle-free process with straightforward documentation, reducing delays and saving your time.
Digital Assistance & Transparency
Track your loan process digitally with full transparency — backed by QR-based support and reliable updates.
Mortgage Loan Eligibility Criteria
At Shubhdhanam, we aim to make mortgage loans accessible while ensuring financial responsibility. To qualify for a mortgage loan, applicants must meet the below list of eligibility criteria:
- Age — Applicant must be between 21 to 65 years at the time of application.
- Employment Status — Open to salaried individuals or self-employed applicants. Must have a stable income source.
- Credit Score — Minimum CIBIL score of 650 or above is required.
- Loan Amount — Loan amount ranges from ₹3 Lakhs to ₹5 Crores, based on eligibility.
- Rate of Interest — Competitive interest rates from 12.00% to 15.00% per annum.
- Loan Tenure — Repayment tenure flexible from 12 to 180 months (1 to 15 years).
- Disbursement Time — Loan disbursal generally within 5 to 15 days after approval.
Documents Requirement for Mortgage Loan
Salaried Individual
- ID Proof: Pancard / Aadhar Card / Voter Id / DL / Passport (Any one)
- Residence: Aadhar Card (Self/Spouse/Parents) / Voter Id (Self/Spouse/Parents) / Passport / Ownership Light Bill (Latest 3 Month) / 6 Month Old Rent Agreement (if Notary then Light Bill required, if Registered then not required) or 6 Month Old Saving Account or Latest Gas Receipt (Latest 3 Month). (Any One)
- Banking: 6 Month Salary Account Statement
- Salary Slip: 3 Month Salary Slip or Salary Certificate
- Property Documents: Sale Deed, Chain Agreement.
Self-Employed
- ID Proof: Pancard / Aadhar Card / Voter Id / DL / Passport (Any One)
- Residence: Aadhar Card (Self/Spouse/Parents) / Voter Id (Self/Spouse/Parents) / Passport / Ownership Light Bill (Latest 3 Month) / 6 Month Old Rent Agreement (if Notary then Light Bill required, if Registered then not required) or 6 Month Old Saving Account or Latest Gas Receipt (Latest 3 Month). (Any One)
- Office Add. Proof: 6 Month Old Rent Agreement / Udyam Aadhar / Ownership Light Bill (Any One)
- Banking: Saving / Current / OD / CC (Any One), Statement Required Of 1 Year.
- Business Vintage Proof: 2-3 Yr Old Gumasta / 2-3 Yr Old Udyam Aadhar (Registration Date Year Is Mandatory) / 2-3 Yr Old Current Account / 2-3 Yr Old ITR With Complete Set / 2-3 Yr GST Certificate If Available (Any One)
- Income Documents: 2 Yr Latest Year ITR With Complete Set.
- Property Documents: Sale Deed, Chain Agreement.
Fees and Charges for Mortgage Loan
At Shubhdhanam, we believe in maintaining complete transparency when it comes to fees and charges associated with mortgage loans. The below list outlines the typical costs you may incur during the loan process:
- Processing Fee: A one-time processing fee of up to 1% of the loan amount (plus applicable GST) is charged to cover administrative and verification costs.
- Legal and Technical Charges: These charges are collected for property valuation, title verification, and technical inspection. They may vary depending on the property type and loan amount.
- Documentation Charges: Minimal charges may apply for preparing and notarizing the loan agreement, mortgage deed, and other legal documents.
- Prepayment/Foreclosure Charges: For floating rate loans, no foreclosure charges for individuals. For fixed rate loans, charges may range from 2% to 4% of the outstanding principal, depending on the lender's policy.
- Late Payment Charges: A penalty of 2% to 3% per month on the overdue EMI amount is applicable in case of delayed payments.
- Conversion Charges (if applicable): If the borrower chooses to switch from fixed to floating interest rates or vice versa, a nominal fee is applicable.
How Mortgage Loan is Calculated
Understanding how a mortgage loan is calculated is essential for smart financial planning. At Shubhdhanam, we follow a transparent calculation method that helps borrowers estimate their monthly outflow and total repayment obligation. The key components involved in mortgage loan calculation are explained below:
Loan Amount: The total amount borrowed against the property. It usually depends on the property's market value and the applicant's eligibility. Most lenders offer up to 60%–75% of the property's value as the loan amount.
Interest Rate: The mortgage loan can have either a fixed or floating interest rate. The interest rate directly affects the EMI (Equated Monthly Installment) and total repayment amount over the loan tenure.
Loan Tenure: The repayment period typically ranges from 12 to 180 months. A longer tenure results in lower EMIs but higher overall interest, while a shorter tenure reduces total interest but increases monthly payments.
Additional Charges: While not directly part of the EMI, charges like processing fees, insurance, and taxes may affect your total cost. These should be factored into your overall loan planning.
EMI = [P × R × (1 + R)^N] / [(1 + R)^N − 1] where P = Loan Amount, R = Monthly Interest Rate (Annual rate ÷ 12 ÷ 100), N = Number of monthly installments (Tenure in months)
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FAQs
A mortgage loan is a secured loan where you pledge your residential or commercial property as collateral to borrow money. The loan amount is repaid in EMIs over a fixed tenure, and the lender retains the rights to the property until the loan is fully repaid.