Types of Mortgage Loans – Benefits of Mortgage Loan – HDFC Sales

There are several kinds of mortgage loans. Let us take a look at some of them.

• Loan against Property (LAP)
• Commercial purchase loans
• Lease rental discounting
• Reverse mortgage

Eligibility for mortgage loans and required Documents

The eligibility criteria for mortgage loans vary for salaried and self-employed individuals:

Age of eligible borrower:

For Salaried – 24-60 Years
For Self Employed – 25-65 Years

Maximum loan tenure:

For Salaried – 15 years
For Self Employed – 15 years


Eligible monthly income:

For Salaried – 18,000
For Self Employed – 25,000


List of Documents Required

• For salaried individuals
• Residence Proof
• Identity Proof
• Financial Statement for 3 years (for Self-Employed)
• Past 6 months’ Salary Slip (for Salaried)
• Past 6 months Bank Details
• Property Documents against Loan


Benefits of Mortgage Loans

• It’s the simplest way to avail a Home Loan.
• It’s applicable for a variety of properties.
• It is cost-effective and can be paid in EMIs.
• It has longer repayment period.
• It has a variety of interest rates to choose from.


For more details on mortgage loans, contact us at 1800 266 3345, or visit https://www.hdfcsales.com/non-housing-loan