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Mortgage Loans
NM Associates offers home loans, also known as mortgage loans, tailored to the needs of individuals and professionals in Coimbatore. With adjustable or fixed interest rates and extended repayment tenures, these loans facilitate home purchases and other housing needs like renovations or extensions. NM Associates provides comprehensive assistance, including legal and technical counseling, guiding customers through the home buying process. They advise maintaining a good credit score and stable income for easy approval, emphasizing the importance of starting the process early. In summary, NM Associates' home loans provide flexible solutions and expert support, enabling individuals to achieve their homeownership dreams effortlessly.
Key Features:
- Term dates typically range from 5 to 30 years, with some lenders offering up to 50-year terms.
- Interest rates can be fixed or variable.
- Monthly repayments vary depending on the loan amount, term, and interest rate.
- Mortgage Loans Calculator helps determine monthly payments.
- Market conditions influence interest rates, with banks offering both low and high rates.
- Refinancing allows borrowers to negotiate lower interest rates if market rates drop.
Documentation Required for Salaried Customers:
- Identification Proof & Address Proof.
- Proof of Date of Birth & Signature.
- Recent Passport-size Photograph.
- Pay-slips for the last 3 months and Form 16 for the last 2 years.
- Proof of Job Stability for 2 years if currently employed for more than 1 year; otherwise, proof for 3 years.
- Bank Statements from the Salary Account for the last 6 months.
- Relationship Proof if a Co-Applicant is involved.
- Details of existing loans along with Bank Statements showing EMI payments.
- Appointment Letter and Relieving Letter from both the current and previous companies.
- Relevant documents regarding the mother's identity.
- Land Documents derived from the Parent Document.
- Encumbrance Certificate (EC) from 1987 to the present.
- Building Approval Plan/Layout Approval documents.
- Property Tax Receipt from the Date of Purchase.
- Latest Water Receipt.
- Latest Electricity Bill (EB) Receipt
Documentation Required for Self-Employed Customers:
- Business profile on company letterhead.
- Valid ID Proof & Address proof.
- Proof of Date of Birth & Signature.
- Recent Passport size Photograph.
- Registration certificate / VAT Certificate / Shop establishment certificate.
- Last 3 years ITR along with Profit & Loss statement, Balance sheet, and Audited financials.
- Evidence of business stability for the last 3 years.
- Bank statements for the last 6 months from the Salary Account.
- Relationship Proof if a Co-Applicant is involved.
- Details of existing loans with Bank Statements showing EMIs.
- Initial Processing Fee Cheque payable to [Service Charges], with the balance due at disbursement.
- For Stakeholding Directors: List of Directors, Latest Shareholding pattern, Copy of MOA & AOA, Certificate of incorporation, Financials of the company.
- For Partners: Registered partnership deed copy, Letter of Authority signed by all partners, Financials of the farm.
- Relevant documents regarding property ownership.
- EC (Encumbrance Certificate) from 1987 to the present.
- Building approval plan/Layout approval documents.
- Property tax receipt from the date of purchase.
- Latest Water Receipt.
- Latest EB (Electricity Bill) receipt.
Benefits of Mortgage Loans:
- Mortgage loans enable individuals and businesses to make large real estate purchases without paying the entire purchase price upfront.
- NM Associates provides tailored mortgage loan solutions for both salaried individuals and self-employed professionals.
- Legal and technical counseling is offered to assist borrowers in making informed decisions.
- Borrowers can choose between adjustable and fixed-rate loans based on their long-term plans.
NM Associates Mortgage Loan: A Mortgage Loan from NM Associates offers a convenient way to fund business or personal needs, whether you're salaried or self-employed. Unlock the hidden value in your property and access funds through a loan against property. Features include:
- Use of other people's money for financing needs.
- Reasonable interest rates and easy approval process.
- Increase financial reach by leveraging property value for a loan.
NM Associates is your trusted partner for securing mortgage loans, offering personalized solutions to meet your financial goals.