During certain situations, you require funds urgently in a business venture, for its expansion, such as working capital, repaying back an existing loan, etc. It is a better option than borrowing from family or friends or to drain away your savings. If you have an asset like a fully constructed, residential, or commercial property, apply for a Hero Fincorp Mortgage Loan. It is a secured loan that you can utilise for any of your personal needs. Read on to know about the benefits that you can get from this type of loan.

When you apply for Hero Fincorp Mortgage Loan, there are a number of benefits that you receive and these include:
·         Quick fund disbursal
This is a secured loan and can help you in getting funds on an urgent basis. You need a residential or commercial property that you can keep as collateral with your lender. The amount of loan that you will get ranges between an amount of Rs 50 lakhs and Rs 15 crores depending on the eligibility criteria and the market value of your collateral.
·         Easy processing method
The loan gets issued within a short period of time. You may get the loan as fast as 7 to 10 working days after you have submitted the required documents if you reside in India. Also, there is the provision of collection of documents from your doorstep by the company representatives.
·         Applicant’s profession

Whether you are self-employed, or a business owner, you can get a mortgage loan. You may get a maximum of 75% of the current market value of the property. Salaried professionals cannot apply for this loan.
·         Loan transfer
If you get better loan terms, you may transfer the loan from your previous lender to Hero Fincorp. You have the flexibility to pay off only the balance amount. In this process, your interest rate will also reduce due to a reduction in the principal amount. You can get a longer loan tenure after transfer in spite of the loan tenure agreement with your previous lender.
·         Type of property as collateral
You can get a loan against residential property owned by you or commercial property. The lender will not provide loans on agricultural lands or lands which have not been approved by the government. The lender accepts a variety of properties starting from plots of land, factories, schools, shops, hospitals, etc.
·         Repayment
It usually has a long repayment term of 15 years with low-interest rates. This is an advantage as you can pay a lower rate of interest. You cannot have the loan tenure extended after you reach the age of 60 years.
·         Online calculators
You will find online loan against property calculators for EMIs (Equated monthly instalments). Put in certain details and get information regarding the amount of loan you are eligible for, the monthly EMIs, the period of repayment, etc. This would help to plan your budget in advance.

A Hero Fincorp Mortgage Loan is a quick and easy way to obtain funds if you have a residential or commercial property. There are several benefits that you can get compared to other types of loans but note the terms and conditions of the loan before you apply.
Contact Us & Send Query-
Hero FinCorp Limited
09, Basant Lok, Vasant Vihar, New Delhi - 110057

Tel. 18001024145
Email Id: [email protected]

Website - https://www.herofincorp.com/
URL-  https://www.herofincorp.com/loan-against-property

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