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India » Mortgages


India

Mortgages are available to foreigners. You should probably expect to put down about 7% depending on various factors. Though the housing finance industry in India is growing for the past few years still financing through the organized sector continues to account only for 25% of the total housing investment in India.

Guide to the mortgages in India:

Keep in mind that for many countries, there is often more than one deal available and this page merely represents an overview of the typical requirements.

Typical Rate From 10.5% to 12.5%
Loan purpose Residential, Investment and Land
Min Loan Rs 5 lacs (approx £1,300)
Max Loan Rs 1 crore (approx £130,000) 85% loan to value.
Term Salaried 15 years. Self -employed 10 years.
Max Age 70
Repay method Capital and Interest
Currency Rupee
Additional info Available to Non Resident Indian nationals (NRI). Mortgage and term based on affordability and repayment capability as well as employment status. Income has to be proven as well as liabilities. General rule. New mortgage along with other liabilities must not exceed 50% gross annual income.

 

India Mortgages
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