Mamta Housing Finance Home Loan

Last Updated : May 5, 2017, 12:57 p.m.

About Mamta Housing Finance Home Loan

Dreaming to possessing your own house can be a fantastic aspiration! In reality, it poses severe hurdles one has to face. However, there is a huge involvement of finances, emotions and a long time commitment one has to seep in. Everybody looks for getting a home loan on fair terms, total transparency and flexibility. That’s where Mamta Housing Pvt. Ltd. comes into existence for making your every possible dream turn into reality.

If you can dream it, nothing should come in your way. This is where Mamta Housing Finance Company offers you a home loan which you can avail for the following purposes:

• A flat, row house, bungalow from private developers in approved projects.
• Properties from Development Authorities such as CMDA, DDA, MHADA etc.

Mamta Housing Finance Eligibility Criteria

To be eligible for a home loan with Mamta Housing Finance company, you must comply following norms:

• You need to be an Indian resident.
• Your age should be above 21 years of age at the commencement of the loan.
• Your age should be below 65 years at the time of maturity of the loan.
• You should be either salaried or self-employed individual.
• The home loan amount is available up to 80% of the cost of the property or 80% of market value, whichever is lower.
• The minimum loan amount shall be ₹5,00,000/-
• The tenure of your Home Loan differs from 1 to 25 years. The term, however, does not extend beyond the retirement age.
• Home Loans can be applied by an individual. The loan amount can be further improved by including an earning co-applicant.

Mamta Housing Finance Home Loan Interest Rate

The home loan interest rate at Mamta Housing Finance is 8.60% p.a.

Other Eligibility factors:

The actual Home Loan amount is ascertained taking into consideration factors such as:

• Repayment Capacity
• Age
• Educational qualifications
• Stability and continuity of income
• Number of dependents
• Co-applicant’s income
• Assets
• Liabilities
• Saving habits and more

Mamta Housing Finance Home Loan EMI Calculator

Home loan decisions are very crucial. They depend on estimated Equated Monthly Installments (EMI’s) payable on your home loan each year. In order to know the best approximation for this financial decision, use a Home loan calculator.

With Home loan EMI calculator , you will get to know about approximate figures for the total payments due along with a break-up of the Home Loan repayment process. The calculations made is dependent upon the loan tenure as well as the interest rates that are applicable on the same.

Moreover, you can also get a fair idea about the ratio of the principal amount to the interest due, subject to the effect of the Home Loan tenure and interest rates.

You can also analyze an amortization table with the help of EMI Calculator to plan your repayment schedule carefully.

For example, you are a government teacher in Delhi, earning ₹40,000 p.m. You have applied for a home loan of ₹5 lakhs to be payable at an interest rate 8.60% p.a. after 20 years. The following table describes your monthly EMI along with interest and the total amount going each year as your settlement done against your home loan.

Table showing EMI, interest outgo and total amount payable on your home loan

Amortization Table

Documentation for Mamta Housing Finance Home Loan

Features and Benefits of Mamta Housing Finance Home Loan

• Attractive Interest Rates
• Easy Documentation
• Quick Approval
• No hidden costs
• Tax benefit under Income Tax Act, 1961
• ECS facility available

Mamta Housing Finance Customer Care Contact Number

If you face any difficulty in understanding the sanction process of the loan amount or have any queries associating with interest rates or having any issue in completing the formalities of documentation process then contact an experienced customer care representative on +91 44 2233 8866. You can write down an email, mentioning your relevant queries or grievances(if any) at the email address given on the website.