Frequently Asked Questions (FAQ) for Home & Mortgage Loans

## Understanding the Basics

### What is the difference between a Home Loan and a Mortgage Loan?

A Home Loan is specifically used to purchase a new residential property or a plot. A Mortgage Loan (often called a Loan Against Property) allows you to borrow funds by pledging your existing property as collateral for personal or business needs.

### Who is eligible to apply?

Eligibility depends on factors like your age, monthly income, credit score (CIBIL), and employment stability. Both salaried individuals and self-employed professionals can apply.

## Financials & Interest Rates

### How can I get the lowest interest rate?

To secure the lowest rates, maintain a credit score above 750, provide all necessary income documents, and consider a shorter loan tenure. At Home Loan Prime, we negotiate with multiple lenders to find you the most competitive offers.

### What are the additional costs involved?

Apart from the interest, you should account for:

• Processing fees

• Stamp duty and registration charges

• Valuation fees

• Insurance premiums

## Why Choose Home Loan Prime?

### Do you offer door-step service?

Yes! We provide free consultancy and door-step service. Our experts handle the paperwork while you stay in the comfort of your home.

### How do I get started?

Simply visit our Contact Us page, fill out the form, and our team will reach out to you within 24 hours for a free consultation.