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All you need to know before taking a loan


Lenders generally finance for - 1. Buying under-construction / new or resale residential property 2. Renovation and Extension of exiting residential property

Loan Amount

Normally financial institutes finance maximum up to 80% (90% for loan amount below Rs. 20 lakhs) of the agreement value of the property. As per RBI notification, banks do not fund stamp duty and registration charges anymore.

Interest Type

Very few financial institutes offer pure “Fixed” interest rate that remains fixed for the entire duration of loan. Nowadays, some lenders offer “Dual Rate” where the interest rate remains fixed for duration 1 - 10 years and then gets converted to floating rate of interest.


Normally, the interest rate is calculated as certain point above Base Rate for Banks and certain point above or below PLR ( Prime Lending Rate) for Housing Finance Companies. This difference is popularly known as spread.


Most lenders offers maximum tenure of 30 years but it is also restricted by the borrower’s age at the end of the tenure so as to ensure that the loan repayment ends on or before the retirement age of the borrower which is usually 60 years for salaried and 65 years for self employed borrowers.

Fees and Charges

Every loan has a costs attached to it like Processing Fees or Administrative fees which are non refundable, Legal fees payable to the lender or to the legal consultants of the lender, Stamp duty on creation of mortgage, etc.

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Alok anand

Money Raisers was very helpful in assisting me with my financial situation. They provided outstanding customer service and showed great maturity in understanding about my financial emergency.

Abhishek Singh

Customer service was excellent and timeliness of loan was great. Their loan experts was a great help. Would recommend them to anyone.

Mohit verma

Had an awesome experience from the day I applied for my home loan. Their representative was very co-operative and handled my queries very efficiently.