What type of houses are financed by the Mahindra Finance home loans ?
All independent houses/flats/apartments of permanent nature having a valid title can be financed. It is important for these houses/flats/apartments to have building approvals from civic authorities and also house properties which may be under construction or completed and ready to be occupied.
Do I need to provide any security for home loans?
Yes, an equitable or simple registered mortgage of the house being financed, will be required for security. The type of mortgage to be created will depend on the documents of title (ownership) being submitted/made available. After a preliminary examination of the papers submitted by an applicant, the legal officers of Mahindra Finance will advise the type of mortgage that would be required.
How do I repay home loan from Mahindra Finance?
The loan can be repaid in monthly, quarterly or half yearly EMIs comprising of principal and interest.
Repayment of the loan can be made by Cash / Cheque / Demand draft at any office or at collection centres approved by Mahindra Rural Housing Finance Limited.