Origin Financial Services, Ongole

Types Of Mortgage Loans

Borrower mortgages the immovable asset personally to avail a loan.

Lender has the right to sell mortgaged property in case of default during repayment.

Borrower transfers the possession of the property to the lender until the loan is repaid.

Lender has the right to enjoy the income generated from the property such as rent or profit.

Borrower binds himself to repay the loan on a certain date and does an absolute transfer of the title to the Lender.

Lender will re-transfer the property to the Borrower upon payment of the mortgage money as agreed.

Borrower transfers title of property to Lender, which is conditional on meeting certain conditions.

If the borrower defaults on the loan, the transfer becomes absolute and the lender can claim the property.

Borrower gives the lender, the property's title deeds as security, which are returned once the loan is paid off.

Borrower keeps ownership and possession of property, and process is usually faster than a registered mortgage.

It is not a standard mortgage and is instead a combination of two or more different types of mortgages.

It can have unusual terms, unique collateral arrangements to address irregular income of borrower.

Used to buy or expand commercial properties like office buildings, shopping centers or industrial warehouses.

Typically have longer terms and higher loan amounts than residential and can last from 3 to 25 years.

Refers to a home loan that has a fixed interest rate for the entire term of the loan.

Are popular products for consumers who want to know how much they have to pay every month.

Allows older people to access equity built up in their homes and defer payment of loan until they die or sell.

Useful when rising loan balance from interest can eventually exceed value of home.