Top Mortgage Loans Providers in Visakhapatnam - Home Loans

Top List of 6 Mortgage Loan Agents in Visakhapatnam. Get a mortgage loan with a low interest rate. Also, get an instant home loan, construction loan, property loan, and more. Find the best mortgage loan service providers near your location. as on Dec 03, 2024

Sri Sai Teja Home Deals

Dondaparthy, Visakhapatnam, 530016

5.0/5 Based on 5 Reviews

+07569002704

Loans

Response Time: Within 15 MinsSulekha score: 7.8

Sri Sai Teja Home Deals, located in Dondaparthy, Visakhapatnam, is a reputable finance company offering a wide range of financial services. Established in 2000, the company is led by A. Srinivasa Rao and specializes in providing home loans, mortgage loans, business loans, personal loans, and plot loans. They are committed to helping individuals and businesses achieve their financial goals with customized loan options tailored to various needs. Whether you are looking to purchase a home, refinance, or obtain funding for your business, Sri Sai Teja Home Deals strives to make the process efficient and transparent

Available Loan Types:

Offering 10+ different types of loans

Loan Amount Range:

From ₹10 Lakhs to ₹1 Crore and above
Depending on the type of loan

Satish p from Visakhapatnam

"Very good and exlent service Very good knowledge persons "

Bharatgi from Visakhapatnam

"Good service, well known persons, genuine work "

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Ratan Associates

Dwaraka Nagar, Visakhapatnam, 530016

+08069868445

Loans

Response Time: Within 15 MinsSulekha score: 4.9

Ratan Associates, located in Dwaraka Nagar, Visakhapatnam, specializes in providing a range of financial services. Established over 7 years ago, they offer home loans, mortgage loans, personal loans, and loans against property?. Their expertise lies in helping clients navigate financial options with ease, ensuring fast response times and reliable solutions?. With a customer-centric approach, Ratan Associates is known for delivering personalized financial advice and support. The company has earned a solid reputation for professionalism and efficiency, serving both individuals and businesses across Visakhapatnam. Their experienced team is dedicated to meeting clients' diverse financial needs, ensuring transparent and effective services.

Available Loan Types:

Offering 9 different types of loans

Loan Amount Range:

From ₹1 Lakhs to ₹55 Lakhs and above
Depending on the type of loan

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SV Fin Serv

Akkayyapalem, Visakhapatnam, 530016

+09021118433

Loans

Sulekha score: 4.9Working hours: 10 AM to 6 PM

SV Fin Serv, located in Akkayyapalem, Visakhapatnam, is a reputable financial service provider offering a wide range of loan options tailored to meet diverse needs. They specialize in various types of loans, including personal, home, business, and vehicle loans, providing flexible financing solutions for individuals and businesses. With a customer-centric approach, SV Fin Serv ensures hassle-free processing and quick disbursement of loans. Their services are marked by transparency, competitive interest rates, and personalized financial advice to help clients make informed decisions. They have built a strong reputation in the region for their reliability and commitment to customer satisfaction?

Available Loan Types:

Offering 20+ different types of loans

Loan Amount Range:

From less than ₹1 Lakhs to ₹1 Crore and above
Depending on the type of loan

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Shourya Associates

Dwaraka Nagar, Visakhapatnam, 530016

+08069670322

Loans Construction Loans Loan against Mutual Funds

+3 more

Sulekha score: 7.1Working hours: 9 AM to 6 PM

Welcome to Shourya Associates, where we help you achieve your financial goals with our wide range of services. Established in the bustling city of Dwaraka Nagar (Visakhapatnam Bus Station), we have been in the business for several years and have successfully catered to the needs of numerous satisfied customers. Our team of experts is dedicated to providing the best solutions for all your financial needs. We offer a variety of loans, including vehicle loans, home loans, education loans, business loans, mortgage loans, loan against securities & cards, personal loans, project loans, gold loans, NRI loans, unsecured loans, private finance loans, machinery loans, and more. With flexible options for both CIBIL defaulters (score below 750) and non-CIBIL defaulters (score above 750), we have something for everyone. Whether you are in India or abroad, looking for a loan between 1 - 5 lakhs or more than 20 lakhs, we have got you covered. Our services

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Shri Vinayak Enterprises

Vaishali Nagar, Jaipur, 302021

( Also serves in Visakhapatnam )

Loans

Sulekha score: 7.8Working hours: 10 PM to 7 PM

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Punith

Laggere, Bangalore, 560078 ( Also serves in Visakhapatnam )

Loans

Sulekha score: 7.1Working hours: 10 AM to 6 PM

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Sagar Enterprises

Malviya Nagar, Delhi, 110017 ( Also serves in Visakhapatnam )

1.0/5 Based on 1 Reviews

Loans Construction Loans

Sulekha score: 6.6Working hours: 10 AM to 5 PM

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Instant Finanace

Ganjem, Goa, 110025 ( Also serves in Visakhapatnam )

3.4/5 Based on 5 Reviews

Loans

Sulekha score: 5.6Working hours: 10 AM to 6 PM

Praveenkumar B V from Goa

" Communication 5/5 responsiveness 5/5 good price 5/5 ontime services 5/5 Service Quality 5/5"

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Sri Balaji Associates

Begumpet, Hyderabad, 500016

( Also serves in Visakhapatnam )

4.9/5 Based on 7 Reviews

Loans

Sulekha score: 7.5Working hours: 09:00 am to 05:00 pm

Sri Balaji Associates, located in Begumpet, Hyderabad, is a well-established partnership firm founded in December 2007. The firm primarily operates in the financial services sector, focusing on various loan services including home loans, business loans, mortgage loans, and personal loans. Their office is situated at Mehar Manjil, Dwarakapuri Colony, Punjagutta, Hyderabad. Classified as a micro-enterprise under MSME, Sri Balaji Associates has been serving the community for over 16 years, offering customized financial solutions to meet the diverse needs of its clients. The firm is known for its reliable services in the financial domain and maintains a strong presence in the local market.

Available Loan Types:

Offering 12 different types of loans

Loan Amount Range:

From ₹10 Lakhs to ₹1 Crore
Depending on the type of loan

arunprasad from Hyderabad

"Personal loqn"

Enquire Now

Why Choose Sulekha?

Sulekha is your go-to platform for finding a wide variety of loan providers catering to diverse financial needs such as personal loans, mortgage loans, home loans, vehicle loans, car loans, education loans, and more. With Sulekha, you gain access to a comprehensive network of reputable lenders, ensuring you find the perfect match for your specific requirements. The platform simplifies your search process, saving you time and effort by connecting you with trusted professionals who can offer tailored loan solutions. Choose Sulekha for a seamless and efficient loan-seeking experience.

1. When to Consider Taking Out a Mortgage Loan?

Stable Financial Situation: Ensure you have a stable income to manage monthly mortgage payments and maintain a sufficient emergency fund for unexpected expenses. A low debt-to-income ratio indicates manageable debt levels, making it easier to qualify for a mortgage.
Long-Term Commitment: Consider your future plans and whether you intend to stay in the property for a long period. Mortgages are long-term commitments, and frequent moving can be costly. Evaluate your family's current and future needs, such as space requirements and proximity to schools or work.
Housing Market Conditions: Analyze current housing market trends, including interest rates and property values. Low-interest rates and favorable market conditions can make it a good time to buy. Additionally, consider the potential for property value appreciation as a long-term investment.
Affordability and Budgeting: Save a substantial down payment to reduce the loan amount and potentially avoid private mortgage insurance (PMI). Ensure the monthly mortgage payments fit comfortably within your budget without compromising other financial goals.
Creditworthiness: A good credit score can help you secure a mortgage with favorable terms and lower interest rates. Review your credit history for inaccuracies and resolve outstanding issues to improve your credit profile, increasing your chances of loan approval.
Loan Types and Options: Understand the differences between fixed-rate and adjustable-rate mortgages and choose the one that best suits your financial situation and risk tolerance. Evaluate different loan terms (e.g., 15-year vs. 30-year) and their impact on monthly payments and total interest paid over the life of the loan.
Readiness for Homeownership: Be prepared for the responsibilities of homeownership, including maintenance, repairs, and property taxes. Consider how homeownership will impact your lifestyle and whether you are ready for the associated commitments.

2. Eligibility Criteria for Taking a Mortgage Loan?

Credit Score: A good credit score is essential as it indicates your creditworthiness. Generally, a score of 620 or higher is required, but a higher score can qualify you for better terms and interest rates.
Income: Lenders assess your income to ensure you can afford the loan payments. They will consider your employment history, salary, and other sources of income. Stable and sufficient income is crucial.
Debt-to-Income Ratio (DTI): This ratio compares your monthly debt payments to your monthly gross income. Lenders typically prefer a DTI ratio below 43%, though some may accept higher ratios depending on other factors.
Down Payment: Most mortgage loans require a down payment. The amount can vary but is typically between 3% and 20% of the home’s purchase price. Larger down payments can improve your chances of approval and get better loan terms.
Employment History: A stable employment history, usually at least two years with the same employer or in the same industry, is preferred. This demonstrates financial stability.
Property Appraisal: The property you intend to buy must be appraised to determine its market value. The loan amount is generally based on the appraised value or the purchase price, whichever is lower.
Savings and Assets: Lenders may require proof of savings or assets that can be used as a cushion in case of financial difficulties. This can include savings accounts, investments, or other assets.
Loan Type and Terms: The type of mortgage (fixed-rate, adjustable-rate, FHA, VA, etc.) and the loan terms (such as the length of the loan) can influence eligibility. Some loans have specific requirements, such as VA loans for veterans.
Documentation: You will need to provide various documents such as tax returns, pay stubs, bank statements, employment verification, and identification documents.
Residency Status: Proof of legal residency or citizenship may be required. Some lenders offer loans to non-citizens with specific documentation.

3. What are the Benefits and Advantages of a Mortgage Loan?

Home Ownership and Equity Building: Owning a home is a long-term investment that can appreciate over time, and each mortgage payment builds equity in the property, serving as a financial asset.
Tax Benefits: Mortgage interest and property tax payments are often tax-deductible, reducing taxable income and providing significant tax relief.
Predictable and Lower Payments: Fixed-rate mortgages offer consistent monthly payments, simplifying budgeting. Mortgage loans also generally have lower interest rates compared to unsecured loans because the property serves as collateral.
Leveraging and Credit Improvement: Mortgages allow individuals to leverage property value, enabling the purchase of more expensive homes. Regular on-time payments improve credit scores, and having a mix of credit types positively impacts credit ratings.
Flexible Terms and Refinancing: Various mortgage term lengths and types (fixed-rate, adjustable-rate) offer flexibility. Refinancing options can reduce interest rates and monthly payments or provide access to home equity for other financial needs.
Forced Savings and Stability: Mortgage payments act as forced savings, with part of each payment building equity. Homeownership provides long-term housing stability, protecting against rent increases and eviction risks.
Pride and Investment Opportunities: Homeownership provides a sense of pride and achievement. Homeowners can also generate rental income, helping to offset mortgage costs and further enhancing financial stability.

4. Important Factors to Consider When Taking a Mortgage Loan?

Interest Rates: Fixed rates offer stable monthly payments, while variable rates can fluctuate with market conditions. Look at the Annual Percentage Rate (APR) for a comprehensive view of the loan's cost.
Loan Term: Shorter terms like 15 years have higher monthly payments but lower total interest costs, while longer terms like 30 years offer lower monthly payments but higher overall interest.
Down Payment: A higher down payment reduces the loan amount and monthly payments and can eliminate the need for private mortgage insurance (PMI). Ensure you have enough savings left for emergencies and other financial goals.
Credit Score: Higher credit scores typically qualify for lower interest rates. Check your credit report for errors and work on improving your score before applying for a mortgage.
Debt-to-Income Ratio (DTI): Lenders assess your ability to repay the loan by looking at your DTI. Aim for a DTI below 43%, but the lower, the better for your financial health.
Loan Types: Conventional loans usually require higher credit scores and down payments, while government-backed loans like FHA, VA, and USDA have different requirements and benefits.
Fees and Closing Costs: These include appraisal fees, origination fees, and title insurance, which can add up to 2-5% of the loan amount. Some fees can be negotiated or shopped around.
Prepayment Penalties: Check if the loan has penalties for early repayment, as these could affect your ability to refinance or pay off the loan early.
Loan Servicing: Research the lender or servicer’s reputation for customer service and loan servicing practices to ensure a smooth mortgage management process.
Future Financial Plans: Consider your job security and potential for income changes. Research housing market trends in the area to understand potential property value changes.
Insurance and Taxes: Understand the property tax rate and how it will affect your monthly payment. Get estimates for homeowners insurance to factor into your overall housing costs.
Affordability and Budget: Ensure the monthly mortgage payment fits comfortably within your budget, considering other financial goals and expenses. Maintain an emergency fund to cover unexpected costs without compromising your mortgage payments.

5. Mortgage Loan Interest Rates?

Bank Name	Interest Rate (p.a.)	Loan Tenure	Processing Fees
State Bank of India	7.50% - 8.60%	Up to 30 years	0.35% of the loan amount (Min Rs. 2,000, Max Rs. 10,000)
HDFC Bank	7.60% - 8.50%	Up to 30 years	Up to 0.50% of the loan amount or Rs. 3,000 whichever is higher
ICICI Bank	7.70% - 8.60%	Up to 30 years	0.50% of the loan amount + GST (Min Rs. 3,000)
Axis Bank	7.75% - 8.70%	Up to 30 years	1% of the loan amount or Rs. 10,000 whichever is higher
Punjab National Bank	7.55% - 8.65%	Up to 30 years	0.35% of the loan amount (Min Rs. 2,500)
Bank of Baroda	7.65% - 8.50%	Up to 30 years	0.50% of the loan amount (Min Rs. 7,500, Max Rs. 20,000)
Kotak Mahindra Bank	7.60% - 8.50%	Up to 20 years	Up to 1% of the loan amount + GST
IndusInd Bank	7.70% - 8.75%	Up to 20 years	0.50% of the loan amount (Min Rs. 5,000, Max Rs. 10,000)
IDBI Bank	7.50% - 8.50%	Up to 30 years	0.50% of the loan amount (Min Rs. 2,500, Max Rs. 10,000)

Please note: Interest rates and fees can vary based on the loan amount, tenure, credit profile of the borrower, and specific bank policies. It is advisable to check with the respective bank for the most accurate and updated information.

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Most Common Questions About Mortgage Loans

1. Who are the best Mortgage Loan providers in Visakhapatnam?

Sri Sai Teja Home Deals
Ratan Associates
SV Fin Serv
Shourya Associates
Shri Vinayak Enterprises

2. What documents are required for a Mortgage loan?

Typically, you need identity proof (Aadhaar, PAN card), address proof (utility bills, rental agreement), income proof (salary slips, bank statements, ITR), property documents (title deed, sale agreement), and a recent photograph.

3. What are the eligibility criteria for a Mortgage loan?

Eligibility criteria include being an Indian resident, aged 21-65, having a stable income source, good credit history, and ownership of a property that can be mortgaged. Specific criteria may vary by lender.

4. How do I apply for a Mortgage loan online?

You can fill out the Sulekha form above with your loan requirements, and connect with the best loan providers that suit your needs. Also you can apply online by visiting the lender's website, filling out the application form with required details, uploading necessary documents, and submitting the form for processing. Some lenders may offer doorstep services for document collection.

5. How can I get an instant Mortgage loan?

Instant mortgage loans are rare due to the need for property evaluation and legal checks. However, pre-approved loans for existing customers or quick processing options from certain lenders may expedite the process.

6. What is the percentage rate for Mortgage loans?

The interest rate for mortgage loans typically ranges from 8% to 12% per annum, depending on the lender, borrower’s creditworthiness, loan amount, and tenure. Rates can vary widely, so it’s advisable to compare different lenders.

7. Can I get a Mortgage loan with a low CIBIL score?

Yes, it is possible but may come with higher interest rates and stricter terms. Some lenders offer mortgage loans to individuals with low CIBIL scores, but the approval process may be more stringent.

8. What is the processing fee for a Mortgage loan?

The processing fee for a mortgage loan usually ranges from 0.5% to 2% of the loan amount. This fee covers administrative costs and varies by lender. It’s important to confirm this with your lender before applying.

9. Can I get a Mortgage loan with a bad credit score?

Getting a mortgage loan with a bad credit score is challenging but possible with certain lenders. You may face higher interest rates and stricter terms. Providing a strong co-applicant or additional collateral can improve your chances.

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Top Mortgage Loan Providers in Visakhapatnam

What type of mortgage loan do you need?

Find the Top Mortgage Loan Providers from Sulekha in Visakhapatnam

Top List of 6 Mortgage Loan Agents in Visakhapatnam. Get a mortgage loan with a low interest rate. Also, get an instant home loan, construction loan, property loan, and more. Find the best mortgage loan service providers near your location. as on Dec 03, 2024

Sri Sai Teja Home Deals

Ratan Associates

SV Fin Serv

Shourya Associates

Shri Vinayak Enterprises

Punith

Sagar Enterprises

Instant Finanace

Sri Balaji Associates

Recently Connected Loans Business Partners in Visakhapatnam

Why Choose Sulekha?

1. When to Consider Taking Out a Mortgage Loan?

2. Eligibility Criteria for Taking a Mortgage Loan?

3. What are the Benefits and Advantages of a Mortgage Loan?

4. Important Factors to Consider When Taking a Mortgage Loan?

5. Mortgage Loan Interest Rates?

Most Common Questions About Mortgage Loans

1. Who are the best Mortgage Loan providers in Visakhapatnam?

2. What documents are required for a Mortgage loan?

3. What are the eligibility criteria for a Mortgage loan?

4. How do I apply for a Mortgage loan online?

5. How can I get an instant Mortgage loan?

6. What is the percentage rate for Mortgage loans?

7. Can I get a Mortgage loan with a low CIBIL score?

8. What is the processing fee for a Mortgage loan?

9. Can I get a Mortgage loan with a bad credit score?

Tips & Solutions for Applying Loan View All Blogs

Home Buying Trends 2021

Important Things That NRIs Should Know About Home Loan In India

Home Loan Agreement- Important clauses to know!

How To Avoid Rejection Of Your Personal Loan Application