Home Loan at 6.66% .

Home Loan rates have really dived in the last quarter, so if you are planning to get a new home loan. please speak to us and then decide. If you have an existing Home Loan running . you can get a better rate from the existing bank or you can contact us we can provide you the industry best rate. Call at 9911594833 for details.

Mortgage Broker !

Mortgage Broker :

The expansion of Mortgage Market has seen many new marketing  entities emerging in this field. The competition is quite tough and every institution is after good customers. There are about 40 plus financial  institutions which are lending Property based loans in the market. This includes your neighborhood bank and a not so known  Non Banking Finance Companies (NBFC) . The bank is still the cheapest source of loan  because   their cost of funds is least in the market and then followed by NBFC's.  The bank has its own team to market the product , then their is another entity which markets Loans for these banks and NBFC's which is called as  DSA/DMA ( Direct Sales Associate /Direct Marketing Associates )The Bank team only sells  their products , where as a DSA.DMA you can sell the product of multiple banks and nbfc's. The benefit you get dealing with a DSA/DMA is that you are going to get a bouquet of products and you can pick a product according your need. Now this is what a Mortgage Broker does in the west.  The Mortgage Broker brings the best deal for their customer, so the role of a Mortgage Broker is becoming very important with the time. As per general understanding The market can be broadly divided into two categories :

Salaried Applicants

Self Employed Applicants.

Salaries Applicants :

 Salaried applicants those who are working for the blue chip corporate are the biggest gainer , and bank can provide them customized loan solutions, since the default rate in this segment is zero. The other salaried class are not that lucky, they are charged the rack rate of interest. 

Self Employed Applicants:

This is the biggest market for the financial institutions these days. Institutions have customized schemes for this segment , and this is the segment which provides them the best returns on their lending. The rate may vary according to the profile of the customer. The professional self employed are the best bet. The loan is calculated through many methods, 

Net Income:

 It is called as  vanilla product  generally all banks base their loan calculation on this method.In this method the loan is amount arrived after calculating PAT ( Profit after tax) and depreciation) The loan eligibility remains minimum in this scheme.

Gross Margin :

 In this product the loan is based on the turnover of the entity. A standard industry margin is taken to calculate the loan amount. The NBFC's is the main lender here , they design their product according to the prevailing market conditions and end up charging a premium rate for these innovative products.  Except few , most of the banks do not do this product. This is one segment from where maximum loan amounts are disbursed. The self employed segment is the main focus of this scheme and maximum loan  eligibility is arrived by this scheme.

Banking Product :

 This product is their with few banks and NBFC's, the loan amount is calculated on the average balance on few dates in a month, and a certain percentage of that average can be the EMI of the prospective loan.

Repayment Track :
This is also a product with few Institutions, here the calculation is based on Existing EMI's. Your existing loan should be at leas one year old and based on the EMI and track a loan can be advanced to you. 

For a customer to have knowledge of all these products is a tough task and these products may stay or vanish according to the market conditions, so it is always advisable to go through a Mortgage Broker,  He can  get you the best terms according to the profile. Instead of you running around these many institutions the broker does all this and brings you the best rate. As far as the broker payment is concerned, he gets his payout from the institution  and the  customer  does not have to pay anything to the broker separately.

So next time you are there in the market for a Loan. Take the help of Mortgage Broker, you may get a dream deal on your loan.
If you need a Mortgage Broker Service in Delhi NCR. Drop a mail at dbisht@yahoo.com or call at 9911594833 for quick chat on our services.