Top-up Loan

Purpose

• Loans for a variety of personal or professional needs (other than for speculative purposes).
• Loans for existing customers as well as new customers availing of our Balance Transfer Facility.

Loan Amount

• The maximum Top Up Loan that you can avail of is equivalent to your originally sanctioned loan amount of all the Home Loans put together or Rs. 20 lacs, whichever is higher.
• This is further subject to the cumulative outstanding loans plus the Top Up being offered not exceeding an overall cap of 75% of the Market Value of the mortgaged property, as assessed by MHFC.

Tenure & Term

• You may spread out your payments for the loan over a maximum term of existing Home loan’s tenure.
• You can apply for a Top Up Loan after 12 months' of the final disbursement of your existing Home Loan and upon possession / completion of the existing financed property or based on the last 12 months' track record of the Top Up Loan being refinanced from another institution, subject to possession / completion of the property.

Applicant and Co-Applicant

• Top-up Loans can be applied by an individual. The loan amount can be further enhanced by including an earning co-applicant.

- Attractive Interest Rates

- Easy Documentation

- Quick Approval

- No hidden costs

You can avail a Home Loan of up to 80% of the construction estimate. The loan amount can be further enhanced by including an earning co-applicant.

The actual Home Loan amount is determined taking into various account factors such as:

• Repayment Capacity
• Age
• Educational qualifications
• Stability and continuity of income
• Number of dependents
• Co-applicant's income
• Assets
• Liabilities
• Saving habits and more

• Proof of Identity: PAN card/ Voter id/ Passport/ Aadhaar card/ Driving license/ Employee id/ photo id issued by state / central / statutory / regulatory / bar council / ministries / MNC.
• Proof of Residence: Voter id / Passport / Aadhaar card / Ration card / Gas connection or Electricity book / Telephone bill / Bank statement / Postal passbook / Demat statement / Rental or Lease agreement / Title deed copy / Movement or Transfer order or House allotment letter for Defence personnel.
• Salaried: 3 months' payslips, Form-16 and IT returns, 6 months bank statement, Passport size photograph of all the applicants / co-applicants to be affixed on the Application Form and signed across. Cheque for processing fee favouring 'Mamta housing finance company pvt Ltd'. If there is change in employment in last 3 years, then Appointment letter of new employer, Relieving letter from last employer, and Resume.
• Self-employed: PAN, TAN Card. Income Tax Returns along with computation of income for the last 3 Assessment Years. Last 3 years' Balance Sheet and Profit & Loss A/c Statements, with Annexures/Schedules (Points 2 & 3 should be of both the individual and the business entity and attested by a CA). Last 6 months' Current A/c Statements of the business entity and Savings Account Statements of the individual. Business Profile. Latest Form 26 AS. List of Directors and Shareholders with their individual shareholding certified by a CA / CS in case of the business entity being a company. Memorandum and Articles of Association of the Company. Partnership Deed in case of the business entity being a partnership firm. Details of ongoing loans of the individual and the business entity including the outstanding amount, instalments, security, purpose, balance loan term, etc. Passport size photograph of all the applicants / co-applicants to be affixed on the Application Form and signed across. Cheque for processing fee favouring 'Mamta housing finance company pvt Ltd.'
• Property related documents: Receipt/(s) of initial payment/(s) made to the seller. Copy of the agreement to sell (if already executed).
• Legal documents: Title Deeds including the previous chain of the property documents. Encumbrance certificate from 1.1.1987 to till date. Construction plan approval from local authorities. Layout plan approval from local authorities. House tax receipt-latest.

All documents to be self-attested. The above list is indicative in nature and additional documents can be asked for.