A mortgage is a way to use one’s real property as a guarantee for a loan to get money. The company would give you money in exchange for home papers in mortgage loans.
The company has nothing to do with how you can spend the money taken on a mortgage loan. The money taken in a mortgage loan can be used by the Child Marriage, Your Child Education, Business Purpose or any Personal Expenses.
You have to repay the loan money in the mortgage loan, you will have to repay it through EMI. Mortgage Loan (loan against property) is for your personal uses you can take 60% to 70% loan amount of current market value of your property at the lowest rate of interest.
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