What is Reverse Mortgage
Reverse Mortgage is the loan that is offered for the present residential property owners and is generally provided for older homeowners and does not require monthly mortgage payments. Reverse mortgage helps the borrowers to meet their day-to-day expenses pertaining to medicine, food, and repair of the house. The reverse mortgage is a great financial aid for senior citizens who want to live independently even in the old age. The loan ensures peace of mind at that crucial age.
Minimum age to avail reverse mortgage: 60 years
Criteria on which Reverse Mortgage is offered
• The property should be in the borrower’s name, insurance, tax, and upkeep payments should be done till date.
• Some of the conditions on which Reverse Mortgage is offered are:
• Age of the borrower.
• Minimum residential life of the property should not be less than 20 years.
• ceiling limit is Rs.50, 000 on the monthly payment plans and 50 percent of the loan amount is the maximum lump sum limit.
• Banks offer loan 40 to 50 percent of the market value of a residential property
• no tax levied on the property if the borrower or the legal heirs return the full amount from different sources, without selling the property.
While buying a property invest in the worthy project so that it helps you get more returns and as well as aids you on your rainy day. Invest in a residential property like Puranik Future City an Godrej Kharghar. Puranik City Neral which is located at Neral Mumbai and Godrej Kharghar which is located at Navi Mumbai is right option to buy.
|Puranik Future City | Residential Apartment At Neral Mumbai|
Godrej Kharghar - If You are planning for Investment
Godrej real estate developer was established on 1990. Godrej property is one of the leading home developer in India. This real estate developer are coming with many new project at Navi Mumbai. Godrej Kharghar is one of them. The location of the project is one of the major factors while doing investment.
Puranik Future City the Best Investment For Lifetime
Puranik Future City project is a residential property designed to offer the most comfortable living along with necessary amenities. The property is developed by the by the civil experts of Puranik Properties the trusted developer of the country for the high-quality delivery.
Puranik Future City Neral property is well-surrounded by best educational institutions, banks, colleges, restaurants, ATMs, and health care centres for the convenience of stay. IT parks are also in the vicinity of the property for the effortless travel of the residents to the workspace.
|Puranik Future City Neral|
Puranik Future City Neral property is an RCC framed structure for the higher durability and the units are crafted carefully to offer you a blissful stay. The property has many amenities like a well-equipped gymnasium to keep up with your fitness routine, secured visitor parking for your guests to park their vehicle with safety, a swimming pool to relax and refresh you from the daily work, a community hall for all your celebrations, 24/7 water supply and 100% electric power backup for the most comfortable living for the smooth life.
|Puranik Future City Mumbai|
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Puraniks Builders Puraniks Codename Future City Neral Mumbai