The Home Loan facility is a secured loan provided to our valued customer to build their dream home. The loan is provided for acquiring land, land and building and for construction of new building or renovation / extension of existing building. Minimum loan limit under MBL Home Loan is NPR 500K and maximum limit is NPR 50,000K. Maximum tenure under MBL Home Loan is 25 years including maximum moratorium period (grace period) of 12 months.
Last Updated Date: May 17, 2022
Machhapuchchhre Bank Limited started its banking operations from Pokhara in 2000. Machhapuchchhre Bank Limited was first registered in 1998 as the first regional commercial bank from the western region of Nepal. Machhapuchchhre Bank Ltd. is the first bank to introduce centralized banking software-GLOBUS BANKING SYSTEM of Temenos NV, Switzerland. This bank provides modern banking facilities such as Any Branch Banking, Internet Banking, Mobile Banking, Safe Deposit Locker facilities, Utility Bill payment (Telephone & Mobile), ATM (VISA Debit Cards ) to its valued customers. Vision of Machhapuchhre bank is to provide the best financial products and services in the most efficient and professional manner. It is one of the national level commercial banks operating in Nepal.The Bank has been promoted by highly renowned Non-Residential Nepalese, prominent businessmen and industrialists with a vision and dedication to provide the best financial products and services in the most efficient and professional manner. It has 160 Branch Offices, 133 Branchless Banking Units, 5 Extension Counters and 198 ATMs spread all across the country, and is one of the full fledged national level commercial banks operating in Nepal
Financing services by requiring the following documents for the appropriate individuals:
A home loan is an amount of money that an individual borrows from a bank or money lending company at a certain rate of interest to be paid with the EMI every month. The property is taken as a security by the money lending company for the Home Loan. A home mortgage is a loan given by a bank, mortgage company or other financial institution for the purchase of a residence—either a primary residence, a secondary residence, or an investment residence—in contrast to a piece of commercial or industrial property. In a home mortgage, the owner of the property (the borrower) transfers the title to the lender on the condition that the title will be transferred back to the owner once the final loan payment has been made .
To obtain a mortgage, the person seeking the loan must submit an application and information about his or her financial history to a lender, which is done to demonstrate that the borrower is capable of repaying the loan. Sometimes, borrowers look to a mortgage broker for help in choosing a lender.
The process has several steps. First, borrowers might seek to be pre-qualified. Getting pre-qualified involves supplying a bank or lender with your overall financial picture, including your debt, income, and assets. The lender reviews everything and gives you an estimate of how much you can expect to borrow. Getting preapproved is the next step. You must complete an official mortgage application to be preapproved, and you must supply the lender with all the necessary documentation to perform an extensive check on your financial background and current credit rating.
After you've found a residence you want, the final step in the process is a loan commitment, which is only issued by a bank when it has approved you as the borrower, as well as the home in question—meaning that the property is appraised at or above the sales price. When the borrower and the lender have agreed on the terms of the home mortgage, the lender puts a lien on the home as collateral for the loan. This lien gives the lender the right to take possession of the house if the borrower defaults on the repayments.
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