Innovative Home Loan Products Launched through Strategic Partnership

India Mortgage Guarantee Corporation partners with GIC Housing Finance Ltd to offer mortgage guarantee-backed home loan products. This strategic collaboration seeks to enhance accessibility and affordability for salaried and self-employed borrowers through innovative financial solutions, ultimately aiming to expand homeownership opportunities for middle and low-income groups in India.

India Mortgage Guarantee Corporation and GIC Housing Finance Ltd have announced a partnership to provide innovative mortgage guarantee-backed home loan products. The initiative is designed to enhance the accessibility and affordability of loans for salaried and self-employed borrowers in India's evolving housing finance sector.

The collaboration combines IMGC's expertise in mortgage guarantees with GICHFL's expansive network to deliver more flexible and secure mortgage solutions. The products aim to support lender partners by promoting responsible lending with minimal risk, thus aiding home buyers in achieving their homeownership dreams through higher eligibility and lower monthly installments.

Akriti Singh, IMGC's Chief Alliance Officer, highlighted the value accretive innovations that focus on risk mitigation and operational efficiency. GICHFL MD and CEO Paul Lobo emphasized that the partnership will make homeownership more accessible for middle and low-income groups, further accelerating the growth of the housing segment in India.

(With inputs from agencies.)