India’s first Mortgage Guarantee Company, India Mortgage Guarantee Corporation (IMGC) is a joint venture that combines the developmental mandate of National Housing Bank (NHB), the technical expertise of Genworth Financial, and the resources of International Finance Corporation (IFC) & Asian Development Bank (ADB). IMGC has come into being with a vision to make early home ownership a real possibility through the provision of Mortgage Guarantee.
Mortgage Guarantee, a relatively new product in India, is actively used by lenders in developed markets as a tool to help promote and advance home ownership. We help in making home ownership a real possibility. The financial constraints are real however there are solutions that can enable lenders to provide higher loan amounts that limit the level of compromise for home buyers. In the absence of a higher loan amount the borrower looks at alternate sources of funds which are typically more expensive compared to the home loan. Not using alternate sources of funding reduces the financial burden on the consumer. Many home buyers are keen on purchasing a home but do not have the necessary savings for the down payment. It is a moving target as you save enough aspirations grow leaving a shortfall once again. We try and help the homebuyer to secure higher loan amount through various product structures. One of them is to extend the tenure of the payment while securing a higher loan amount for the same EMI that he was initially charged. It is a win-win situation for both the lender and the home buyers. The lender also benefits from this scheme; mortgage guarantee provides additional protection thereby significantly reducing the element of risk.
At IMGC we are not only making a significant change in the way people access home loans but also empowering them to buy the home of their dreams.
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To ensure a better future for India by bringing in global credit enhancement expertise that enables homeownership while mitigating the associated risk.
We consider our Values as the guiding force behind everything we do, especially how we do business.
Each one of our dealings, external and internal, is handled with the inherent principle of Trust. We believe that partnership is the way forward in building a stronger economy and a brighter future for home owners across the nation.
Leading the way through new areas of thought leadership, research & development, to become one of the most valued contributors in the mortgage space. We are proud to be India's first Mortgage Guarantee provider.
We are consistent with our principles, keeping all our dealings ethical and honest.
We endeavour to contribute to and work towards a sustainable and effective proposition that enables not just business growth, but also the development of the economy, the lenders and society as a whole.
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