IDFC FIRST Bank Mortgage Relationship Officer Interview Questions and Answers

Questions are on my past experience.

Q1. Same question asked by HR
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Q1. What is mortgage loan
Ans. 
A mortgage loan is a type of loan specifically used to purchase real estate, where the property itself serves as collateral for the loan.
• Mortgage loans are typically long-term loans with fixed or adjustable interest rates.

• The borrower makes monthly payments to the lender until the loan is fully paid off.

• If the borrower fails to make payments, the lender has the right to foreclose on the property.

• Common types of mortgag...read more
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Q2. What means property cycle
Ans. 
Property cycle refers to the recurring pattern of ups and downs in the real estate market.
• Property cycle consists of four stages: recovery, expansion, hyper supply, and recession.

• During the recovery phase, property prices start to increase after a period of decline.

• Expansion phase sees increased demand for properties, leading to higher prices and construction activity.

• Hyper supply phase occurs when there is an oversupp...read more
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Q1. Related mortgages
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Q1. First shortlisted my cv after then online interview
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Q2. Please tell me something about yourself in brief.
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Q3. What is home loan and mortgage.
Ans. 
A home loan is a type of loan used to purchase or refinance a property, secured by the property itself.
• A home loan is a type of secured loan where the property being purchased or refinanced serves as collateral.

• The borrower makes regular payments to the lender over a set period of time, typically 15-30 years.

• The interest rate on the loan can be fixed or adjustable, depending on the terms of the loan.

• Mortgage is a legal...read more
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