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HomeBusiness NewsIMGC, Bajaj Housing team up to make home loans easier for first-time buyers
IMGC partners with Bajaj Housing Finance to expand affordable home loans for underserved buyers in India, using mortgage guarantees, Bajaj Housing shares close up 1.85%.
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India Mortgage Guarantee Corporation has partnered with Bajaj Housing Finance Ltd. to expand access to affordable home loans, particularly for underserved and first-time homebuyers, the companies said in a joint announcement.
The collaboration will combine IMGC’s mortgage guarantee capabilities with Bajaj Housing Finance’s distribution network to extend formal housing credit to borrowers who are often excluded due to limited credit histories or informal income profiles.
Under the partnership, Bajaj Housing Finance will use mortgage guarantee-backed solutions, including through its Sambhav Loans offering, to lend to customers in the affordable housing segment while maintaining risk discipline.
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“This partnership with Bajaj Housing Finance is a step forward in expanding access to housing finance for underserved segments,” said Mahesh Misra, Managing Director and CEO of IMGC. “Mortgage guarantees play a key role in enabling lenders to extend credit with confidence, while maintaining strong risk discipline.”
He added that with mortgage penetration in India still relatively low compared to global benchmarks, risk-sharing mechanisms such as mortgage guarantees are critical to scaling responsible lending.
India’s outstanding housing credit stood at around ₹43 trillion as of February 2026, while mortgage penetration remains at 11–12% of GDP, significantly lower than over 50% in several developed markets, highlighting the scope for expansion in housing finance.
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The partnership also aims to strengthen IMGC’s presence in the affordable housing segment and support the development of a more inclusive housing finance ecosystem in the country.
Shares of Bajaj Housing Finance Ltd. closed 1.85% higher at ₹91.19 on Tuesday. The stock has gained 16% in the past month, while delivering a negative 30% return over the last year.
