Different Type of Home Loans in India
Loans for Construction of a Home
Ideal for persons who want to build their own house rather than buying a ready home
House Expansion Loans
Ideal for persons who want to alter an existing house by adding a bedroom or balcony etc
Loans for Land Purchase
Although not offered by all the institutions, these loans help you in purchase of land either for building a house or keeping it just for investment.
Home Improvement Loans
Ideal for persons who want to repair and renovate their existing homes.
Balance Transfer Home Loans
Ideal for persons who want to tranfer their existing Home Loan from one
lender to another institution.
NRI Home Loans
Again not every institution offers loan to NRIs but these loans are helpful to Non Residents in buying a property in India
Ideal for homeowners who want to buy a new home but needs bridge funding till the time their existing home is sold and funds received from it
Loans for Purchase of a House
Most common loan taken by most people. Available for tenure of 25 to 30 years. Interest rates are mostly floating.
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