Although everyone in India dreams of owning a beautiful home, it becomes a tough task under the prevailing real estate prices. At such a time, a home loan can become their saviour. Moreover, there are many types of home loans available to choose from.
Types of home loan
See what all you can use a home loan for:
By taking a loan, you can do much more towards creating your dream home than just buying a property.
Read More:
PNB Housing Finance Ltd. Home Loans @Low Rate of Interest
Know About Different Types Of Home Loan In India
Types of home loan
See what all you can use a home loan for:
- Land purchase loan: You can buy land as a flexible option and construct your home when you have enough finances. This loan is also used for investing in the land. You usually get up to 85% of its cost as the amount of loan.
- Home construction loan: This type of housing loan is excellent for those who want to construct a house in the desired manner on a purchased plot.
- Home purchase loan: A very common type of home loan is the one that is granted for buying a new or pre-owned house. It is readily available at fixed or floating interest rates.
- Loan for home improvement: Any kind of renovation or redesign can be costly for homeowners. Thus, they can comfortably avail a loan to improve their home.
- Home extension loan: It is beneficial for those who need to construct new rooms or extend/add to their home structure.
- Home conversion loan: This housing loan benefits those who have bought a home on loan but now want to move to a new house and need their loan transferred.
- NRI home loan: It is specially designed for non-resident Indians who want to buy real estate in India.
By taking a loan, you can do much more towards creating your dream home than just buying a property.
Read More:
PNB Housing Finance Ltd. Home Loans @Low Rate of Interest
Know About Different Types Of Home Loan In India
Comments
Post a Comment