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Home Loans

 

More Information on Home loans
Home Loan Types of Home Loans
Interest Rates EMI
Eligibility Other Requirements
Tax Benefits Income Tax Rules
Documents Required Housing Finance Companies
 
Types of Home Loans

There are a variety of home loans available in India, offered by various financial institutions like Banks and Housing Finance Companies, such as:

Home Purchase Loan  
Existing Home Improvement Loan  
Home Construction Loan  
Home Extension Loan  
Home Conversion Loan  
Land Purchase Loan  
Bridge Loan  
Balance Transfer Loan  
Refinance Loan  
Loans to NRIs  

Home Purchase Loan
Home purchase loan is the basic home loan for purchase of a new home.

Existing Home Improvement Loan
Home Improvement Loan is to finance internal and external repairs and other structural improvements that will add life and value to your home. Some of the Home Improvements that can be financed under this scheme include: External repairs, Waterproofing and roofing, Internal and external painting, Plumbing and electrical work, Tiling and flooring, Grills and aluminum windows, Waterproofing on terrace, Construction of underground/overhead water tank, Paving of compound wall (with stone/tile/etc.), Bore well etc.

Home Construction Loan
Home construction loan is for the construction of a new home.

Home Extension Loan
Home Extension Loan is to extend or add space to your existing house. Be it an additional room on the same floor or the terrace, a larger bathroom, or even enclosing an open balcony. The Home Extension loan will facilitate your home extension plans.

Home Conversion Loan
Home Conversion Loan is for those who have financed the present home and wish to purchase and move to another home with a Home Loan. Through a Home Conversion Loan, the existing loan is transferred to the new home including the extra amount required, eliminating the need for pre-payment of the previous loan.

Land Purchase Loan
Land purchase loan is for purchase of land for both home construction or investment purposes.

Bridge Loan
Bridge loans are for the people who wish to sell the existing home and purchase another. The bridge loan helps finance the new home, until a buyer is found for the old home.

Balance Transfer Loan
Balance transfer loan helps you to pay off an existing loan and avail the option of a loan with a lower rate of interest.

Refinance Loan
Refinance loan helps you pay off the debts you have incurred from private sources such as relatives and friends, for the purchase of your present home.

Loans To NRIs
Loans for the NRIs who wish to build or buy a home in India. NRIs can avail loan for buying or constructing a new home, extending an existing home, to undertake improvements in existing home or even to buy a plot of land from Development Authorities.

 

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