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Home loans – A primer

Best home loan rates - Get instant New Home Loan form HDFC for purchase of a flat, row house, bungalow from private or govt development authorities approved projects<br>

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Home loans – A primer

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  1. Home Loan

  2. Home loans – A primer

  3. Home construction loans are used to finance for the construction of newly acquired home or if you are planning to build a home. • But, with so many home construction loans available in the Indian market you should decide the best one that would suit you the most and is favorable to you. • You can take different types of home loan like Home construction Loans, Mortgage Loans, Home Extension Loans, Home Improvement Loans, Bridge Loans, Land Purchase Loans etc for different schemes available in the market. • Home Purchase Loans: These are the basic forms of home loans used for purchasing of a new home.

  4. Home Improvement Loans: These loans are given for implementing repair works, healing and renovations in a home that has already been purchased. • Home Construction Loans: These loans are available for the construction of a new home. • Home Extension Loans: These loans are given for expanding or extending an existing home. For eg: addition of an extra room, etc. • Home Conversion Loans: These loans are available for those who have financed the present home with a home loan and wish to purchase and move to another home for which some extra funds are required.

  5. Amount of Loan: About 60-65% of the actual value of the property can be had from the bank in the form of loan. • which may go as high as a few crores for commercial and residential property and its repayment period may range from 10 to 15 years, depending on individual bank’s policies. • Types of Interest: The rate of interest in the home equity loans can both be fixed as well as floating, according to the requirement of the customer. • Banks now-a-days however are preferring the floating rate loans, as their risk is lesser with these loans. • [Source: https://blog.bankbazaar.com/home-loans-a-primer/]

  6. Click to know more on Home Loan: http://www.hdfc.com/housing-loans/home-loans/for-new-homes-salaried Thank You…

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