Difference Between Home Loan and Land Loan
Everyone needs a house to dwell in, some people choose to buy a new apartment in residential societies of a prime area for modern living & some people choose to buy a piece of land to construct their own house. For both purposes, you need the money and you can get that from financial institutions. For already built homes, under construction homes, or those which will be built in the future, homeowners use home loans. Those who want to buy land, whether for building a house or simply for investment purposes, however, can not apply for a home loan and must go for a land loan instead.
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