The are several number of banks in the country, which are coming up with interesting home loan plans in the country. Home loan companies are offering types of home loans as per necessity of individuals. Here are some of the home loan categories:
Home Purchase Loans: Basic home loans are there for new home's purchase. Banks sanction the loan to you when you want to purchase a flat in some society or some already built house.
Home Improvement Loans: Banks sanction the loan for those houses, which are implementing repair work of house that was already purchased by you. Home needs some external works like waterproofing, structural repairs, or internal works like flooring, tilling, electrical work etc.
Home Construction Loans: These loan is useful to build a new home. There is a difference in documents submission which are needed by bank for sanctioning home construction and home purchase loan.
Home Extension Loans: This is given to home extension like addition of an extra room, etc. you need to get required approvals from related municipal corporation also.
Land Purchase Loans: This loan is useful to purchase the land for both investment purpose or for construction purpose.
Bridge Loans: This loan is provided for people who want to sell the existing house and buy the another. This will help the people till a buyer is found to buy the old house and it helps to buy new home.
Apart from these there are many other types of home loans like Balance transfer, Refinance loans, Stamp Duty loans etc.
Home Purchase Loans: Basic home loans are there for new home's purchase. Banks sanction the loan to you when you want to purchase a flat in some society or some already built house.
Home Improvement Loans: Banks sanction the loan for those houses, which are implementing repair work of house that was already purchased by you. Home needs some external works like waterproofing, structural repairs, or internal works like flooring, tilling, electrical work etc.
Home Construction Loans: These loan is useful to build a new home. There is a difference in documents submission which are needed by bank for sanctioning home construction and home purchase loan.
Home Extension Loans: This is given to home extension like addition of an extra room, etc. you need to get required approvals from related municipal corporation also.
Land Purchase Loans: This loan is useful to purchase the land for both investment purpose or for construction purpose.
Bridge Loans: This loan is provided for people who want to sell the existing house and buy the another. This will help the people till a buyer is found to buy the old house and it helps to buy new home.
Apart from these there are many other types of home loans like Balance transfer, Refinance loans, Stamp Duty loans etc.
