4 Housing Loan Products You Must Know About - Loan Trivia


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Monday 25 June 2018

4 Housing Loan Products You Must Know About

Just like food, air, water, and clothes; a roof over the head - a home, is also a basic necessity in life. The first few things are accessible, and somehow, almost everyone is able to manage them on a daily basis. But talking about possessing a home of your own, it’s not in our own hands and the eligibility depends on the income and liabilities of the person.

Having said that, people with a decent monthly income can realise this dream of owning a house with the help of available Housing Loan products. No! A home purchase loan is not the only option, though it is one of the most popular ones. There are other housing loan products which are equally beneficial and are easily accessible. Thus, if you feel the need, you can check the list below and opt for any fitting housing loan product you want to.

Home Purchase Loan: Home purchase loan is the most commonly availed housing loan product. Maybe because people are not cognizant of the other products, or it can be because buying an already-constructed home is much more convenient. Home purchase loan is available for any applicant having the required eligibility for the loan.

Home Construction Loan: As the name makes it very evident, home construction loan can be availed for paying the cost of constructing a new home.

Land Purchase Home Loan: a land purchase Home Loan is available for people planning to purchase a piece of land to construct a home on it.

Home Loan Balance Transfer: Home loan balance transfer is a sort of facility that allows you to switch your debt from your current lender to a new one. The same is only conducive if the new lender is offering the loan at a lower interest rate.

Reference Read:

Some Housing Loan Products Available in India! Details Here

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