Housing Loans
  • Housing Loan is a loan provided to eligible borrowers by Non-Banking Financing Companies or Banks for purchasing a residential plot or land or constructing, extending, or renovating an existing house.
  • In the housing Loans scheme, the property bought is kept as a pledge, so when the borrower delays in paying the dues or has illegitimately damaged his credit score, the collateral property will be handed over to the lender.
  • Housing loans are either flexible or fixed when it comes to rates of interest and payment tenures.
  • The borrower is free to use the borrowed money on his property as he sees fit.
  • Benefits of obtaining Housing loans include easing the heavy tax burden for first-time homebuyers; Rates of Interest provided at a lower rate; prolonged tenure for repayment and so on.
1
HOME LOAN

Home Loans are availed to the borrowers for constructing, purchasing, or maintaining a newly built house.

2
MORTAGE LOAN

Mortage loans are loans availed to maintain or purchase a third-party’s house. (covering its entire cost)

3
LAP

Loan Against Property is a type of loan that is availed to a recipient by financial institutions.



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