subject: Home Loan Information [print this page] Home Loan Information Home Loan Information
Once you decided to buy a home for yourself and your family, you will need enough finance to purchase your dream home. You may not be able to finance for new home at that moment, but there is a option of home loan to make your dreams come true. In India, many banks including public sector and private sector offering home loans that helps you to purchase your dream home.
In India, there are different types of home loans are offered to suit the heterogeneous requirements of the customer. Here is the list of most common types of home loans is given below:
Home Purchase Loans- This is the most basic types of home loan for the purchase of a new home.
Home Construction Loan- This loan is given to the construct new home.
Home Improvement Loans- Such a type of loan is given to implementing repair works or renovation of your existing home.
Home Extension Loans-These loans are given for expanding or extending your own house.
Land Purchase Loan-This loan is given to purchase the land to construct new house or investment purpose.
In the current scenario, taking home loan is very easier, because many home loan providers are in the market to offer you home loans with attractive rates and schemes. The leading name in home loan providers such as ICICI Bank, HDFC Bank, State Bank of India, Punjab National Bank, LIC Housing Finance, HSBC Bank, Axis Bank, Kotak Bank, DHFL, etc.
Home Loan is offered under fixed rate or floating rate. The interest rate is ranging from 8% to 15%. Comparing various home loan plans by different providers is the option to find best rates in the markets. Choosing a best home loan is always in your favor, otherwise, you will put a more financial burden on your shoulder.
