Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Types of home loans in India-a brief overview

By Chris Luke Subscribe to RSS | May 31st 2012 | Views:
loading
 
  



Buying your dream house with a loan

Planning to buy a luxury 2BHK home but worried about high prices? Apply for a home loan now and purchase the house that you had always dreamed of. You definitely feel like buying a new house whenever a new residential project is launched. Owing a brand new house with the latest amenities and luxuries is the dream of almost every Indian. Since the last few years, due to inflation, it has become difficult for the middle and low income groups to buy a flat, row-house or even build a bungalow of their dreams. The Indian banking sector with its innovative loan products helps people buy the home of their choice.

Inflation has not stopped builders from constructing amenity-featured, luxurious residential properties. As the per capita income and financial positions of the residents is fast improving, they are able to invest in new properties. Some people purchase a new house as investment while most others buy them to fulfill their basic needs of owning a place to live.

Types of home loans in India

Over the past few years, to suit different lifestyle needs and home-purchase requirements of residents, the banking sector have come up with different types of home loans in India. Some of the popular home loans offered by the banks in India include home loan, home construction loan, home improvement loan, land purchase loan and home extension loan.

• Home loan-A loan of up to 80% of property is given by the bank to people who want to buy a new home.

• Home improvement loan-A loan of up to 85% of the cost of renovation is given by the bank to the Indians who want to renovate their house or undertake repairs.

• Home extension loan-A loan of up to 85% of the cost of extension is given by the bank to residents who want to expand their existing homes.

• Land purchase loan-A loan of up to 80% of the cost of new land is financed by the bank for residents who want to buy a new land. The land might be bought just as an investment or for constructing a new house.

• Home conversion loan-A unique loan is offered by the Indian bank to residents who want to purchase a second home.

Applying for a home loan online

To simplify the process of applying for a loan, banks offer all types of home loans in India through their websites. Applying for a home loan online is simple due to the following reasons:

• You have information about all kinds of loans available at your finger tips

• Comparing the features of home loan products is simple

• Applying for a suitable loan and submission of required documents is simplified with hassle free procedures

• Loan approval is fast

• Sharing personal data while applying for a home loan is safe and secured at the banks website

Chris Luke - About Author:
If you are looking for different types of home loans in India with low interest rates then I would recommend you to opt for HDFC. It is a leading housing finance provider company in india.Compare interest rates, apply home loan online & get instant e-approval.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/loans-articles/types-of-home-loans-in-india-a-brief-overview.htm

Related Loans Articles Subscribe to RSS

Small payday loan- Impeccable fiscal solution for salaried people
Published by Abell Bush on April 13th 2012 | Loans
By acquiring quick cash through small payday loan, you can combat unforeseen financial trauma with e...
 
Payday loans by phone- Unique cash loan available to help American
Published by Alesia Ace on May 1st 2012 | Loans
By taking payday loans by phone, you have the right option to meet any fiscal desires without any ha...
 
Urgent loans for bad credit- Cash loan for bad credit people
Published by Vikon Nail on July 2nd 2012 | Loans
If you are availing urgent loans for bad credit, you can overcome unexpected fiscal worries with eas...
 
Payday loans with a debit card - Valuable loan for debit card holders
Published by Nain Seek on July 9th 2012 | Loans
If you are applying payday loans with a debit card, you will easily grab instant cash in order to ma...
 
Advance Cash USA - loan with unbelievable offers
Published by Carran Darnel on May 26th 2012 | Loans
By getting quick cash via Advance Cash USA, you have the provision to fight against fiscal worries w...
 
Waiting for approval of your loan? Contact Loan Officer
Published by Wills Loren on March 27th 2012 | Loans
feedbackhere.com : We provide Loan Officer Services most event planners have something directly to t...
 
Personal Unsecured Loans: Security gratis loan with passive charge
Published by Steve Matthew on February 15th 2012 | Loans
Personal Unsecured Loan present online lenders at spirited charge secondly and if you pertain to ban...
 
Personal Loan Company: Accomplish their personal requirement on rate interest loan
Published by Steve Matthew on February 3rd 2012 | Loans
Personal loans company are the most excellent resources of fulfilling the individual wants and one c...
 
Cash loans for bad credit- Get loan without using any documentation
Published by Honard Nork on June 18th 2012 | Loans
If you are having bad credit scores, it is better for you to avail cash loans for bad credit....
 
Quick cash loans- Reliable and useful loan for Australian
Published by Adinm Gaili on March 27th 2012 | Loans
If you have any credit problems, you can now apply for Quick cash loans to meet financial crisis wit...
 
Qualify for a restaurant loan with Visa/Mastercard
Published by Mathias Scott on May 14th 2012 | Loans
The restaurant business is a tough one considering the kind of competition one has. Being able to ra...
 
I need a 6 month loan- Unique form of loan for longer time period
Published by Aldis Roy on May 26th 2012 | Loans
In fact, 6 month loan is helpful for borrowers who want to use money for longer period....
 
I need a 2000 dollar loan- Grab quick cash up to $2000
Published by Kelin Smith on July 2nd 2012 | Loans
By getting 2000 dollar loan, you could easily achieve financial trauma without any hassle....
 
Text loan: Patch up Urgencies with Comfort
Published by Deniz Jared on June 6th 2012 | Loans
If you need finance at once, you can make your request for text loan to have some instant cash to pa...
 
500 fast cash - Small loan available for everyone
Published by Thomas Symends on June 19th 2012 | Loans
If you are availing 500 fast cash scheme, you will grab quick cash in order to meet cash worries. Th...
 
Direct Deposit Loans-Very valuable loan to meet cash crisis
Published by Rex Moshe on December 12th 2011 | Loans
For getting rid of any financial issues, you need to apply for direct deposit loans with simple onli...
 
Build your dream home with easy funds
Published by John Harris on January 5th 2012 | Loans
It would help you out funds if you want to build your own house. You can only repay the money after ...
 
100 payday loan- Small cash support but very valuable for all
Published by Micles Jonson on May 9th 2012 | Loans
By availing quick cash via 100 payday loan, you can overcome unexpected financial crisis with ease....
 
HDFC home loan
Published by Dialabank on April 3rd 2012 | Loans
Now a days’ getting home loan is quite an easy task. HDFC Home Loan can be home equity loan or mor...
 
Collateral loan - a rightful measure in financial disorder
Published by Malcom Baker on August 3rd 2012 | Loans
We often meet temporary financial crisis and look for sources to tide over the situation. In such ju...