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Types of Home Loan

By Finserv MARKETS - Jul 6,2019
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Types of Home Loan

There are five major options when it comes to taking a home loan. They are land purchase loans, home purchase loans, home improvement loans, home construction loans, and home extension loans.

Land Purchase

This loan is suited for those who want to buy the land and start from absolute scratch.
Choosing the land comes first, then comes laying the foundation and getting to work.

Home Purchase Loans

The most common of home loans. This is ideally for the city dwellers who want to minimize the efforts and choose a readily built home.

Home Improvement Loans

Trying to redo the hall, planning to build in a modern kitchen or extending the storage space in the bedroom? Well, you can improve your home however you want to with the help of home improvement loans.

Home Construction Loans

For the closet architects who want more control of the aspects of home building. For the choosy ones who want to direct every nook and cranny and create a beautiful masterpiece they can call home, there are home construction loans.

Home Extension Loans

Extending the balcony or adding another floor to your home? It’ll be a major task with the time, the manpower and of course, the capital required, but you can have the capital taken care of with the help of home extension loans.

The saying ‘home is where the heart is’ is cliched but it also rings true. No matter what your type is, there is something for everyone. From the dreamer who wants the most beautiful home to the realist who wants to make the best out of what they possess, there is an option they all can choose. So what is your type and what type of home loan will you choose?


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