Sajan Thomas
Service Provider | Ernakulam, Kerala
What are the different types of Home Loans available in India?
The following types of Home Loans products are usually offered by Housing Finance Institutions: Home Loans: These are Loans availed for:
1. The purchase of a flat, row house, bungalow from private developers in approved projects;
2.Home Loans for purchase of properties from Development Authorities such as DDA, MHADA as well as Existing Co-operative Housing Societies, Apartment Owners' Association or Development Authorities settlements or privately built up homes;
3.Loans for construction on a freehold / lease hold plot or on a plot allotted by a Development Authority
Plot Purchase Loan: Plot purchase loans are availed for purchase of a plot through direct allotment or a second sale transaction as well as to transfer your existing plot purchase loan availed from another bank /financial Institution.
Balance Transfer Loan: Transferring your outstanding home loan availed from another Bank / Financial Institution to HDFC
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