Sajan Thomas

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