In India most of the people are depends home loan for built or buy home. But peoples are not aware about different type of available loan. So this article will help those who are looking for built or buy apartments or flats in Calicut or other purpose.
Types of Home loan available in India
Home Purchase Loan:
Everyone is aware of about this loan it is most common loan available in market. This is the loan for buy a new home or flat etc. Interest rate of this loan is either fixed or floating type. The interest rate will be bit higher compared to floating rate of interest.
Home Construction Loan:
You need to apply for this loan have own land and Planning to build a house. Have little different such as period of repayment, processing fee and other charges compared to other home loans.
Home Expansion Loan:
If you want to add a room to your house, want to build additional floor or other any expansion plan in home. You can get this loan. Amount of this loan might be less than Home Purchase Loan. So should check about this loan before you start Expansion plan for the home.
Refinance Home Loans:
Want to switch to another loan because the rate of interest is higher for a home loan, then this is the best option. It is also good for one who wants to reduce the risk from an adjustable-rate by switching to a fixed-rate loan.
Home Conversion Loan:
When you decide to sell the existing home and move on better home with all luxuries. Then this loan will help you change your home without apply new loan. The exiting loan will be transferred without the prepayment hassles.
Property Loans:
When you need cash to fulfil some commitment, Then you can take Property Loan by mortgage commercial property or residential. That time you must sign a declaration that the fund will not be used for illegal activities and for other purpose.
NRI Home Loan:
If you have NRI account. The banks are providing home loans to them. The process is bit complicated.
Bridge Loan:
This is a type of loan to fill the short temporary financial gap. For example, when you plan to buy a new house and need time to sell off the old house, then this loan help us. But the time period of this loan is short and the interest of this loan go high.
Looking for home loan for buying flats and apartments in Calicut don’t worry. Ladder Kerala Offers Flats and apartments at easy home loan availability.
More updates Visit our website: http://ladderkerala.com/
Please Touch With Us: +91 9400470022
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