23 jul Just just just How is land loan distinct from house loan?
Indian investors are usually inclined towards buying land either purely as a good investment and for building a residence. Therefore, you may not be eligible for a home loan, but for a land loan if you are looking to buy a plot. Mortgages can be found just for the home currently built, under construction or very likely to go through construction quickly. For funding the acquisition of a vacant plot, you are geting to need to go with a land loan rather. Even though terms, prices and processes pertaining to land loans are just like compared to a mortgage, there are many differences that are intrinsic the 2 as outlined below: