Tag: loans

Aug 24
Differences between home loan and land loan

Loans for home and land may seem to be the same since both are part of real estate. But in financial terms, home loan and land loan differ in a few major areas.  Banks and Non-banking financial institutions (NBFCs) provide both loans. Also, despite certain differences, the rules for processing the loans are exactly the same.  Let us look at the differences now; Purpose of the property:  Home loans can be availed for houses that are ready to sale, under-construction, or approved for construction in the future. Such loans are given…