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…