Why Choose a Home Loan/What is the Purpose of Housing Loans?
You can take home loan for purchase of old or new property of residential purpose. It can be a flat, a piece of land, or any residential property. Agricultural, industrial, and commercial properties are excluded from the scheme. The housing loan can be used for home extension, construction, repair, and renovation as well. Sometimes, you want additional loan on existing loan, and opt for a top up home loan.
There are no unsecured home loans as the bank or NBFC will keep the property documents as collateral. However, you can stay in the house and use it for residential purpose even while the repayment tenure is ongoing.
Documents Needed for Home Loan :-
Financial Documents:-