Types of home loans
• Home Purchase: These are the basic home loans where the purchase of a new home is financed.
• Home Improvement: These loans are given for repair work and renovations in a home that is owned by the person seeking the loan.
• Home Construction: These loans are available for the construction on purchased land
• Home Extension: These loans are extended for expanding an existing home, like addition of an extra room.
• Home Conversion: These loans are given to people who wish to purchase and move to another home for which extra funds are required. The existing loan is transferred to the new home, including the extra amount and deducting the need of pre-payment of the previous loan.
• Land Purchase: These loans are available for purchasing land for construction or investment.
• Bridge: Bridge loans are for people who plan to sell the present home and purchase another one.