Sukra - Personal Finance

Home Loan Types

There are different types of Home Loans available.

Home Purchase Loans -
Home Purchase loan is used to buy a new or used property.

Home Improvement Loans -
Home Improvement loan is used to improve your home. Purpose of loan is to finance External and Internal Repairs, renovation and any additional construction. They are also called as Home Extension Loans

Home Equity Loans -
Home Equity Loans can be used for any purpose like wedding, education etc.

Bridge Loans -
Bridge loans are designed for people who wish to sell the existing home and purchase another one. The bridge loans help finance the new home, until a buyer is found for the home.

Land Purchase Loans -
Land purchase loans are used to purchase any land for construction or investment purpose.

Different banks and lending companies might offer different types of loans. Make sure you understand the difference between the loan types and decide which loan is suitable for you. Each loan type can have different conditions and interest rates.