Home loans make owning a home possible, whether it’s for purchasing land, constructing, or renovating a property. In this video, we’ll explore the different types of home loans and what you might need to know before applying.
We’ll discuss loan options for various needs, such as buying land, building a new house, making renovations, or extending an existing home. You’ll learn about composite home loans, which cover both land purchase and home construction within a single loan. Furthermore, you’ll get an understanding of how you could use home loan balance transfers to switch to lenders with lower interest rates.
We’ll also explain home loan basics, like the high maximum loan caps, longer repayment tenures of up to 25–30 years, and possible tax benefits. Additionally, you’ll find out how banks verify property documents during the loan process to ensure authenticity and protect you from fraud.
Finally, we’ll highlight eligibility factors, including age, income, credit score, and financial obligations, along with tips on choosing between fixed and floating interest rates.
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