DIfferent Types of Home Loans

1
Different Types of Home Loans
2
What is house loan??

• Acquiring a home which you can proudly call as
  your Own House is a life-time decision.
• Home Loan is offered to individuals who wish to
  purchase or construct a house. The property is
  mortgaged to the lender as a security till the
  repayment of the loan.

3
Importance of Home Loan

• The need for home loans arises not because
  property prices are heading upwards all the time
  but because home loans make great sense from a
  long-term savings perspective.
• Not only are home loans a handy tool for the
  common man to own a roof over his head but they
  also help save money in the long run.
• With skyrocketing real estate prices, people are
  increasingly opting for housing loans to acquire
  their dream home.
• Interest rates are coming 76 down all the time
  and the banks and the housing finance companies
  are literally falling over each other to lure the
  prospective home-seekers.
• Even if one can afford to buy a home with one's
  own money, home loans should be availed because
  they act as good savings instrument.

4
Types of Retail Loans

• Home Loan
• Home Loans to NRIs / PIOs
• Interest Subsidy Scheme for Housing the Urban
  Poor (ISHUP)
• Loan Against Future Rent Receivables
• Mortgage Loan
• Education Loan
• Car Loan
• Two Wheeler Loan
• Loan to Professionals
• Traders Loan
• Personal Loan
• 12. Reverse Mortgage Loan

5
Types of Home Loan

• Home Purchase Loan
• Home Improvement Loan
• Home Construction Loan
• Home Extension Loan
• Land Purchase Loan
• NRI Home Loan

6
Basic Process of Availing Home Loan in India
7
Elements to Determine Cost of the House

• Readymade Properties
• Self-Constructed Properties

8
HOME INSURANCE

• After sanctioning home loan one needs to insure
  it against future risks and perils.
• Besides natural calamities such as cyclones and
  earthquakes, man-made disasters, too, pose
  significant threats to residential properties.
• Here comes the use of home insurance policy.
• In the present time, a number of insurance
  companies and banks are coming up with attractive
  home insurance policies, which provide cover for
  the property in case of all the aforementioned
  hazards.

9

• Hope this presentation was helpful to you !!!