Retail Loans
A home loan can be availed to buy a new house / flat or a site / plot of land where you construct the house. These loans are also available for expansion, renovation, extension, remodeling, and repairs to an existing house.
This is one of the common types of loan and there are several housing finance companies, public banks, private banks and NBFCs that offer housing loans with repayment over a tenure, on a monthly instalment’s basis.
Borrowers can avail up to 70%-80% of the house’s market price in the form of Home Loan. The lender will hold the house until the loan is completely repaid.
Documents Required for Verification and Processing
