Exactly exactly How is land loan distinct from house loan?

Exactly exactly How is land loan distinct from house loan?

Indian investors are typically inclined towards buying land either purely as a good investment or even for building a residence. Therefore, you may not be eligible for a home loan, but for a land loan if you are looking to buy a plot. Mortgage loans can be obtained limited to the home currently built, under construction or prone to go through construction quickly. For funding the purchase of a plot that is vacant you are going to need to go after a land loan rather. Even though the terms, prices and operations linked to land loans are much like compared to a mortgage, there are many differences that are intrinsic the 2 as outlined below:

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