Just How is land loan not the same as home loan?

Just How is land loan not the same as home loan?

Indian investors are typically inclined towards buying land either purely as a good investment or even for building a property. Therefore, if you’re thinking of buying a plot, you might not qualify for a mortgage, however for a land loan. Mortgage loans can be found just for the house already built, under construction or prone to go through construction quickly. For funding the acquisition of a vacant plot, you are going to need to opt for a land loan alternatively. Even though the terms, prices and operations linked to land loans are much like compared to a mortgage, there are numerous differences that are intrinsic the 2 as outlined below:

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