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Old 12-06-2017, 03:05 AM
capitaworld capitaworld is offline
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Join Date: Jul 2017
Posts: 15
Default Home loan Vs Loan against property

Home loans
are taken for the purpose of purchasing a residential property. The property is served as collateral as a backup security the loan. In case of non-payment of dues, the lender can sell you're the property to recover the loan amount.

Mortgage loans
are the loan where the applicant gives his/her property as a security for the mortgage. The mortgage can be land or assets (gold, securities, insurance) etc.

Loans Against Property
is given against a property given to financier as a security. It is not necessarily against a residential property. About 60% of property value can be given as loan.

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