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How is land loan not the same as house loan?

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Indian investors are typically inclined towards buying land either purely as a good investment and for building a home.

Therefore, if you should be thinking of buying a plot, may very well not qualify for a mortgage loan, but also for a land loan. Mortgages can be found just for the is cashnetusa legal home currently built, under construction or expected to undergo construction quickly. For funding the purchase of the plot that is vacant you’re going to need to opt for a land loan alternatively. Even though terms, prices and operations pertaining to land loans are just like compared to a mortgage, you can find intrinsic differences when considering the 2 as outlined below:

Property venue and Type: Unlike mortgage loans that are available on all properties aside from their location or kind, you can find a land loan just for a domestic plot. Continue Reading →