Mortgage to own NRIs
This type of mortgage is actually specifically made getting low-resident Indians who want to pick a property in India. The applying procedure and documentation are very different regarding those of additional home loan versions for sale in Asia. Still, the dwelling on the property loan is similar.
Link Mortgage
A bridge financing are a primary-term funding solution you to definitely home owners normally acquire purchasing a the new property by offering its current one to. Somebody can be utilise the borrowed funds total funds the purchase away from the home up until they could sell the old assets. Usually, connection loans have a high-interest and just have a tenure away from under couple of years.
Mortgage Harmony Transfer
You could transfer their the equilibrium from the current lender/NBFC to another financial/NBFC that you choose. Generally speaking, your house mortgage balance transfer option is chosen when a borrower finds less interest and you may a much better finest-up studio an additional financial.
PMAY (Pradhan Mantri Awas Yojana)
Pradhan Mantri Awas Yo that have a housing for all goal. A beneficial subsidy system entitled Credit Connected Subsidy System (CLSS) premiered under that it purpose to help you acquire a subsidy with the money taken towards the pick/ construction/ extension/ upgrade out of property. Depending on that it CLSS plan, beneficiaries who would bring a home loan can acquire an enthusiastic attention subsidy doing Rs.2.67 lakh.