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Do you also dream of getting that perfect little house for you and your family? Are you still confused about all your available loan options? Do people have a lot of financial advice for you, but you cannot rely on them? Then come to the financial experts themselves!
First things first, let us get the confusion out of the way. We are aware of the ongoing home loan vs. loan against property debate. Many of us also tend to use home loans and loans against property interchangeably, although they are very different.
So, home loan or loan against property – we are sure that the difference between these two types of loans is now more evident to you. If you still have confusion, we are here to resolve all those queries popping in your head!
Loan against property vs. home loan – choosing between the two has always been a tough call. So, let us delve deeper into the subject to help you make a wise choice! As different as home loans or loans against property are, so are their features and advantages. Even so, the similarity between the two is that both home loans and loans against property cover high-end expenditures.
Now, let us move forward to discuss the different factors that may influence your decision:
Must Read: A Step-By-Step Guide on Home Loan Disbursal Process
*The loan-to-value (LTV) ratio is a measure comparing the amount of your mortgage with the appraised value of the property. The higher your down payment, the lower your LTV ratio.
An interesting point to note here is that a home loan EMI calculator enables you to calculate the Easy Monthly Installments (EMI) beforehand so you can plan your loans and expenses. Check out PNB Housing’s smart home loan EMI calculator by clicking here.
Your financial requirement dictates the choice of loan you’re able to take up: home loan or loan against property. Here’s a further assessment of the similarities mentioned above for home loan vs. loan against property:
Additional Read: How to Secure a Loan against Property
All this being said, only you can choose the right fit for you according to your finances. However, we at PNB Housing are always there to guide and assist you through the nitty-gritty of the lending world. Do not hesitate to walk into your nearest PNB Housing branch or ring up the customer care line. Your financial security is our priority!
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