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Types of home loans: #1 Land purchase loan

Saturday, September 16, 2017, 10:18 AM

Land-purchase loans are given by banks or non-banking financial companies (NBFCs) to buy a plot or land on which the loan applicant is looking to construct a house. Generally banks lend up to 80-85% of the price of the plot or land. Bank checks property documents before sanctioning the loan.
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