Taking a home loan nowadays has many advantages :

                Added to this, the RBI has been regularly slashing interest rates, with the result that housing finance loans that came at an interest rate of 16.5% to 18% four years ago are now available at 11.5% to 13% or lower. Each year the Finance Minister's largesse during the Budget seems to be solely concentrated for the housing sector and construction sector.

                The Budget 2000's allowed interest payment upto Rs 1 lakh and principal payment of Rs 20,000 to be exempted from income tax. To top it all, the Housing Finance Companies (HFCs) are aggressively wooing customers. When EVERYTHING seems to be on a roll, make the best of the situation.

               Home Improvement Loans:
               These loans are given for implementing repair works and renovations in a home that
               has already been purchased by you.

               Home Construction Loan:
                This loan is available for the construction of a new home.

               Home Extension Loan:
                This is given for expanding or extending an existing home. For eg: addition of an extra room

               Home Conversion Loan:
               This is available for those who have financed the present home with a home loan and wish to purchase and move to another home for which some extra funds are required. Through home conversion loan, the existing loan is transferred to the new home including the extra amount required, eliminating the need of pre-payment of the previous loan.

               Land Purchase Loans:
                This loan is available for purchase of land for both construction or investment purposes.

               Bridge Loans:
               Bridge loans are designed for people who wish to sell the existing home and purchase another one. The bridge loans help finance the new home, until a buyer is found for the home.