The following types of Home Loans products are usually offered by Housing Finance Institutions: Home Loans: These are Loans availed for:
1. The purchase of a flat, row house, bungalow from private developers in approved projects;
2.Home Loans for purchase of properties from Development Authorities such as DDA, MHADA as well as Existing Co-operative Housing Societies, Apartment Owners' Association or Development Authorities settlements or privately built up homes;
3.Loans for construction on a freehold / lease hold plot or on a plot allotted by a Development Authority
Plot Purchase Loan: Plot purchase loans are availed for purchase of a plot through direct allotment or a second sale transaction as well as to transfer your existing plot purchase loan availed from another bank /financial Institution.
Balance Transfer Loan: Transferring your outstanding home loan availed from another Bank / Financial Institution to HDFC is known as a balance transfer loan .
Home Improvement Loan: It is a loan for renovating(without altering the structure/carpet area) your home in many ways such as tiling ,flooring, internal / external plaster and painting etc.
Home Extension Loan: It is a loan to extend or add space to your home such as additional rooms and floors etc.
Top Up Loans: Loans that can be availed for personal and professional needs(other than for speculative purposes) like marriage, Child's education, business expansion, debt consolidation etc.
Loan against Property (LAP): It is a loan against fully constructed, freehold residential and commercial properties for: Personal and Business Needs(other than for speculative purposes) like marriage, medical expenses and child's education etc. Existing Loan Against Property(LAP) from other banks and financial institutions can also be transferred to HDFC.