8. Stamp Duty Loans

Stamp duty loans are availed to pay off the stamp duty charges on the purchase of a property. Do not forget, the amount for this loan is meant exclusively for this purpose. This variant of home loans has yet not gained much popularity.

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9. Bridged Loans

‘Bridge loans’ is the less commonly heard home loan segment, these are infact the short term loans which are meant for individuals who already own a residential property but are planning to purchase a new house. These home loans are designed to helps borrowers to finance the purchase of the new house until a buyer is identified for the old house.

As previously said it is a short term loan, it extends for a period of less than two years and requires the mortgage of the new house with the lender. Some banks offering this type of loan are Vijaya Bank, HDFC Bank etc.

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