Monday November 18, 2019
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4 Most Popular Forms of Home Loans in India

The requirement varies borrower to borrower, for example, one borrower will need loan for purchasing the home where another borrower will ask for a loan to renovate his house.

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Home loan is a thing which is required for everyone at least once in their life to fulfill the wish of owning a house.
The requirement varies borrower to borrower, for example, one borrower will need loan for purchasing the home where another borrower will ask for a loan to renovate his house. Pixabay

Home loan is a thing which is required for everyone at least once in their life to fulfill the wish of owning a house. Borrower always wishes to get the loan at less rate of interest and at the same time the company also wishes to get the profit. Now coming to the home loan there is not only one type of one form where a borrower will get a loan to purchase a home. There are other various forms of home loan where a borrower can get a loan as per their requirements. The requirement varies borrower to borrower, for example, one borrower will need loan for purchasing the home where another borrower will ask for a loan to renovate his house. In this 21st century building a home is not everybody’s piece of cake but there is always a way for a will hence home loans provide you the way to own a house.

Many people are used to considering the home loan as a loan with the help of which we can purchase a house. But let me correct you guys who have this misunderstanding. You need to know we can get the loan for various purposes. The list below will tell you the forms of home loans

  1. Land purchase loan-

A land is used as a base to build the house. It is a property where the only land is presented and not the whole house. In this case, you are taking a loan only for a land on which you are going to build your house. Land purchase loans are given by banks or non-banking companies. It is not restricted to a person that a land should use only for building a house on it, you can also purchase is an investment.

  1. Home purchase loan-

In this form of a home loan, you can actually take a loan for purchasing a well-built house. The interest rate varies company to company for this type of home loan. Axis bank home loan provides this type of home loan.

  1. Home construction loan

This type of loan is applicable where you have your land or co-owned land and on which you are going to construct the house. The loans are given for overall construction of the house and not for the land or ready-made house. The borrower needs to predetermine the cost that will need to construct a house.

Home loan is a thing which is required for everyone at least once in their life to fulfill the wish of owning a house.
Many people are used to considering the home loan as a loan with the help of which we can purchase a house. Pixabay
  1. Home extension loan

Extension basically means extend the thing which you already have. And hence increasing the area of your house is called an extension of the home. These form of the loan are provided for suck kind of extension. Most banks consider this as the home improvement loan.

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  1. Home improvement loans

Owning a home is the first step but after some years what if you want to renovate your house? For this home improvement, you have a home improvement loans at your service. This form of the home includes overall cost required to reconstruct or renovate your home

  1. Home loans for NRIs

Why only Indians??? Don’t worry if you are NRI and you want to purchase home in India. Indiabulls bank home loans makes it available for you to buy a house in India. The structure of this home loan is similar to the regular home loans but paperwork can be exhaustive.

 

 

 

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Virgin Galactic to be World’s First Publicly Traded Company

The company announced the completion of the merger on Friday

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Virgin Galactic, World, Company
Virgin Galactic revealed the arrangement with Social Capital Hedosophia in July. Wikimedia Commons

Richard Branson’s commercial human spaceflight venture Virgin Galactic is set to become the world’s first publicly traded company next week following the completion of its merger with venture capitalist Chamath Palihapitiya’s Social Capital Hedosophia.

The resulting company is named Virgin Galactic Holdings (VGH) and its common stock, units and warrants are expected to commence trading on the New York Stock Exchange on October 28.

Virgin Galactic revealed the arrangement with Social Capital Hedosophia in July. The company announced the completion of the merger on Friday.

Virgin Galactic already has customer reservations from more than 600 people in 60 countries representing approximately $80 million in total collected deposits, and over $120 million of potential revenue.

Virgin Galactic, World, Company
The resulting company is named Virgin Galactic Holdings (VGH) and its common stock, units and warrants are expected to commence trading on the New York Stock Exchange on October 28. Wikimedia Commons

“Today is the start of a new era for the human spaceflight industry. VG has already pioneered several important space milestones, including sending the first test passenger to space onboard a commercial vehicle, and today’s announcement is no different,” George Whitesides, Cheif Executive Officer (CEO) at Virgin Galactic Holdings, said in a statement.

“Now that VG is a publicly traded firm, anyone can invest in a human spaceflight company that is striving to truly transform the market and be part of the excitement of the commercial space industry,” Whitesides said.

As a result of this transaction, Virgin Galactic has received over $450 million of primary proceeds and at market close on Friday, the business has a market capitalisation of $2.3 billion.

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Virgin Galactic earlier this month unveiled the spacesuits its paying passengers will wear on space tourism, which are expected to commence in 2020. (IANS)