Home Loans have emerged as the most feasible source of financing your home purchase. This is quite evident if you look at the manifold increase in the demand for Home Loans. You can take a Home Loan as a single borrower or a Joint Home Loan as a co-borrower with your spouse, children, or parents. To meet the diverse needs of home buyers, different types of Home Loan are on offer. Listed below are the popular types of Home Loans. Home Purchasing Loan This type of loan is utilised for the purchase of a house/apartment/villa or an under-construction property. Usually banks and housing financial institutions offer loans to the extent of 80% to 85% of the property value. This type of loan offers you tax benefits as well. You can claim a deduction under section 80C in respect of the principal repayment, while the interest on the loan can be claimed under section 24 of the Income Tax Act. Land Purchasing Loan To construct house of your choice, you need land. To buy a su