Buying a flat in Kochi is a dream of many. The same goes for buying a villa or apartment in Kochi. This is because of the endless exposures Kochi offers to the people. One can easily fall in love with Kochi. The primary factor to consider while buying properties or houses in  Kochi is finance. There are many loan facilities available while buying a property now. We have listed a few home loans for your information.
The different types of home loans include:

Home purchase loans
Home purchase loans or home loans are the loans that are offered to people for purchasing a new home or even a pre-owned home. Different reputed banks and financial societies provide different interest rates within different ranges. Some banks offer a fixed or floating interest rate, which gives us the flexibility to choose based on your regular and fluctuating income sources.

NRI home loans
NRI Home loans are specially designed for the Non-Resident Indians who are interested in buying their dream apartments in Kochi. NRIs who are employed abroad for more than 6 months can avail of this NRI home loan.

Balance Transfer Loans
This is also known as ‘take over loans. This loan offers the applicants the flexibility to change his/her home loan from one bank to another according to their interests. This can be due to many reasons which include dissatisfaction with the current loan provider, lower interest rates or services by other banks, etc.

Home improvement loans
Home improvement, also termed as renovation loans are availed by those who already own a house, but require extra funds for other interior and exterior renovations that include  repair works  internal and external painting, electrical work, water-proofing, etc.,

Home construction loans
This type of loan is for applicants who want to construct a house on a plot owned or co-owned by them. Home construction loans are approved based on a rough estimate of your building construction cost. There are certain prerequisites to get this loan approved.
The plot of land should have been bought or transferred to the applicant’s name within a year.
The documents required to be submitted for this loan include the sales deed, approved building plan, a NOC from the respective authority. Banks have the complete authority to freeze the loan amount in case of any change in the submitted plan or in case of any violation of the law.

Land purchase loans
Land Purchase loans or plot loans are offered to individuals who want to buy land or plot for particularly a residential construction.