You are planning to own your home and build house for your dream house. With the right financial assistance, these dreams can become a reality. Policy Mutual Fund offers a range of home loan and construction loan services that make home ownership and construction more accessible. So let’s explore how these loan services can help you finance your home and construction projects while you discuss your benefits, features, or eligibility criteria for these loans. 

What Are Home Loans and Construction Loans?

Before diving into the specifics of Policy Mutual Fund’s offerings, let’s understand two types of loans that can help you fulfill your home-specific aspirations

• Home Loans: A loan is typically secured against the property means the lender holds an interest in the property until the loan is fully paid. This loan is usually secured against property, and the lender holds an interest in the property until the loan is fully paid  

• Construction Loans: The construction loan is a short term loan for finances and building renovation for a property. unlike a home loan, which is used to purchase an already built home. A construction loan provides funds for the construction phase. It is usually disbursed in stages of the progress of construction work.

Both were types of loans that help to achieve their home ownership and build their goals, but it’s choice the right loan is settling. 

Policy Mutual Fund’s Home Loan Services 

Policy Mutual Fund’s best home loan services are designed the offer financial support to those looking to buy a new home or refinance their existing property. These loans are available at competitive interest rates with flexible repayment options. Whether you’re a first-time home buyer or an experienced investor, Policy Mutual Fund offers a variety of home loan products that suit your necessitates.

Benefits of Home Loans with Policy Mutual Fund:

• Affordable Interest Rates: At competitive prices to ensure you save more on your loan repayment
• Flexible Loan Tenure: Select a loan tenure that fits in your financial situation, with longer tenures that allow for the lower monthly payments, while shorter tenures that help you reduce overall interest paid.
• Instant Paynment: Once your loan was approved after the funds was disbursed promptly to ensure that you can move ahead from your home purchase without delay. 
• Tax Benefits: You can claim your tax deductions both principals with interest payments under the Section 80C and Sction 24 of Income Tax Act.
• Flexible Repayment Systems Plans: The most suitable plan for repayment systems options is based on your income and lifestyle. 

Eligibility Criteria for Home Loans: 

• Income: Consistent Income from employment or a business is necessary to prove repayment capability. 
• Property Type: The property being financed must meet certain requirements as defined by the lender 

Policy Mutual Fund’s Construction Loan Services

Construction loans from Policy Mutual Fund are tailored to assist you in building your dream home. Whether it’s a custom-built house or a major renovation project, a construction loan provides you with the necessary funds to finance the entire construction process.

Benefits of Construction Loans with Policy Mutual Fund:

• Installment Disbursement: Construction loans are paid in stages based on the construction progress that helping you to manage costs effectively.
• Customized Loan Amount: Loan amount is determined based on their total costs of construction ensuring that you receive adequate financing for the basis pf project.
• Repayment Flexibility: Similar to home loans, construction loans offer flexible repayment terms, including options for interest-only payments during the construction phase.
• Affordable Interest Rates: As with home loans, Policy Mutual Fund’s construction loans come with low-interest rates that help make your project affordable.
• Tax Benefits: Just like home loans, construction loans also offer tax deductions under applicable sections of the Income Tax Act.

Eligibility Criteria for Construction Loans:

• Construction Plans: A detailed construction plan, including the estimated cost, timeline, and materials, must be submitted.
• Income and Credit History: Applicants must demonstrate a reliable income stream and a good credit history for loan approval.
• Property Ownership: You must already own the land where the construction will take place, or the loan must be taken for a property you own.

How to Apply for Home and Construction Loans at Policy Mutual Fund

Applying for a home construction loan with Policy Mutual Fund is straightforward.Its a quick guide on how to get started:

1. Check Your Eligibility: Use eligibility criteria listed above to determine to meet your requirement for loan purpose.
2. Compliance Documents: To prepare documents such as proof of income, identity, address, CIBIL score, and property details.
3. Digitally Applying: You can apply online through Policy Mutual Fund’s website or visit your nearest branch for assistance.
4. Get an approved loan: Once your application is reviewed, you will be notified about the approval status. If approval loan will be disbursed to your account
5. Initiate the Project: Use those funds to buy your home or begin construction of your dream property 

Conclusion

Home Loans and construction loans from Policy Mutual Funds offer great opportunities for aspiring homeowners and builders with flexible repayment options and competitive interest rates. With simple application procedures, these loans provide the financial assistance that you need to bring your vision to life. 

Whether you’re buying for ready-to-move-in to move in home or constructing a property from scratch, Policy Mutual Fund ensures that you have the right tools to make your dream home to reality. Don’t let the financial barriers stop you home ownership that to explore the range of loan services available and take first step forward to secure the complete living space today.