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Under both the SAFE Act and MLOLA, a “residential mortgage loan” is similarly defined to mean any loan primarily for personal, family or household use that is secured by a mortgage, deed of trust or other equivalent consensual security interest on a dwelling or on land on which a person intends to construct a dwelling. A “dwelling” is defined as a residential structure or mobile home which contains one to four family housing units, or individual units of condominiums or cooperatives.

A commercial real estate loan is a mortgage secured by a lien on commercial property as opposed to residential property. Commercial real estate (CRE) refers to any income-producing real estate that is used for business purposes; for example, offices, retail, hotels, and apartments.

• You can avail loan for purchase of land and construction, both

• Long tenure means lower EMI’s

• You can save on rent and move into your own property

A land is a good investment which grows in value over the long-term. Hence, it gives better returns at the resale. Historically Indians have been purchasing lands or plot for various purposes predominantly as an investment.
A Land loan or plot loan as the name suggests is a loan provided by banks to borrowers for the purchase of a plot of land. The repayment is done in Equated Monthly Instalments (EMI) within a specific tenure prescribed by the bank. If you are looking for a land loan, the following information will help you choose the best lender.

A personal loan (also known as a consumer loan) describes any situation in which an individual borrows money for personal need, including making investments in a company.

• Interest-only payments

• Full or partial payments

• Equal, monthly, blended payments

• Equal, monthly payments of principal + interest

• Interest-only with periodic balloon payments

• Interest-only with one balloon payment

Commercial vehicle loans are loans offered to borrowers, usually self-employed individuals, trusts, partnership firms, organisations, etc., for the purchase of vehicles for commercial or business purposes. These Car loans are availed by those who are involved in the transportation business. A commercial vehicle loan can be used to purchase buses, trucks, tippers, tankers, light and small commercial vehicles.

• You can get a commercial vehicle loan at a low interest if your profile matches with the criteria put forward by the lenders.

• The processing time of a commercial vehicle loan is fast with easy documentation and approval.

• Most of the prominent banks in India provide commercial vehicle loans at affordable rate of interest without any security.

• Some of the banks assign a personal relationship manager from starting till procurement of the vehicle. He/she will do all documentation and address every issue related to the loan.

• Once all required documents are submitted, it takes around 7 days for the disbursal of the loan amount.