Home Equity Loan

Home Equity loan is basically a secured loan having you home property papers kept with the lending institutions or bank as collateral .

In India Home Equity Loan is called Loan Against Property and is different from Personal loan in the sense that Home Equity Loans have property kept as collateral and is secured. Most of the business houses or individual uses the home equity loan for there personal, business, medical or college education

Its called Home Equity Loan -- with the reason that whats the current worth of Home and equity is the difference that whats the current value of the property or home and how much mortgage have you taken against the property

Theres huge difference between home equity loan rates in India and in US . In India, home equity loan rates are substantially lower than that of Personal loan by even upto good 4-5% -- reason is risk difference between secured and unsecured lending

Good part of Home Equity loan is that in India -- interest upto 1.5 lac is tax deductible

Major Finabce Institutions are ICICI and HDFC which lends home equity loan or say Property Loan (under the Home Loan Segment)

For understanding and clarity, a home equity loan or line of credit is second charge created on property after the disbursal of Home Loan

We will soon have many articles on this blog related to Home Equity Loan, Home Loan, Loan Against Property

The blog is dedicated to next in line business which is planned of Modi Online Ventures - after foraying into Automobile to diversify to Home Loan