Home improvement loans are a special facility that many home loan lenders offer. As a borrower, you can borrow money from a lender to make improvement or additions to your home. These can help you increase the value of your home, apart from providing cosmetic and superficial improvements to the house.
These loans are available to both salaried and self-employed people, and are available for a property that is owned by the borrower. You cannot take a loan to improve a property that you are renting.
If you already have a home loan with a lender, you might be better off going to the same lender for a home improvement loan, rather than approaching a new lender.
Please keep in mind that the tax treatment for home improvement loans is different from that of a home loan. You must be the owner of the house for which you are taking a loan, to avail of the tax benefits. It cannot be in the name of a relative of yours, or rented property.
This message was edited 1 time. Last update was at 05/03/2010 13:12:38
Many financing company provide home improvement loans at same interest rate and as they offering the home improvement loans, home renovation loans, home construction loans, home extention loans and home brige loans. various indian companies provided home loans are: indian home improvement loans, indian house improvement loans, home improvement financing in india and house improvement financing in india.
This message was edited 1 time. Last update was at 17/03/2010 16:07:55
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