Composite Home Loan
Build Your dream house with a Nivara Composite Home loan
Build Your dream house with a Nivara Composite Home loan
Get the Best Composite Home Loan in Bangalore with Nivara Home Finance
The thought of building your own home can be exciting. You can plan and design the home just the way you want to suit your preference, needs and taste in aesthetics. After all, you would want your home to reflect your personality. And, if you’re going to buy land to construct your home, applying for a composite loan can help you get the desired funds and accomplish your dream of being a homeowner.
A composite home loan differs from a land loan in that it covers both building and land expenditures. If you plan to start construction immediately, you should opt for a composite loan, but if you plan to construct later, a land loan might be a better option.
Our process is completely transparent and without any hidden charges.
Our Loan expert will provide you services right at your doorstep.
We have a wide network and are available in rural, semi-urban, and urban areas across locations.
Apply with minimal documents, save time and effort.
The composite loan limit is based on your loan repayment capacity,
It’s possible that you’ll have to pay prepayment fees if you go with a fixed interest rate, but you may not have to do so if you go with a fluctuating interest rate on your composite loan. Prepayment fees may differ from one lender to the next.
We maintain high levels of transparency in our relations with customers
To avail of a composite home loan, immediate construction is a mandatory requirement. Lenders usually want borrowers to start building within one to two years of getting a loan. If they don’t, they may have to pay higher interest rates or pay off the loan and close it.
Connect with us on Chat, Social Media anytime, anywhere
Our mission is to deliver reliable, latest news and opinions.
What is a composite loan?
Composite loan is a loan extended by banks and financial institutions for the purpose of purchasing a plot or land and constructing a house on it within a given timeline. It’s a combination of a plot loan and a construction loan. In this type of loan, the cost of both land or plot and construction of the house is covered.
What is a composite home loan scheme in Nivara Home Finance?
A composite home loan scheme is a similar housing loan that includes all components of home development, such as land purchase and construction costs. This loan is different from regular home loans because it lets you buy land and build a house within a certain amount of time.
Can we claim a composite loan?
By completing your house construction within three years, you become eligible for tax benefits on your composite loan.
What are the benefits of a composite loan?
The composite loan tax benefits include combining land and construction costs and tax incentives.
