Composite Loan Overview, Interest Rates, and Tax Benefits

Ans. A home loan is specifically for purchasing or refinancing a home, while a composite loan combines funds for both purchasing land and constructing a home on it within a specified timeframe.

Ans. By completing your house construction within three years, you become eligible for tax benefits on your composite loan.

Ans. The composite loan tax benefits include combining land and construction costs and tax incentives.

Ans. The duration of a composite loan typically ranges from 10 to 30 years.