housing finance types

Jun 21st, 2015
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1. Home Purchase Loans : Home purchase loans are the basic home loan you can opt for purchasing new loan. This type of Home loan is offered by all kinds of banks and HCFs.

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The National Housing Bank (NHB) is an apex level financial institution catering to the housing sector in the country. It was established on July 9, 1988. It works as a facilitator in promoting housing finance institutions or providing assistance to other institutions of such type. It is headquartered in Delhi and has offices in all the major cities of India. NHB has 9 departments which are NHB Residex Cell, Regulation and Supervision, Refinancing operations, Direct finance operations, Enabling processes, Information Technology, Resource mobilization and management, Development and risk management, Board and CMD secretariat.The 3 Main function of NHB in the housing finance business in the country are as follows:-1.Promotion and Development FunctionThe institution had been set up when regional and local level housing finance institution were nearly absent and the banking sector was not willing to do housing finance on any significant level. As a result the sector was grossly capital deficient and the housing shortage in the country was growing at an alarming level. There was a need to set up local and regional level financial institutions for supply of housing credit. NHB is of the opinion that intervention through institutional credit can be made more effective by adoption of different approaches to cater to the needs of different income groups. The households above the average income could be well served by an institution which raises resources through

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