Is home better or Loan against property better? Are the rates of interest different?



I want to buy a 3 bedroom house and i have a old 2 bedroom house which i thought i can mortgage?Would it be better to apply for a new home loan or should i mortgage the old property?

Is home better or Loan against property better? Are the rates of interest different?
Rate these answers

4 Replies to “Is home better or Loan against property better? Are the rates of interest different?”



  1. If you mean a home loan vs. a loan for raw, unimproved property, the rates will be far better on the home loan. In fact, most banks won’t loan money for you to buy land. If you already own land, they will loan against it, but never at a rate as low as a home mortgage.


  2. You should try to mortgage your home for getting loan. Because if you mortgage your home then it will get you a secured loan and secured loans are offered with low interest rates.





Leave a Reply

Your email address will not be published. Required fields are marked *