When it comes to buying a home, securing sufficient funding is an essential prerequisite. The same can be done in multiple ways listed below.

Using your own savings

The first way is to use your own savings. Assuming you have saved enough for your retirement and for this purpose, you can liquidate your savings to finance your home.

By taking a loan against mutual funds

That said, if you don’t want to use your own savings and preserve them for your retirement, you can take a loan against them. A loan against mutual funds can help you secure sufficient funding to purchase your home without liquidating your assets. Though, check your eligibility before applying for any loan against mutual funds.

Using a home loan

The usual approach: take a home loan from any bank or NBFC to finance the purchase of your new home. The process to avail a home loan is very simple and you can get that easily from internet.

Utilizing personal loans

Taking a personal loan can be a good way to finance your home purchase, the interest rates would be on a higher side. Plus, you won’t be able to borrow much from this scheme since it’s unsecured in nature, and no lender would a high amount application owing to higher risk. That said, you can utilize personal loan to secure money for downpayment.

Taking a loan against property

Lastly, you can also take a loan against property and use the borrowed capital for funding your home purchase.

Know more in detail here, about the funds for your new house: 4 Ways Through Which you can Raise Funds to Buy a New House