04 July 2011
Home Loans for Farmers
Though there are many lenders available for offering home loans hardly does anybody consider the other categories who do no fall into the general terms for home loans. The self employed are always considered critically for approval of loans. With requirements of identity proofs till salary proofs all documents are scrutinized with an eye glass by the lenders. Can a farmer apply for a home loan and how do they go about it will be discussed in this post.
Considering foreign countries who have many opportunities for agricultural farmers here in India there are still less opportunities. The UK and Australia have very good offers and loans for farmers as well as other categories for loans. The Governments of many foreign countries support such people with extra funds, concessions and monthly allowances with which they can get a home of their own. One can enquire in their state or country what rules apply and about the procedures for application of home loans.
There may not be so many facilities in India for farmers but due to awareness and government rules every bank has made facilities for loans for farmers. With so many schemes of low cost housing every individual can select the options of loan they can get and from the right lender. In Australia the farmers can avail loans in terms for home purchase, land purchase, renovation of home loan and loan for building a new home. With many options they can get home loans for various purposes. The Government of Australia also offer monthly payments non employed and they can also use this money for repayment of their loan.
There are many financial advisors and financial consultants in foreign countries as well as in India who can guide the farmers and help in correct financial planning for farmers.