Own your Dream Home, Own a Home Owner Loan

by : Angelo Drew

Planning for a villa at the sea side, looking for a sweet home at the country side or want to own a farmhouse in the valley? Your options are now open. Home owner loans are available at your doorsteps. Things were not as simple as that a few years back. Customers had to brain storm over the options to convert the home dreams into a reality. But today, with the availability of innumerous loan options in the financial market, customers can breathe a sign of relief.

What is a Home Owner Loan?

Home owner loans are another type of secured loan, where the lender is supporting the customer in owning homes of his choice by providing financial security for a fixed period of time. It should not be considered as the original mortgage, but should be treated as an additional loan that permits the customer in purchasing money based on the equity of the home. It is usually found that obtaining of such a loan is easier than a regular mortgage and often it is processed much quickly. It is also noteworthy that the interest rates and terms dictated by the home owner loans are much attractive than unsecured loans. Thanks to the home kept as security.

Availing the Loan Amount

The lender will work along with the customer in determining the amount that could be taken as loan. The value of the house, outstanding mortgage, the debt carried by the customer, all will be taken into account while deciding on the loan amount. Most lenders will be prepared to lend a particular percentage of total value of the house, with some even going to 125% of the total value.


Homeowner Loans are advantageous in many ways, as there is no specific control over the usage of loan amount. The amount taken as loan can be utilised for any purpose according to the wish of the customer. But care should be taken not to keep your house at risk by spending without any account.

Time passed of the older days of brooding over the dreams of home and seaside villas. Time has come to own one. Be progressive and realist by going for home owner loans.