Mortgages and you will mortgage brokers, anybody often confuse both. So, in advance of we dive into electronic lender statement investigation to possess mortgage financing, let us missing specific light on which it is.

A home loan try financing you are taking so you can sometimes buy a property or to build it. The house has to be residential. The lending company otherwise bank advances you the financing necessary to buy a property, that you afterwards pay back during the differing EMI systems.

Mortgage loans is actually funds facing a property your currently very own. The property would be residential otherwise industrial. You might apply the loan number getting anything, off capital your own little one’s advanced schooling to help you broadening your online business. There are not any limitations how you may spend the money.

Additionally, anyone can bring a mortgage salaried individuals, self-working some one, an such like. (more…)