The following are the different types of home loans: Home Loan to buy a property:  It is a loan availed to purchase personal or commercial property. Home Loan to purchase land and self-construction of property: It is a loan availed to buy a plot of land or to construct a property. Home Renovation Loans: This loan is availed to renovate your house, also known as home improvement loans. Home Loan Balance Transfer: It often happens that you are unsatisfied with the repayment terms, service, or interest rates that your current lender provides you. In such a scenario, you may opt for a home loan balance transfer to another bank that provides you with better terms.