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Indian investors are typically inclined towards buying land either purely as a good investment or even for building a property.
Therefore, you may not be eligible for a home loan, but for a land loan if you are looking to buy a plot. Mortgages can be obtained limited to the home currently built, under construction or more likely to go through construction quickly. For funding the purchase of the vacant plot, you will need to opt for a land loan rather. Even though the terms, rates and operations associated with land loans are much like compared 
to a mortgage loan, there are numerous differences that are intrinsic the 2 as outlined below:
Property venue and Type: Unlike mortgages that are available on all properties regardless of their location or kind, you could get a land loan just for a plot that is residential.