Home First Finance Company Home Loan
Home First Finance Company Home Loan is an ideal solution for people looking to purchase a home. With competitive interest rates and flexible repayment plans, getting the financing you need is easy. Our loan specialists are available to answer any questions and guide you through the process from start to finish. We also offer various mortgage options, including fixed-rate, adjustable-rate mortgages, and jumbo loans. So whether you're a first-time homebuyer or an experienced investor, Home First Finance Company provides their customers with ideal home loan options.
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Features & Benefits of Home First Finance Company Home Loan
The benefits and benefits of the Home First Finance Company home loans are given below:
- Firstly, borrowers can apply for Home First Finance Company home loan with low-interest rates
- The financial organization offers low processing fees
- The whole process needs Less paperwork
- There are no prepayment penalties, so you don’t have to worry about it
- No administrative charges or hidden costs
- Balance loan transfer for houses
Here’s a detailed narration considering the different features:
You can get a financial facility of around 90% of total property cost that also includes the registration charges, parking charges, and other charges. So, that means that you can purchase your house by playing 10% of its total value. It includes loan amounts for below Rs. 20 lakhs.
The financial organization offers the build-up down payment service, with which you may overcome circumstances of shortage of amounts. You will be able to book the house by paying the down payment in small amounts (some in the beginning, while the balance can be paid later on).
When you fall short of funds and you can’t repay the loan amount monthly, you can choose the consider a Loan enhancement facility. The financial firm offers this scheme in order to increase the loan amount with the required amount only.
In addition, when you find that the property prices get escalated because of the inclusion of parking lots or some other costs, you can simply consult the professionals of Home First Finance Company for fund arrangements.
Now, you get the flexibility of cutting down your extended tenure to repay the EMIs smoothly. With the auto pre-pay services, you will be able to save on around 63 EMIs. The only thing is to ensure that you make an additional payment of Rs. 1000 each month towards the home loan. That will make considerable savings in the interest outflow. Nonetheless, the account gets debited by 1K per month. That gets adjusted against the principal outstanding, thereby minimising the loan tenure.
With seamless and easy documentation, the loan-sanctioning process rather gets simplified. You don’t have to get involved in tedious documentation procedures. All you need is to go through a swift and simple method of HFFC to arrange the documents that require proof of one’s identity, income bank statements, address, and a photo. These documents will make your way for completing with maximum formalities.
External Agents aren’t involved
You don’t have to deal with sales agents or verification executives. HFFC allows you for a simple process and sanctions the home loan by managing the process swiftly.
These are different types of loans that the firm offers. The post has categorized the types in the given narration:
For Salaried employees
This loan is exclusively for salaried employees. A maximum loan of 90% may get provided for a housing loan with a tenure that ranges to 25 years. This feature also facilitates prepayments besides the EMI that does not come with any prepayment charge for the existing customers. The minimum interest rate is 8%, while the maximum is 18%.
Made for self-employed persons, individuals having irregular income may not be able to avail of the loan. You can get this loan with an interest rate ranging between 8% and 22%.
Loan for construction
Applicants can apply for a loan for construction to build their homes. The financial institution offers the loan within 48 hours.
Loan for Home Improvement
With the home renovation or improvement loan provided by Home First Finance Company, people can think of renovating their house according to their requirements.
Home extension loan
Home First Finance Company provides home extension loans made for people who want to create an additional room or even flooring within a residential property.
Home First Finance Company Home Loan Overview
Home First Finance Company is a recognizable housing finance institute that offers property loans for ready-to-move and construction purchases of houses. It also aims at simplifying the homeowners’ requirements for home renovations. The house loans help consumers from different income groups to build or purchase their homes.
Today, the company operates and offers different home loan types to suit individual consumer Home First Finance Company home loan requirements. If you want to apply for Home First Finance Company home loan, read on and learn further.
Documents Required for Self-employed Individuals
Here are the documents required for the loan:
For identity proof, one can select any of these:
|Identity Card by the Employer
For address proof, anyone:
For Income Proof
For the salaried individuals:
|Last three months Salary Slip
|Form 16 (of last year)
For the self-employed people:
|Bank statement of last 6 months
|Balance sheet and P&L for latest three years Or Business proof of last three years
How does the EMI calculation work for Home First Finance Company Home Loan?
To determine the home loan eligibility, the applicants need to use the Home Loan EMI Calculator of the Home First Finance Company that requires entering the following details:
- The net monthly income
- The existing EMIs (if any)
- Number of family members
- Co-applicant’s Monthly Income
- Co-applicant’s existing EMIs (if any)
- Housing loan’s rate of interest
- Tenure of the Housing Loan calculated in months
Upon submitting these details, applicants will understand whether they are eligible to get the home loan from the company or not.
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Home First Finance Company's Other Products
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- Hero FinCorp Home Loan
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- karnataka bank Home Loan
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Mutual Fund Scheme
Gold & Silver Rate
From refinancing to reducing your interest, we have the answers right here.
Is a Home Loan Tax-Saving Deduction?
Under Section 80C, a home loan principal falls under the income tax act. This section clearly states that individuals get entitled to tax deductions on amounts paid as repayments of principal components on housing loans.
What is The Minimum Salary For A Home Loan?
The Home First Finance Company does not limit applicants with salary requirements. But if the applicant is unable to pay the EMIs monthly, they can get the flexibility of cutting down the extended tenure & repay EMIs via the auto pre-pay feature. They need to pay Rs. 1000 every month towards their home loan.
Can I Take Two Home Loans at a Time?
What is the maximum and minimum home loan amount I can get from Home First Finance Company?
The maximum home loan amount that an applicant can get from Home First Finance Company is Rs. 30 lakhs.
How to check Home Loan Status in Home First Finance Company?
To check the home loan status, you have to get the house loan certificate online or offline. You require installing the app & accessing the status from the Home First Finance Company official website.
Does Home First Finance Company Checks for CIBIL Score for Home Loan?
To acquire the Home First Finance Company home loan eligibility, you need to have a higher CIBIL score. The Lower CIBIL score only reduces the chance of getting approval for the home loan.
When Do Home Loan EMIs Start?
EMI will start only when the property gets completed & after the applicant takes possession of the house.
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