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Interest rates and other charges depend on the products. Please refer to the individual product pages for the rates.
Your home loan will be processed in 2 steps:
- You receive the approval of your home loan.
- You sign the loan agreement papers and complete other necessary documentation. The loan amount is thereafter paid directly to the builder by HFFC.
Loan decisions are made in less than a week. You will receive an SMS on your registered mobile number as soon as we make a decision.
HFFC does not charge any prepayment fees. This applies to both partial and full repayments. In fact, we have a special Auto-Prepay feature to facilitate this process for you.
Home First offers loan tenures between 1 year to 25 years. If you opt for a longer tenure, you can get the advantage of a lower EMI each month.
Home First can provide finance up to 90% of the property value. The balance has to be arranged by you from other sources. Please note: 90% financing is only available for loans amounting to less than Rs. 30 lakhs.
All co-owners of the property have to be co-applicants to the loan. A person who is not a co-owner can also become a co-applicant to the loan.
During the construction phase, HFFC will disburse funds to the builder on your behalf. These will be based on payment requests made by the builder as per the construction schedule.
HFFC will charge interest only on the amount disbursed as loan during the construction phase. In this period, interest is charged only on the disbursed loan amount. For example, if you have a sanctioned loan of Rs 10 lakhs, but the property is under construction and we have disbursed only Rs 4 lakhs, you will be charged interest only on 4 lakhs. These interest payments are referred to as pre-EMI interest payments.
EMI payments will start only after completion of the project and registration of the property.
All cheques to HFFC should be written out in favour to ‘Home First Finance Company India Limited’.
CIBIL is a score maintained by an Indian credit information company, TransUnion CIBIL Limited. CIBIL collects and maintains records of an individual’s payments pertaining to loans and credit cards. These records are submitted to CIBIL by member banks and credit institutions, on a monthly basis. This information is then used to create Credit Information Reports (CIR) and credit scores which are provided to credit institutions in order to help evaluate and approve loan applications. CIBIL was created to play a critical role in India’s financial system, helping loan providers manage their business.
To access your CIBIL score, you need to apply for it on the CIBIL website.
In the event of an unfortunate incident, home loan insurance will help you or your family pay off the home loan. This ensures that the burden does not suddenly fall upon family members at a bad time.
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