Group Home Loans
Home loans for good individuals who are great as a group.
What does an HomeFirst grupee loan offer you and your friends?
Discounts on ROI
Every 2 years of regular repayment, each group member gets a rate cut!
A sense of community and commitment
Groups of between 3 to 5 members can avail of loans together and be of support to each other.
Your neighbours are your friends
Grupee loans are for homes in the same project. #DostNextDoor
Apply for Group Home Loans
|Occupation Type||Floating||One-time Processing Fee|
|Salaried||13.90%||15.90%||Rs 9,990 to Rs 21,990 + GST*|
|Self-Employed||14.90%||16.90%||Rs 11,990 to Rs 23,990 + GST*|
Additional fees such as stamp duty, e-filing charges, CERSAI filing charges, and other statutory dues applicable on the Memorandum of Equitable Mortgage may vary depending on the location, and will be charged in addition to processing fees. If you opt for a fixed rate of interest, please add 2% to the rates mentioned above.
*GST @ 18.00%
Loans are available to all salaried and self-employed professionals. Find your eligibility with our handy calculator.Calculate my eligibility
Group Home Loans are meant for friends who plan to live next to each other. A group of 3-5 friends can take their home loans from HomeFirst in a group and avail various discounts and benefits. The idea is meant to foster a sense of community and commitment with your neighbors, by being a support to each other.
Each member has to provide their own documentation. A list of all that is required can be found here.
There can be a minimum of 3 members and a maximum of 5 members in each group home loan.
The interest rate is calculated taking into consideration every member of the group. Although the group applies together, each member may have a different principal borrowed amount, and thus the interest rate is calculated based on that individual member’s application.
Although this is a special product designed by HomeFirst, each member of the group is responsible for their own loan only. Therefore, like any other home loan we offer, there can be co-applicants.
Your home would be mortgaged with us a security until the complete repayment of your home loan.
Group Home Loans is a product unique to HomeFirst. Each group member will be rewarded with various discounts & benefits on taking a group home loan with us. Building communities is a founding principle of the organization, and we are one of the few companies that put our customer’s needs at the forefront of everything we do. A group home loan is one designed for friends who will become neighbors.
Group home loans are available for a maximum tenure of 25 years, just like our regular home loan products.
Tax benefits can be availed off under Sections 24 and 80C of the Income Tax Act. Please contact a tax expert or one of our relationship managers for more information.
I always wanted to buy a home for my family. HFFC gave me the confidence and the support to achieve this.