Home Extension & Renovation Loan
Make some room for happiness with HomeFirst Home Extension & Renovation Loans!
Why go for an HomeFirst Home Extension & Renovation Loan?
Loans for different purposes
Building a home on your property? Or adding another floor? Whatever the reason, we give you a loan, to make your home more beautiful.
Average Turnaround Time
Get your loan approval in 48 hours!
Easy to Obtain
Home extension loan have few paperwork requirements, such as address proof, income, and employment, and a simple application process. The entire application process is available online.
|Occupation Type||Floating||Login Fees|
|Salaried||8.00%||22.00%||Rs 2,500 + GST*|
|Self-Employed||8.00%||22.00%||Rs 2,500 + 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.
*GST @ 18.00%
Loans are available to all salaried professionals. Find your eligibility with our handy calculator.Calculate my eligibility
HomeFirst home extension and renovation loan is a loan provided for making civil changes in your existing home. In simple words, it is a loan for any renovation like building a kitchen, adding an extra floor or a new room.
The purposes are listed down below:
- Building a new floor
- Adding a new room
- Repair and maintenance work
Is HomeFirst Home Extension and Renovation Loan only applicable for existing HomeFirst bank customers or even new customers are eligible to apply?
Both existing and new customers are welcome to apply for HomeFirst home extension and renovation loan.
Your eligibility is usually dependent upon your monthly income. We will try to understand your occupation, family background & end use of the loan. Instead of hassling you with a lengthy list of required documents, you just have to keep your identity proof handy and we will do a careful assessment of your income, savings, liabilities etc. At Home First we have a popular saying – “We see you, and not your documents!”
Yes, in fact you can add multiple co-applicants so that your total assessed income becomes stronger. This will not only help in processing your loan faster but also divide the burden of EMIs between various co-applicants.
Our full and final list of documentation is available in a convenient schedule here. HomeFirst understands that proof of income is not always available for self-employed customers, so we find other ways to ensure that you have a steady source of income. Apply for a loan today, and our relationship managers are sure to assist you in every way.
Processing fee ranges from – Rs.17,688 – Rs.28,308, depending on your loan amount.
After your loan gets sanctioned, you may have to pay a nominal amount towards Legal & Technical charges depending on your property type.
Usually the tenure ranges upto 20 years. However, depending on the EMI amount that you can afford every month, you have the freedom to choose your tenure. Use our handy EMI calculator for the same.
On 4th of every money the EMI amount would be debited automatically from your bank A/C. It’s mandatory that you have a functioning bank account and repayment will be routed through it.
The value of loan that we can offer a maximum of 90% of the estimated value as per Legal & Technical clearance. You can also apply for loans as low as 2 lakhs.
Monthly EMIs are your only obligation and it’s the foundation of your loan repayment. In fact, we encourage our customers to prepay their loans faster so that they can become debt-free much before than their actual tenure. Calculate how many EMIs you can save with our special Auto Prepay feature.
I always wanted to buy a home for my family. HFFC gave me the confidence and the support to achieve this.