
Home Loan Balance Transfer
We will lift your loan burden.
Why is transferring your loan to HomeFirst a good idea?
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Loans at your convenience
Our relationship managers visit you, at your convenience, for meetings. Say goodbye to unnecessary trips and paperwork.
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Transparent Interactions
We maintain high levels of transparency in our relations with customers
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Minimal Documentation
When you apply for a loan against property, you won’t have to fill out a huge amount of paperwork. You only need to submit basic documentation, which saves time and expedites verification.
Interest Rates
Occupation Type | Floating | Login Fees | |
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Minimum | Maximum | ||
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%
Eligibility
Loans are available to all salaried professionals, regardless of their income. Find your eligibility with our handy calculator.
Calculate my eligibility
FAQ’s
If you have an existing loan, and you are finding it difficult to deal with your loan provider, HomeFirst will take on that loan for you. We offer clear and transparent terms to transfer the loans to us and guarantee to reduce any hassle you are facing considerably.
We have compiled a complete list of documents necessary for an HomeFirst home loan application. The schedule can be found here. For balance transfers, we would also require all documents and details of the existing loan.
When your existing loan provider becomes inconvenient, that’s a great time to consider shifting to HomeFirst. We promise to put your needs first always.
That depends on what your existing loan is like. What HomeFirst can promise to save you is time, effort, and hassle with managing your loan.
On our side, HomeFirst usually takes 48 hours to approve loans, once we receive all the required documents. However, this is also largely dependent on the cooperation of your previous loan provider.
Essentially a balance transfer for a home loan means that HomeFirst will be paying off your existing loan and issuing you a new loan under our interest rate structure. A relationship manager will be in touch once you apply and be able to guide you further on our rates of interest.
The EMI amount is arrived at by taking the principal amount borrowed, and adding the interest amount due over a reducing balance. It is then payable every month for the tenure of the loan.
At the time of your loan approval, you are required to fill out an ACH form, to allow the EMIs to be directly deducted from your bank account at a fixed time every month. All you need to do is ensure that your account has sufficient balance, and we will take care of the rest.
We charge have processing fees, as we have with our other products. There are no hidden fees with HomeFirst, and everything is clearly communicated and transparent from the get-go.
Your credit score reflects all existing loans, but the credit score is mainly affected by your repayment behavior and history. Transferring your existing loan to HomeFirst should not affect your credit score.
Let us shoulder your burden too.