Home Loans for the Self-Employed
Get a home loan easily and quickly without income proof.
Why is an HFFC home loan perfect for you?
No income proof requiredWe consider each individual's application separately. Lack of proof is no bar for a loan.
Hassle-free processLatest technology and paperless processes to make your life easier.
Auto-PrepayShave off years of EMI payments with a small increase in your monthly EMI.
|Floating||One-time Processing Fee|
|12.90%||15.00%||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 self-employed individuals with a steady source of income. Find your eligibility with our handy calculator.Calculate my eligibility
HFFC has designed this product to suit the special requirements of customers who run their own businesses, and who do not always have documented proof of income. Most financial institutions give out loans only to salaried people, but HFFC aims to change that.
HFFC has several specialized loan products, depending on the circumstances of our customers and their unique requirements. As such we are constantly innovating, and now have several varieties of home loans. You can read about all our products here.
Our only requirement from our self-employed customers is a steady source of income & good credit history to ensure that you can pay the EMI installments without an issue. We work with each customer individually to determine what the best product is for their needs, and lack of proof of income is no bar to apply for a loan for the self-employed.
Our full and final list of documentation is available in a convenient schedule here. HFFC 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.
Depending on the EMI amount that you can afford every month, a tenure is fixed for you by our relationship managers. To get an idea of what your loan with HFFC could look like, you can use our handy EMI calculator.
No, a guarantor is not required for a home loan for the self-employed.
A spouse or a blood relative can become a co-applicant for this loan. We actively encourage family members to take on the loan together.
Yes, there can be multiple applicants for a self-employed home loan.
Yes, the EMI amount can most certainly be increased. Using our auto prepay feature, we encourage our customers to increase EMI payment amounts and reduce their tenure, resulting in long-term savings for them, through a reduction in the principal amount.
At the time of loan approval, the HFFC relationship manager will work out an EMI amount that will be deducted from your bank account on a fixed day every month. You can increase the EMI amount with our auto prepay feature, which will reduce your loan principal and the tenure of your loan, while create long-term savings for you.
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.
No, there are no charges if you choose to prepay some or all of your loan. Not only has RBI removed prepayment charges on loans, but HFFC also supports and encourages our customers to prepay their loans, so as to save in the long-term.
Home loans are deductible under Section 24 and 80C of the Income Tax Act. For more information, contact your relationship manager, or consult with a tax expert.
We do consult credit scores, but each of our customer applications are handled individually and personally. So long as we can be assured that you will be able to pay the EMIs regularly, we encourage you to apply for a home loan with us. The advantage of dealing with HFFC is that we consider each applicant personally, and not the basis of numbers alone.