{"id":275,"date":"2016-12-06T06:40:04","date_gmt":"2016-12-06T06:40:04","guid":{"rendered":"https:\/\/homefirstindia.com\/?post_type=article&#038;p=275"},"modified":"2024-06-28T14:04:17","modified_gmt":"2024-06-28T14:04:17","slug":"types-loans-available-hffc","status":"publish","type":"article","link":"https:\/\/homefirstindia.com\/te\/blog\/article\/types-loans-available-hffc\/","title":{"rendered":"Types of Loans Available With HomeFirst"},"content":{"rendered":"<h3 style=\"text-align: center;\"><strong> Home Loans- All you need to know <\/strong><\/h3>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"size-medium wp-image-5319 aligncenter\" src=\"https:\/\/red.homefirstindia.com\/blog\/wp-content\/uploads\/2024\/01\/types-loans-available-hffc-300x169.png\" alt=\"home loan available\" width=\"300\" height=\"169\" srcset=\"https:\/\/homefirstindia.com\/blog\/wp-content\/uploads\/2024\/01\/types-loans-available-hffc-300x169.png 300w, https:\/\/homefirstindia.com\/blog\/wp-content\/uploads\/2024\/01\/types-loans-available-hffc.png 397w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Having a place of your own to call home has always been a top goal for you. Isn\u2019t it? Well, what if we can say your priority can soon be a reality. You can always get your dream home within your budget because home loans or house loans are there to your rescue. And wait, with Home First, you can not just get a loan for buying a home but also constructing home on your own plot, renovation and extension of existing structure and so on. Well, good news is HomeFirst finances loans for all Indians and NRIs home loans.<\/span><\/p>\n<h4 style=\"text-align: justify;\"><b>Check out home loan details available in India, especially with HomeFirst\u00a0<\/b><\/h4>\n<ul>\n<li><b>Home Loan\/ Flat Loan\/ House Loan<\/b><\/li>\n<\/ul>\n<p>The most common of all home loan types to purchase a home or a flat. We finance these loans where you can borrow money to buy a home of your choice. With HomeFirst, you can get these loans approved in just 48 hours. With HomeFirst, you can put up a home<a href=\"https:\/\/customers.homefirstindia.com\/selfOnBoarding\/loanDetail\"> loan application online <\/a>and get a seamless digitized experience. You can get up to 90% of the market value of your home and tenure can be as long as 25 years.<\/p>\n<ul>\n<li><b>Construction Loan<\/b><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">If you already own a piece of land and you want to build a home on that land, but you need money to pay for the building of the house, a construction loan might be right for you. This is currently our most preferred option. HomeFirst provides you with the option to get up to 80-85% of the amount funded. You also have the option of <\/span><a href=\"https:\/\/customers.homefirstindia.com\/selfOnBoarding\/loanDetail\"><span style=\"font-weight: 400;\">applying for construction loans online<\/span><\/a><span style=\"font-weight: 400;\">. Submit an online application for a construction loan, and after we have reviewed the paperwork relating to the property, we will get back to you with some good news.<\/span><\/p>\n<ul>\n<li><b>Home renovation, expansion and extension Loan<\/b><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Wanna add an extra room or floor to your existing home or renovate it with going trends? These home loans help you to accommodate your growing needs. HomeFirst is again there for you! We provide you a loan with an amount as small as 5 lakhs.\u00a0<\/span><\/p>\n<ul>\n<li><b>Balance Transfer Loan<\/b><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">They are often called BT loans. If you are in any way unhappy with your current lender\u2019s service, you can always switch to us and we will be more than happy to serve you. We promise to serve you the best possible interest rates, loan tenure, and easy switching. HomeFirst can also add an extra amount to your existing loan in case of need or if the property value has increased and further cases.<\/span><\/p>\n<ul>\n<li><b>Shop Loan<\/b><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">If you want a loan for a shop purchase or shop expansion, HomeFirst finances these commercial loans for small business persons to either start or expand your business.<\/span><\/p>\n<h3 style=\"text-align: justify;\"><b>Advantages of Home Loan<\/b><\/h3>\n<ul>\n<li><b>Income Tax Benefit on Home Loan<\/b><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The most important benefit of a home loan is income tax deductions. The government has different sections under the Income Tax, where they provide deductions.<\/span><\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td><span style=\"font-weight: 400;\"><strong>Income Tax Amount\u00a0\u00a0<\/strong><\/span><\/td>\n<td><span style=\"font-weight: 400;\"><strong>\u00a0Maximum Deductible Amount\u00a0\u00a0<\/strong><\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Section 24<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u00a0\u20b92 lakhs per annum (interest repayment)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Section 80C<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u00a0\u20b91.5 lakhs per annum (on principal repayment)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Section 80EE<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u00a0\u20b950 thousand per annum<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul>\n<li style=\"text-align: justify;\"><b>No prepayment charges<\/b><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">HomeFirst normally does not impose prepayment fees if you decide to pay off your loan before the agreed-upon duration, which is another benefit of a home loan or construction loan.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">In fact, we have an option of auto prepayment which helps you pay off your loan according to your customisation. You can also have a look at our <\/span><a href=\"https:\/\/homefirstindia.com\/home-loan-emi-calculator\/\"><span style=\"font-weight: 400;\">Home Loan EMI calculator<\/span><span style=\"font-weight: 400;\">.\u00a0<\/span><\/a><\/p>\n<ul>\n<li><b>Flexible Interest Rates and Tenure<\/b><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">HomeFirst provides you with the option to choose the tenure of the home loan and accordingly, the interest rates are determined. The interest rates depend on a number of factors like the amount and tenure of the loan, credit risk associated with it, and so on. Accordingly, your interest rate will be proposed to you.\u00a0\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">If you are looking for home loans, flat loans, construction loans, shop loans, commercial loans, or any kind of housing loan, HomeFirst is there for you. This guide to home loans is there to familiarize you with all the basic terms and advantages associated with loans. With us, you can experience a fully digitized experience from<\/span><a href=\"https:\/\/customers.homefirstindia.com\/selfOnBoarding\/loanDetail\"><span style=\"font-weight: 400;\"> loan application<\/span><\/a><span style=\"font-weight: 400;\"> to closure. Apply for the same through the<\/span><a href=\"https:\/\/customers.homefirstindia.com\/selfOnBoarding\/loanDetail\"><span style=\"font-weight: 400;\"> link here<\/span><\/a><span style=\"font-weight: 400;\"> and contact us on our <\/span><span style=\"font-weight: 400;\">toll-free number<\/span><span style=\"font-weight: 400;\"> &#8211; 08880649911 for any kind of assistance. In case of offline &#8211; assistance, find the nearest <a href=\"https:\/\/homefirstindia.com\/contact\/#request-callback\">branch<\/a><\/span><span style=\"font-weight: 400;\"> here<\/span><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p>Share this article on <em><strong><a href=\"https:\/\/api.whatsapp.com\/send?text=https:\/\/homefirstindia.com\/article\/types-loans-available-hffc\/\">WhatsApp<\/a>.<\/strong><\/em><\/p>\n<p><strong>Also read:<\/strong><\/p>\n<ul class=\"article-category-list list-unstyled\">\n<li>\n<h4><strong><a href=\"https:\/\/homefirstindia.com\/article\/documents-needed-loan-application\/\">Documents Required for a Loan Application<\/a><\/strong><\/h4>\n<\/li>\n<li>\n<h4><strong><a href=\"https:\/\/homefirstindia.com\/article\/process-fees-schedule\/\">HomeFirst Finance Company Housing Loan Processing Fees Schedule<\/a><\/strong><\/h4>\n<\/li>\n<li>\n<h4><strong><a href=\"https:\/\/homefirstindia.com\/article\/top-up-loan\/\">Home Loan Top Up<\/a><\/strong><\/h4>\n<\/li>\n<li>\n<h4><strong><a href=\"https:\/\/homefirstindia.com\/article\/how-much-home-loan-can-i-get-on-my-salary\/\">How Much Home Loan Can I Get on My Salary?<\/a><\/strong><\/h4>\n<\/li>\n<li>\n<h4><strong><a href=\"https:\/\/homefirstindia.com\/article\/tax-benefits-on-second-home-loan\/\">Tax Benefits on Second Home Loan<\/a><\/strong><\/h4>\n<\/li>\n<\/ul>\n","protected":false},"featured_media":0,"template":"","article_category":[67],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Different types of loans available As Per Your Need | HFFC<\/title>\n<meta name=\"description\" content=\"We have a wide variety of Home Loan products available for our customers, depending on their unique needs. 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