Home First Home Loan
Home First Finance Home Loan interest rate starts from 8.00% onwards where you can get 90% of the property cost as loan for a maximum tenure of 25 yrs. There are no processing fees and foreclosure charges for HFF home loan and also the per Lakh EMI starts from Rs 772. Enjoy a swift home loan disbursal with Home First Finance and claim your dream home today.
Apply for Home First Home Loan @ 8.00% Interest Rates
Home First Home Loan Details
Here are the highlights of Home First Home Loan:
| Loan amount | Rs.30 Lakh |
| Rate of interest | 8.00% p.a |
| Tenure | Up to 25 years |
| Lowest EMI possible | Rs. 772 Per Lakh |
| Processing fee | Nil |
Home First Finance Company offers home loans at affordable interest rates with attractive features. To avail of an HFFC home loan providing income, the proof is not mandatory, which is what makes home first home loan different from other home loans.
You can also check Home First Loan Against Property Online to avail offer.
Home First Finance Home Loan Features and Benefits
The following are the features and benefits of Home First Finance Home Loan:
- A home loan is provided for both salaried individuals and the self-employed.
- Non-Resident Indians can also apply for Home First Finance Home Loan.
- A maximum loan quantum of up to 90% of the market value of the property will be provided.
- The rate of interest will be applied in accordance with the loan amount. It ranges from 8.00% - 17.50%.
- Flexible repayment option with a maximum tenure of 25 years
- Though income proof forms a part of the documents required to be submitted, the loan sanction will be done even without income proof.
- A credit score of 750 and above is required for the loan to be approved.
- A loan will be considered even when the credit score is low by considering the other aspects like the addition of a co-applicant with a consistent income.
- The turnaround time for the loan approval will be less than 48 hours.
- Prepayments to the loan account can be done without any prepayment charges.
- A top-up to the existing home loan will be considered whenever you have additional funds requirements if the overall loan does not exceed 90% of the market value of the property. A provision for revaluation of the property at the time of applying for the top-up loan is also available.
- Door-step services will be provided. A representative of the Company will come to your doorstep to assist you with the loan application process and will coordinate with you till the disbursal of the loan.
- You will receive regular updates about the status of the loan application.
- The loan process is made totally paperless. There is a provision for online home loan applications. Soft copies of the required documents are accepted.
- There is a dedicated Home First Customer Portal to track the status of your loan application.
- There are different mobile applications for different functions like accessing the loan statement, making prepayments to the loan, and raising service requests.
Best Home Loan Interest Rates Starting @7.35%, Check EMI & Apply Now
Home First Finance Home Loan Interest Rates
HFFC Home Loan Interest Rates depend on various factors like the loan quantum, purpose of home loan, credit score, type of occupation etc. It ranges between 7.35%.
You can also check Loan Against Property Interest Rates Online from Top Lenders.
Home First finance Home Loan Comparison with Other Top Banks
Given below is a comparison of HFFC Home Loan with the Home Loan of other Top Banks.
| Bank | Loan Amount | Interest Rate | Processing Fee | Tenure |
|---|---|---|---|---|
| HFFC Home Loan | Maximum 90% of the property value | 8% to 22% p.a. | Login Fee: Rs. 2500 plus GST Project Appraisal Fee: Rs. 17500 to Rs. 25500 plus GST | Maximum 25 years |
| HDFC Home Loan | Up to 90% of property value | 7.90% - 9.00% | 0.50% of the loan amount or Rs. 3000 whichever is higher | Maximum 30 years |
| PNB Housing Loan | Need-based as per the project cost and the repayment capacity. Maximum 90% of the property value | 8.25% | up to 0.50% of the loan amount. Minimum processing fees is Rs. 10000. | Maximum 30 years |
| SBI Home Loan | 75% to 90% of the property value | 7.50% - 8.45% | 0.35% of the loan amount | Maximum 30 years |
| Kotak Mahindra Bank Home Loan | Up to 80% of the project cost | 7.99% | 0.50% of the loan amount | Maximum 20 years |
| Canara Bank Home Loan | 75% to 90% of the project cost depending on the loan amount | 8.40% to 11.25% | 0.50% of the loan amount with a minimum of Rs. 1500 and a maximum of Rs. 10000 | Maximum 30 years |
| ICICI Home Loan | Up to 90% of the value of the property | {{CITI_BANK_HL_INTEREST_RATE}} | 0.50% to 2% of the loan amount | Maximum 30 years |
| Bank of Baroda Home Loan | Up to 90% of the property value with a maximum of Rs. 10.00 Crores depending on the repayment capacity | 7.45% | 0.25% to 0.50% of the loan amount | Maximum 30 years |
Home First Finance Home Loan Eligibility Criteria
To qualify for Home First Finance Home Loan, you will have to fulfil the Home Loan Eligibility Criteria mentioned below.
- Resident Indians, Non-Resident Indians and Persons of Indian Origin are eligible for the home loan.
- Both salaried individuals and the self-employed can apply for a home loan.
- The minimum credit score required is 750 and above.
- The minimum income required will be decided on a case to case basis.
Besides the above criteria, the number of dependants, the existing financial obligations, and work/business experience will also be looked into before taking a credit decision.
Documents Required HFFC Home Loan
The following documents have to be submitted along with the loan application. If applying for an HFFC home loan online, you can upload the soft copies of the Home Loan Documents Required mentioned below.
| Document Type | Documents to be submitted |
|---|---|
| Address Proof |
|
| Photo ID Proof |
|
| Income Proof | For Salaried Individuals
For the self-employed
|
| Property Documents | Document to establish the marketable title of the property like
|
| Other documents |
|
Home First Finance Home Loan Processing Fee and Charges
The schedule of HFFC Home Loan Processing Fee and other charges are given below:
| Type of Charge | Amount |
|---|---|
| Login Fee | Rs 2500 plus GST |
| Project Appraisal Charges |
|
| NACH/ECS/Cheque Bounce | Rs. 500 plus GST per instance |
| Late payment penalty |
|
| Retrieving documents | Nil |
How to Calculate Home First finance Home Loan EMI?
The Home First Finance home loan EMI depends on various factors.
Loan Quantum: The loan quantum will be decided depending on the repayment capacity and the value of the property. The EMI will vary according to the loan amount.
Interest Rate: The interest rate is a critical factor that impacts the EMI of HFFC Home Loan. If the rate of interest is a floating one the EMI will fluctuate every time there is a change in the interest rate. If the interest rate goes up the EMI will go up and if the Home Loan Interest Rates go down the EMI will come down.
Tenure: Tenure of the HFFC home loan is another critical factor. You will have the option of choosing the maximum tenure i.e., 25 years if you cannot afford a higher EMI. Otherwise, you can choose a shorter tenure and reduce the interest cost on the loan.
You can calculate the EMI using the Home Loan EMI Calculator provided on the official website of Home First Finance Company. Follow the steps given below to calculate the home loan EMI before applying for the loan.
- Access the official website of HFFC
- Choose a home loan under the ‘loans’ option.
- Under the ‘Calculators’ option choose the home loan EMI calculator
- Enter the loan amount, interest and tenure
- EMI will be calculated immediately.
Home First Finance Home Loan Customer Care
If you have any queries regarding HFFC Home Loan you can reach out to the Customer Care Centre of HFFC by dialling the HFFC home loan contact numbers given below:
For enquiry regarding a fresh home loan: +91-8880649911
For enquiry regarding existing home loans: +91-8880549911
Additional Info: SBI Home Loan Customer Care Number
Home First Home Loan FAQs
Yes. You will be eligible for tax benefits on HFFC Home Loans under Sections 24 and 80C of the Income Tax Act 1961. You can claim a deduction of up to Rs. 2.00 lakhs for interest paid and Up to Rs. 1.50 lakhs under 80C for the principal repayment.
No. A guarantor is not required to avail of an HFFC home even if you are self-employed.
Are senior citizens required to provide a guarantor if they want to avail of an HFFC home loan?
No. Senior Citizens need not provide a guarantor to avail of an HFFC Home Loan.
The interest rate for HFFC Home Loan ranges between 8.00%. The interest depends on the loan amount, profession, credit score and internal credit risk rating.