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.
Additional Info: You can also check Best Home Loan Interest Rates
|Loan amount||Up to 90% of Property Value|
|Rate of interest||8.00% onwards|
|Tenure||Up to 30 years|
|Lowest EMI possible||Rs. 734 Per Lakh|
|Foreclosure Charges||Nil for floating rates|
|Penal Interest Rate||2% per month|
The basic details of the HFFC Home Loan are given below:
|Purpose of the loan|
|Loan quantum||Up to 90% of the market value of the property depending on the repayment capacity of the applicant.|
|Interest rate||8% to 18% p.a. The interest rates depend on the loan quantum, type of employment, credit score and internal credit rating|
|Repayment period||Maximum repayment period permitted will be 25 years.|
Pre-sanction charges of Rs. 2500 plus GST
Project Appraisal charges ranging from 17500 plus GST to Rs. 25500 plus GST. The appraisal charges depend on the loan amount.
The following are the features and benefits of Home First Finance Home Loan:
Additional Info: Also Apply Tata Capital Home Loan
To qualify for Home First Finance Home Loan, you will have to fulfil the Home Loan Eligibility Criteria mentioned below.
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.
Additional Info: Also check SBI Home Loan EMI Calculator
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|
|Photo ID Proof|
For Salaried Individuals
For the self-employed
Document to establish the marketable title of the property like
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 8% to 18% p.a.
Additional Info: You can also avail Navi Home Loan
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|
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 18% p.a.|
Login Fee: Rs. 2500 plus GST
Project Appraisal Fee: Rs. 17500 to Rs. 25500 plus GST
|Maximum 25 years|
|SBI Home Loan||75 to 90% of the property value||6.70% to 6.90%||0.40% of the loan amount with a minimum of Rs. 10000/- and a maximum of Rs. 30000/-||Maximum 30 years|
|PNB Home Loan||Need-based as per the project cost and the repayment capacity. Maximum 85% of the property value||6.75% to 8.80% p.a.||0.35% of the loan amount with a minimum of Rs. 2500 and a maximum of Rs. 15000||Maximum 30 years|
|Canara Bank Home Loan||75% to 90% of the project cost depending on the loan amount||6.65% to 9.40% p.a.||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||6.70% to 7.55%||0.50% to 2% of the loan amount||Maximum 30 years|
|HDFC Home Loan||Up to 90% of property value||6.70% to 7.65% p.a.||0.50% of the loan amount or Rs. 3000 whichever is higher||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||6.50% to 8.10% p.a.||0.25% to 0.50% of the loan amount||Maximum 30 years|
|Kotak Mahindra Bank Home Loan||Up to 80% of the project cost||6.55% to 7.20% p.a.||0.50% of the loan amount||Maximum 20 years|
|Citibank Home Loan||Up to 80% of the property value with a maximum of Rs. 10 Crores||6.65% onwards||0.40% of the loan amount||Maximum 25 years|
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.
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
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On the next page, you will have to provide details like gender, email address, PAN, and Aadhar Number. You should also upload the soft copy of PAN and Aadhar before you hit the submit button.
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 loan amount depends on various factors like the interest rate, tenure and existing financial commitments. If you do not have any existing financial commitments and the interest applicable is 10% the tenure provided is 25 years you will be eligible for Rs. 26,4113/-
The interest rate for HFFC Home Loan ranges between 8% to 18%. The interest depends on the loan amount, profession, credit score and internal credit risk rating.