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With minimal documentation, applying for a HDFC home loan is quick and hassle free. Our home loan experts are available to help you in your loan application process and offer you assistance every step of the way. The minimum credit score to avail home loan from HDFC is 700. A good credit score makes the chance of your application getting approved better and faster. It is advisable to keep checking your CIBIL score from time to time. All customers with an existing Home Loan, Home Improvement Loan or a Home Extension Loan can apply for a Top Up Loan.
You can avail a loan for purchase or construction of your home, purchase of a shop/office to run your business or for purchasing a plot of land. Once the mortgage lender has received the required payment order documents, they will pay out the loan. This goes on until at the end of the loan, the principal repayments are almost 100% of the monthly annuity. In other words, your savings component increases, month by month, year by year. Nevertheless, our mortgage calculator is a good start in your search for the best mortgage. In the next step, our financing experts will discuss your financing options with you during a free, no-obligation online consultation, taking into account your situation, wants, and needs.
Tranche Based EMI
Currently, HDFC Home Loans are available at a Floating Rate of Interest. This interest rate prevails at the time of the loan sanction. The application process is completed by clicking on the “Submit” button.
The Pradhan Mantri Awas Yojana -Housing for All was a mission that was launched by the Government of India with the aim of boosting home ownership. All the information contained herein above is for awareness and customer convenience and is intended to only act as an indicative guide about HDFC’s products and services. For detailed information about HDFC’s products and services kindly visit the nearest HDFC branch. Delayed payment of interest or EMI shall render the customer liable to pay additional interest up to 24% per annum.
Conversion Fees
This loan can also be taken for plot purchase, home extension, home improvement or home renovation, and also a top-up loan for personal or professional needs. These loans are also applicable to customers who are self-employed and have a minimum income of Rs.2 lakhs annually. Customers can use this loan amount for home construction also on a freehold plot or a leasehold plot. There are the regular adjustable rate loans which are also known as a floating rate loan. The rate of interest on these loans can be adjusted throughout the loan tenure as per the bank discretion.
When the applicant wants to borrow an amount that is beyond their eligibility. It is a loan to extend or add space to your home such as additional rooms and floors etc. ‘Own Contribution’ is the total cost of the property less HDFC’s home loan. Home Loans up for salaried individuals with a minimum income of ₹10,000 p.m. And for self employed individuals with a minimum income of ₹2 lacs p.a.
HDFC Reach Loan Documentsfor Salaried individuals
Income Tax Returns of last 3 years duly attested by a chartered accountant along with details of your business. For the purchase of Residential property, a flat, row house, and bungalow from private developers in approved projects. Banks and non banks like HDFC have aligned their rates to the RBI's benchmark repo rate which has risen 225 basis points since May this year.
Yes, HDFC provides borrowers a top-up of their existing Home Loan up to a maximum limit of Rs. 35 lakhs. HDFC Home Loans currently has a minimum loan processing fee of Rs. 3000. Any change in the HDFC Home Loan interest rates will be informed to the borrowers in writing. The rate of interest is subject to revision from time to time. These revisions are due to changes in Base Rate or change in the lender policies.
How do I Improve My Chances of Getting a Home Loan?
Up to 1.50% of the loan amount or ₹4,500 whichever is higher, plus applicable taxes. Once you avail a HDFC home loan, you can access your home loan account online on our website. You can download account statements, interest certificates, request for disbursement and do much more. Credit Linked Subsidy Scheme under PMAY makes the home finance affordable as the subsidy provided on the interest component reduces the outflow of the customer on the home loan.
In other words, a higher down payment means a lower LTV and a lower interest rate, and vice versa, a lower down payment means a higher interest rate due to a higher LTV. The monthly repayment rate comes from the loan amount, the annual interest rate, and the annual repayment rate. Visit the official portal of HDFC Ltd. and fill-up the form by following the instructions. The status of your HDFC home loan application form can also be tracked easily through this portal.
Attractive interest rates with preferential rates for the woman customer in Standard and Tru-fixed patterns, depending on the loan amount. A Top-up loan is availed after repayment of 12 EMIs without interruption. Both existing and new customers are eligible to apply for the loan. The loan is available to both the existing and new customers to undertake a gamut of upgrades, including internal and external. Women customers, irrespective of occupation, are offered preferential interest rates.
The customer shall pay the premium amounts directly to the insurance provider, promptly and regularly so as to keep the policy / policies alive at all times during the pendency of the loan. Once you've selected your mortgage offer, we will provide you a document checklist that shows all the required document you need to submit. Like many mortgage brokers, we get paid by the German lender banks. Unlike many brokers, we won't charge you any fees for our services.
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