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| Home First Home Loan Highlights 2022 | |
| Interest Rate (floating) | 8% – 18% p.a. |
| Loan Amount | Up to 90% of property value |
| Loan Tenure | Up to 25 years |
| Processing Charges | Rs 9,990 to Rs 21,990 + GST |
Note: Rates as of 4th July 2022
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Table of Contents
Compare Interest Rates on Home Loans for Top Banks & HFCs
| Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
| SBI | 8.40% - 10.15% p.a. | 8.40% - 10.05% p.a. | 8.40% - 10.05% p.a. |
| HDFC Bank Limited | 8.35% p.a. onwards | 8.35% p.a. onwards | 8.35% p.a. onwards |
| LIC Housing Finance | 8.40% – 10.35% p.a. | 8.40% – 10.55% p.a. | 8.40% – 10.75% p.a. |
| ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| Kotak Mahindra Bank | 8.70% p.a. onwards | 8.70% p.a. onwards | 8.70% p.a. onwards |
| PNB Housing Finance | 8.50% - 14.50% p.a. | 8.50% - 14.50% p.a. | 8.50%-11.45% p.a. |
| Punjab National Bank | 8.45%-10.25% p.a. | 8.40%-10.15% p.a. | 8.40%-10.15% p.a. |
| Bank of Baroda | 8.40% - 10.65% p.a. | 8.40% - 10.65% p.a. | 8.40% - 10.90% p.a. |
| Union Bank of India | 8.35% – 10.75% p.a. | 8.35% – 10.90% p.a. | 8.35% – 10.90% p.a. |
| IDFC First Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| L&T Finance Limited | 8.60% p.a. onwards | 8.60% p.a. onwards | 8.60% p.a. onwards |
| Bajaj Housing Finance | 8.50% p.a. onwards | 8.50% p.a. onwards | 8.50% p.a. onwards |
| Tata Capital Housing Finance | 8.70% p.a. onwards | 8.70% p.a. onwards | 8.70% p.a. onwards |
| Federal Bank | 8.80% p.a. onwards | 8.80% p.a. onwards | 8.80% p.a. onwards |
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HFFC Home Loan Fees and Charges
| Loan Type | Processing Fee (exclusive of GST) |
| Home Loan for Salaried Professionals | Rs. 9,990 to Rs. 21,990 |
| Home Loans for the Self Employed | Rs. 11,990 to Rs. 23,990 |
| Home Construction Loans | Salaried – Rs. 11,990 to Rs. 23,990 Self-Employed – Rs.13,990 to Rs.24,990 |
| Home Extension and Renovation Loan | Salaried – Rs. 11,990 to Rs. 23,990 Self-Employed – Rs. 13,990 to Rs. 24,990 |
| Home Loans for NRIs | Salaried – Rs. 9,990 to Rs. 21,990
Self-Employed – Rs. 11,990 to Rs. 23,990 |
| Home Loans for Senior Citizens | Salaried – Rs. 9,990 to Rs. 21,990 Self-Employed – Rs. 11,990 to Rs. 23,990 |
| Home Loan Balance Transfer | Salaried – Rs. 11,990 to Rs. 23,990 Self-Employed – Rs. 13,990 to 24,990 |
| Home Loan Top Up | Subject to existing home loan |
Note: The figures given in the table are indicative and are subject to change without prior information. In addition to the processing fee, additional fees such as GST, stamp duty, CERSAI filing charges, e-filing charges and other statutory dues imposed on the Memorandum of Equitable Mortgage which varies based on the location and will also be levied on the customers.
Types of HFFC Home Loan
Loans for Home Purchase (from approved developers)
- Purpose: This loan is for salaried and self-employed individuals for buying a new house. You can also avail of a loan with joint borrowers, depending upon you and your co-borrower’s eligibility. This loan also comes with other benefits such as no prepayment charges for existing customers.
- Interest Rate: 8% – 18% p.a.
- Loan Amount: Up to 90% of agreement value
- Tenure: 25 years
Home Construction Loans
- Purpose: This loan is for people who want to construct a house on their existing land or need funds to add new infrastructure to their existing home. The loans include funds to start new construction, to complete unfinished construction, or for any renovation works.
- Interest Rate: 8% – 18% p.a.
- Loan Amount: Up to 85% of the total construction cost
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Home Extension and Renovation Loans
- Purpose: This loan is for individuals looking for funds to renovate or improve their homes. The loans include funds to start new construction, to complete unfinished construction, or for any renovation works.
- Interest Rate: 8% – 18% p.a.
- Loan Amount: Up to 85% of the total construction cost
Home Loans for NRIs
- Purpose: These loans are specifically designed for the benefit of non-resident Indians (NRIs). The loan can be availed through an easy online application process.
- Interest Rate: 8% – 18% p.a.
- Loan Amount: As per the eligibility
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Home Loans for Senior Citizens
- Purpose: This loan scheme caters to the home financing requirements of the needs of omes with After a certain age, it becomes harder for people to avail of home loans. We offer senior citizens special loans, with extended tenures and as many co-applicants as they require.
- Interest Rate (salaried): 10.05% – 11.00% p.a.
Interest Rate (self-employed): 10.30% – 11.50% - Loan Amount: Rs. 1 lakh – Rs. 35 lakh
- Tenure: 30 years
Home Loan Balance Transfer
- Purpose: Loans with 2 years fixed + floating rate of interest
- Interest Rate: 6.75% onwards
- Loan Amount: Up to Rs. 5 crore
- Tenure: 30 years
Home Loan Top Up
- Purpose: For existing home loan customers and for balance transfer customers who need additional financing for personal or business requirements.
- Eligibility: For existing customers, we should have a regular repayment history of at least a year. New customers also must submit proof of their good credit history.
- Interest Rate: Subject to existing home loan
- Loan Amount: The total loan amount cannot exceed 90% of LTV
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HFFC Home Loan Eligibility Criteria
- Indian Residents/NRIs/PIOs
- Salaried Professionals/Self Employed individuals
- Credit Score Preferably 750 and above
- Income will be varies from case to case
Besides the above-mentioned eligibility criteria, your home loan approval also depends on other factors such as your current family income, credit history & existing financial obligations (if any). Your eligibility criteria may vary a little depending upon the type of home loan you are going for.
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Documents Required for HFFC Home Loan
Following documents are required to successfully apply for Home Loans by Home First Finance Company:
- Duly filled and signed home loan application form
- A cheque for the processing fee
- Proof of identity (Aadhaar card, Passport, PAN card, Driving license, Voter ID, or Employer-issued ID card)
- Proof of Residence (Passport, Ration card, Aadhaar card, Utility bills, or Lease agreement)
- Proof of Income for Salaried (Latest salary slips for 3 months, Latest Form 16, and Latest ITR)
- Proof of Income for Self-employed professionals (Latest ITR, P&L, and balance sheet for 3 years and Proof of business for last 3 years)
- Other documents (Bank Statements of last 6 months and Passport size photographs)
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Home First Finance Home Loan EMI Calculator
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
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FAQs
Do I need a guarantor to avail of an HFFC home loan for the self-employed?
No, you do not need a guarantor for a Home First Finance Company home loan for the self-employed.
Who can be a co-applicant while applying for Home First Finance Home Loan for the self-employed?
Your spouse or a blood relative can be your co-applicants for availing HFFC home loan for the self-employed.
How can I repay my HFFC loan?
At the time of your loan approval, you will be required to fill out an ACH form. This form will allow the EMIs to be deducted right from your bank account at a fixed time every month. All you need to do is to ensure that your account has enough balance.
Are there any prepayment charges for the HFFC home loan for the self-employed?
No, there are no charges levied on you if you choose to prepay some or all of your Home First loan.
Do I get any tax benefits on Home Loans from Home First Finance Company?
You can avail of tax benefits for home loans under Section 24 and 80C of the Income Tax Act. To know more about tax benefits on Home First Finance Home Loans, click here.
Home First’s Home Extension and Renovation Loans can be availed for what purposes?
You can avail of Home First Finance’s Home Extension and Renovation Loan for building a new floor, repair, maintenance, and adding a new room.
Is the Home First’s Home Extension and Renovation Loan only available to its current customers or can new customers apply for HFFC home loans?
Customers, both current and new, are welcome to apply for a home extension and renovation loans by HFFC.
Do I need to give my permanent residential details of India to avail Home First Finance Home Loan for NRIs?
Yes, you will need to give a permanent residential address to apply for Home Loan for NRIs by Home First Finance Company.
Do I need to give references to apply for an HFFC home loan for NRIs?
No. You do not need to give references to apply for an HFFC home loan for NRIs. However, Home First Finance Company may ask for references if absolutely necessary and therefore, it is a good idea to keep them ready.
Is it mandatory to have a residential address in India to apply for an HFFC Home Loan for NRIs?
Yes. An Indian address is required to apply for an NRI Home Loan by Home Fist Finance.
Who can be my co-applicant for Home First NRI Home Loan?
A close relative or a family member can be a co-applicant for a Home First Finance NRI Home Loan.
Is a guarantor required to get an HFFC home loan for senior citizens?
No, a guarantor is not required to get a Home First home loan for senior citizens.
What are the documents required for Home Loan Balance Transfer by Home First Finance?
At the time of submitting your HFFC balance transfer home loan application, you are required to provide documents related to your existing home loan along with other applicable documents such as income proof (if applicable), property documents, bank statements, and KYC documents.
What documents are required to apply for an HFFC home loan top-up or refinance?
Existing Home First customers do not need to resubmit their identity and address papers to apply for this loan. However, the property will be re-evaluated.
In case of home loan-related queries, how should I get in touch with HFFC?
For any queries or complaints related to housing loans, get in touch with HFFC at:
- For new enquiries related to a home loan, call at – +91-8880649911
- Existing customers can call at – +91-8880549911