Home is where the heart is. Isn’t it what you hear people say? You might agree with me when one can say that a home is where you can be free. Now, let us address the elephant in the room, buying a home is an uphill task. Howeverhttps://apnapaisa.com/hdfc-home-loan, one does not need to do it alone. You can apply for a home loan from Financial Institutes & easily get a home loan to fulfill your dream of getting a house that you have imagined.
In addition, if you are on the lookout for a home loan, then the HDFC Home loan is your best bet to ease the process of application & the entire journey.
The HDFC Home loan makes buying a home easy for you by providing the financial support you need.
Here are some key details to know about HDFC Home loan:
- With an HDFC Home Loan, you can avail of an amount ranging from Rs. 1 Lakh to Rs. 10 crore
- The rate of interest begins from 8.1% onwards.
- The loan process fee is minimal & it is up to 1.5%.
- If you settle the home loan that you have borrowed early on, no prepayment charges will be levied in this case.
- The tenure of the loan is long-term & one can avail a home loan for a period of about 30 years.
The pre-requisites that one should know about before applying for an HDFC Home loan are as follows:
- Eligibility criteria:
- Applicants must be between the ages 21 & 65. There is no requirement for a credit score, but it is always a good thing to have in your arsenal.
- Anyone who earns a sum of money via employment, self-employment, professionals & non-professionals who are self-employed can also apply.
- No minimum salary is specified. However, this is dependent on the loan amount, tenure & other various factors.
- Documentation needed:
- A HDFC Home loan application duly filled along with proof of identity & residence & KYC documents such as Aadhar Card, Passport & others.
- Documents reflecting proof of income such as salary slips & ITRs.
- Documents relating to property such as title deed, allotment letter, etc.
- Other documents that are needed during the verification process are personal contribution proof, employment contract, bank statement showing repayment of a concurrent loan, passport-size photos & a cheque for the process fees.
These are some of the major prerequisites that one should know about before applying for an HDFC Home Loan. The other is, checking your banks & ensuring that you not only have enough funds for personal expenses for a period of 6 months in case of an unfortunate event. However, you must also have an emergency fund that is able to take the case of the interest expenses for a period of 6 months so that you are prepared to deal with any & every uncertainty that you may encounter.
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