|HDFC Housing Finance, a division of HDFC bank, which has got a few housing finance schemes for the customers. With more than 25 years of experience in financial market, HDFC stands head and shoulder above its competitors in the home loan segment. HDFC Housing Finance has got a strong impact on the customers who are looking for some housing finance.
HDFC Housing Finance Corporation
HDFC Housing Finance Corporation of India provides Home Loans for the individuals to purchase fresh or resale house/flat as well as to construct houses. Home Improvement Loans are for facilitating internal and external repairs and other structural improvements like painting, waterproofing, plumbing and electric works, tiling and flooring, grills and aluminum windows. Home Extension Loan is for the extension of an existing dwelling unit.HDFC Housing Finance has got 3 types of housing finance for their customers.
You can apply for HDFC Home Finance individually or jointly. Adding up the income of the co-applicant would enhance your eligibility for the home loan. However, the co-applicant need not to be a co-owner of the house.
HDFC Housing Finance pays a maximum of 85% of the total project cost. The maximum loan amount is based on the repayment capacity of the applicant. You have to repay the loan amount within 20 years, subject to your retirement age. You can definitely go for some lesser term loan.
There is an 'Adjustable Rate Home Loan' plan available in HDFC Housing Finance, where the loan is linked to HDFC's Retail Prime Lending Rate (RPLR). Here the rate on the loan would be revised every three months from the date of first disbursement. If there is a change in RPLR, the rate of loan may change.
There are Multiple Repayment Option available in HDFC Housing Finance. Step Up Repayment Facility, Flexible Loan Installment Plan, and Accelerated Repayment Scheme are there to give you a wide range of options to choose your plan from.
When you go for HDFC Housing Finance, you have to pay a fee of 1% of the loan amount. Service taxes are extra as applicable. There is no charges for prepayment. In order to learn more about housing finance companies in India browse through the site.