Home First Finance Company Home Renovation Loan

Home First Finance Company offers a Home Renovation Loan to help you improve or expand your living space. This loan is designed for homeowners who want to renovate or extend their homes, such as adding rooms or upgrading existing structures. The Home First Finance Company Home Renovation Loan features a simple online application process, quick approval, and minimal paperwork. It provides flexible repayment options with terms of up to 20 years, making it easier to manage your budget while enhancing your home. This loan is a practical solution for turning your current home into your dream home.

Home First Finance Home Renovation Loan Highlights And How Does This Work?

Here are the highlights and operational details of the Home First Finance Company Home Renovation Loan, summarised to give you a quick understanding of what to expect:

Home First Finance Home Renovation Loan Features & Benefits

The Home First Finance Home Renovation Loan comes with many features and benefits designed to suit your needs:

• Personal Relationship Manager: A dedicated manager handles your loan from start to finish and can answer your questions anytime.
• Easy Application Process: Apply online and get updates via texts and calls. Expect a response within 48 hours.
• Convenience: Meetings can happen at your home or office to fit your schedule.
• Paperless and Efficient: The loan process is completely digital, from application to document submission, through the’ Home First Customer Portal’ app.
• Flexible Loan Terms: You can borrow up to 90% of the property value with loans lasting up to 25 years.
• Additional Benefits: You can make extra payments on your loan without fees and easily increase your loan amount if your property value rises or you face unexpected expenses.

Home First Finance Home Renovation Loan Interest Rates

Let’s take a look at the interest rates for the Home First Finance Home Renovation Loan:

*Note that extra charges like stamp duty and filing fees might also apply depending on where you live. These are extra costs you pay on top of your loan.

Home First Finance Home Renovation Loan Eligibility Criteria

New and existing customers are welcome to apply for the Home First Finance Home Renovation Loan. This loan is particularly accessible to all salaried professionals. You can check if you qualify using an online eligibility calculator.

The main criteria for eligibility focus on your monthly income. Home First takes a personal approach by considering your occupation, family background, and the intended use of the loan. Instead of demanding numerous documents, you only need to provide proof of identity. The company emphasises understanding your financial situation—like your income, savings, and liabilities—over just looking at paperwork.

Home First Finance Home Renovation Loan Documents Required

Applying for a Home First Finance Home Renovation Loan is straightforward. You primarily need to provide proof of your identity. The focus is less on collecting numerous documents and more on understanding your financial background. This includes an assessment of your income, savings, and any liabilities you might have. This approach allows Home First to see the full picture of your financial health and make decisions based on your real-life situation rather than just the paperwork you submit. This makes the process more personal and tailored to your specific needs.

Home First Finance Home Renovation Loan Processing Fees And Other Charges

For the Home First Finance Home Renovation Loan, you’ll need to pay a processing fee of Rs 2,500 plus an 18% GST. You might also face stamp duty, e-filing fees, and CERSAI filing charges, which vary depending on your location. These additional costs are related to the legal formalities of processing your loan application.

Home First Finance Home Renovation Loan Terms And Conditions

The terms and conditions for the Home First Finance Home Renovation Loan include several important points to consider. The loan offers flexible repayment options, with terms extending up to 20 years. Interest rates for the loan vary based on your credit profile and the specifics of your application. There are no charges for prepaying the loan, allowing more flexibility in managing your finances. Additionally, new and existing customers are eligible to apply, making it accessible to a wider range of individuals looking to renovate their homes.