HDFC Home Loan, one of India’s most well-known banks, offers a wide range of financial products to its customers. It is also known for its outstanding housing loan programs. HDFC is also one the largest mutual fund companies in India with branches in all the countries. Here are some ways through which you can avail HDFC Home Loan without any hassles.
How do you get an HDFC Home Loan? HDFC Home Loan is available on the basis of various mortgage plans, including First Time Home Buyer Property (FSTP), Secured Tenant Property(STP), Joint Family Home [JHF], Mortgage for Mortgagee (Mortgage for a Multi-family Dwelling (Mobile Home) and other schemes. This allows you to borrow money at a lower interest rate which will make it easier to repay your debts in a shorter time. As you all know that HDFC is the second largest home loan lender in the country with its branch across most of the states. Therefore, it is quite obvious that HDFC can always help you get an affordable and suitable home loan plan for you. Apart from that, HDFC Home Loan eligibility criterion is not too tough, which again adds to the benefits of availing this loan. Here are some ways through which you can apply for HDFC Home Loan:
How to get the HDFC Housing Loan for Pensioners: HDFC offers both secured home loans and unsecured home loans. Both types have different interest rates and features. The only difference between secured and unsecure HDFC housing loans is that there is no security. HDFC will not pay prepayment fees if you have collateral such as your home contents. In case you have nothing to keep as security, then you can easily apply for a HDFC unsecured loan and get your application approved without any prepayment charges.
How to apply for HDFC home loans with poor credit history? HDFC home loans are offered to people with poor credit history. The HDFC home loan is available to individuals with bad credit history, such as IVA, defaults, late payments, bankruptcy, CCJs and arrears. If you do not qualify for any of these options, you can still go for a residential property based on your monthly income. As long as you have a regular source of income and you can prove that you will repay the loan regularly, then you can still opt for the HDFC home loan.
Who can apply for HDFC home loan? HDFC home loans are best suited for those who have a steady source of income and can prove that they can repay the loan regularly. You can apply for HDFC home loans either by you or the agent involved in the transaction. There is no limit to how many times you can apply for these loans, but you might have to stick to a time limit.
How to find the ideal HDFC home loan interest rate? HDFC Home Loans provides a variety of loan products to individuals, including salaried persons. These include the conventional home loan and the self-certification home loan. The self-certification loan is a unique home loan product offered by HDFC whereby the individuals can certify their capability to repay the loan. Individuals can apply online for self-certification home loans at HDFC’s website, or any HDFC branch office across the country. This allows you to shop around for the best deal.
How to find the ideal HDFC housing loan interest rate? Once you start searching for the best possible deal, it is important to understand what factors go into determining the interest rate. The rate of interest is determined by the principal amount and term of self-certified home loans. In the case of the regular home loan, the factors include your credit score, your current monthly income, the deposit you make as security for the loan and the amount of down payment you decide to make. HDFC does not charge a penalty for early repayment.
You can log on to the HDFC portal for loan eligibility to learn more about HDFC housing loan eligibility. This portal provides complete information about HDFC home loan eligibility criteria. You can also use it to help you shop around for the best deal. The portal allows you to choose various quotes provided by different lenders and compares them to identify the best deal. This saves you time and helps you find the best deal.