How To Apply For HDFC Home Loan At The Lowest Price

Having a home is a self attribute that you have waited too long to acquire. When you think about buying a home, two things come to mind: a beautiful house and a home loan. However, before leaping into the purchase of a new house, it is a good idea to analyze your alternatives and create a budget based on your specific circumstances. Hence, it’s vital to realize that buying a house isn’t easy; it requires a greater willingness and dedication on your part to make your goal of being a first-time landlord a success.

If you’re like the majority of people, who want the lowest possible interest rate on your home loan. But how can you find out what your interest rate is? Hence,  even the most knowledgeable financier may have difficulty determining this. When you learn how your bank loan interest rate is determined, you will be better prepared to negotiate your bank loan and to buy your first home. This article will guide you to apply for the HDFC home loan at a low-interest rate.

Obtain a home loan from HDFC

You may apply for HDFC Home Loans online using the HDFC website.

  • On the HDFC home loan website, fill out the form.
  • Enter the desired loan amount, monthly income, employment status, and city.
  • To evaluate your eligibility, the executive will ask you a few easy questions.
  • Your application will be handled further if you have all of the relevant papers.
  • Your CIBIL score will be validated since it may result in a lower interest rate.
  • After clearing, disbursement usually takes 7 working days.

You may apply for HDFC Home Loans online using Wishfin.

  • On the Wishfin HDFC home loan website, fill out the form.
  • Enter the desired loan amount, monthly income, employment status, and city.
  • To evaluate your eligibility, the executive will ask you a few easy questions.
  • Your application will be handled further if you have all of the relevant papers.
  • Your CIBIL score will be validated since it may result in a lower interest rate.
  • After clearing, disbursement usually takes 7 working days.
  • Please keep in mind that Wishfin simply facilitates your contact with eligible banks. Only the bank can assess if you are eligible for a home loan.

Also, you can opt for an HDFC home loan by visiting a nearby branch.

Factors determining your HDFC home loan

These are the requirements you need to meet in order to be eligible for the loan.

  1. All prospective property owners must be co-applicants. Co-applicants, on the other hand, must be close family members.
  2. The Telescopic Repayment Option, which is exclusively available to Salaried/Self-employed persons under adjustable-rate home loans, has a maximum loan length of up to 30 years.
  3. The loan duration is also determined by the applicant’s profile, the applicant’s age at the anticipated expiration of the loan, the age of the property at loan maturity, the specific repayments scheme is chosen, and any other terms available subject to HDFC’s current guidelines.

HDFC Home Loan Document

 

The documentation procedure for employed professionals is straightforward, as seen below.

  • ‘Valid ID and Proof of Residence
  • The Previous 6 Months’ Salary credits are shown on bank statements.
  • The Most Recent Salary Slips
  • Also, the latest Form-16 Passport size photograph of all applicants and co-applicants must be placed to the Application Form and signed across Cheque for processing fee favoring ‘HDFC Ltd.’
  • All Receipt of payments paid to the builder and duplicate copy of the Allotment Letter / Buyer Agreement

HDFC Home Loan Documents Required for Self-employed

  • ‘Valid ID Card and Proof of Residence
  • Previous 6 Months’ Bank Account Statements
  • All applicants / co-applicants must have passport-sized pictures affixed to the Application Form and signed across the page.
  • A cheque for processing fee payable to ‘HDFC Ltd.’
  • Also, Copy of the Allotment Letter / Buyer Agreement Receipt/(s) of payment/(s) paid to the developer Business Certificate and Proof of Business Profile and Income tax returns for the previous three years (self and business)
  • Profit and Loss Account also the Balance Sheet over the last three years

HDFC home loan key features

HDFC has some of the market’s best home loan interest rates, making it a quality organization. The HDFC home loan interest rate ensures that consumers get the most out of their loans. HDFC is one of several banks that offers better rates on house loans at events, such as during festive seasons. Also, higher benefits to government employees and other professionals. Also, in any HDFC home loan package, there are no hidden costs or charges.

Best HDFC home loan Interest Rates

HDFC offers house loans with cheap interest rates and simple terms. The HDFC home loan interest rate ranges from 6.7 percent to 8.2 percent. Pricing is subject to change based on your eligibility. HDFC provides lower interest rates for women than typical HDFC home loan interest rates.

Best Repayment option with a minimum fee

You may easily repay your home loans over a time that is financially appropriate for you. So, you can repay the amount over up to 30 years. The processing costs for Salaried Professionals INR 3,000 + GST and Self Employed Non-Professionals INR 5,000 + GST.

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