HDFC: Housing Loan Counselors..!

HDFC Ltd.,is India's leading provider of home loans. About  35 years, HDFC has pioneered the development of the housing loan market in India.

They have a very deep understanding of the requirements of customers, particularly those who are buying a house for the first time.

Housing Loan Counselors..!

Ease and convenience in the total buying experience

HDFC's housing loan counselors will be based at the project site by approved by HDFC, so that  customers can process the purchase of the property &  apply for their home loans at the same time.

The home loan counselors will advise customers on the appropriate home loan product, documentation requirements and provide any other information they may need related to their home loan. The project's sales team is also trained to guide customers to complete HDFC's home loan documentation process.

Documentation..!

 

In order to facilitate the housing loan process and thereby early completion of the loan, customers are required to bring with them the following documents:

** Identity proof (usually one of the following: Passport, driving license, ration card, pan card, voters identification),

**  Address proof (one of the following: Passport, electricity bill, telephone bill, ration card,)

**  Letter from employer in original

**  Bank statement in original attested by banker,

** Buying Agreement

** Income documentation (Latest 3 months salary slips),

** Latest Form 16

 **  Latest ITR for salaried customers and last 3 years IT Returns, (along with computation of income statements and profit and loss account and balance sheets of the firm for self-employed customers)

**  Copies of bank statement for the last 6 months

**  Any further documents as required by HDFC to process the loan.

Home Loan Quantum..!

The amount of loan is usually the lower of the following:

^^ Property price

^^ loan eligibility or / the amount of loan required by the customers.

HDFC will finance upto a maximum of 85 % of the cost of the home (subject to HDFC's norms and policies from at the time).

Home Loan Tenure..!

 

HDFC provides for maximum flexibility of loans for various tenors, with a maximum period of 20 years or up to the retirement age of the borrower, whichever is lower.

There is also flexibility for pre-payment of part of the loan, subject to HDFC's policies on pre-payment from time to time, aided by annual bonus or other lumpsum earnings of the customer.

With longer tenor loans, customers can reduce their burden of monthly payment.

Processing Fees..!

HDFC charges one time processing fee of 0.5 % or Rs.10,000 of the loan amount, whichever is lower. Service tax will be charged in addition accordingly.

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