The following are the features of Home First Finance Loan Against Property.

• Purpose of the loan: It is a multi-purpose loan and can be availed for investing in a business, to meet wedding expenses, for a family vacation, meet medical expenses, for the education of your children, for repairs and renovations of the property, for investing in property etc. The loan is similar to a personal loan but with a lower interest rate as it is a secured loan.
• Loan amount: The loan amount will depend on factors like repayment capacity, number of dependants, existing commitments etc. The loan amount permitted will be up to 50% of the market value of the property with a maximum of Rs. 40.00 lakhs. 
• Nature of Security: Self-occupied residential property will be accepted as security. A property that is self-occupied and partly rented out for commercial purposes also will be accepted. Home First Finance Company Loan Against Property will not be provided against a totally commercial property without self-occupancy.
• Turnaround time: The turnaround time for the loan approval is very short, and you can expect a decision within a week.
• Documentation: Simple documentation that reduces the turnaround time of the loan approval.
• Paperless loan process: You can apply for HFFC Loan Against Property online and also upload soft copies of the required documents, which makes the whole loan process paperless.
• Interest: The rate of interest depends on the loan amount and ranges between 14% to 16%.
• Repayment: A repayment period ranging from 5 years to 15 years is provided.
• Processing Fee: Nominal processing fee at 2% of the loan amount.
• Prepayment: Prepayment of the loan is permitted after six months from the date of availing of the loan. Prepayment charges will be collected at 3% of the prepaid amount. For loans availed by individuals at a floating interest, no prepayment charges will be collected.

The benefits of the HFFC Loan Against Property are:

• You will receive continuous updates about the status of the loan, and the approval also will be conveyed through email or SMS.
• A dedicated relationship manager will assist you throughout the loan process till the disbursement of the loan.
• A dedicated customer portal for various functions like accessing the loan statement, making prepayments to the loan, for raising service requests is provided.
• Customer convenience and comfort being the top priority, Home First Finance Company puts in maximum efforts to provide the best customer service.
• The Company will ensure quick completion of the process once the loan is approved.

Additional Info: Also Apply Home First Home Loan