As a smart Home Buyer you need to plan ahead the finances for your dream home well ahead of time. Calculating the amount you will be paying as an interest at what interest rate and for what tenure is important from the financial point of view. Therefore every single opportunity to save money should be considered for maximising savings and to avoid any financial burden resulting in healthy financial health of your family.
At HLXP Capital, our founder Mrs. Renu Agrawal is the DSA of various leading home loan lenders and under her guidance we help you in getting the maximum value out of your home loan by understanding your current home loan and suggesting the ideal home loan lender for you which will lead to maximum savings at that moment of time. HLXP's guidance in Home Loan transfer can help you in reducing the EMIs, get a Top-up loan on the existing home loan, change the tenure of the home loan.
Our executives will guide you through our stream lined processes and the entire home loan balance transfer process will get completed with minimal visits to the banks, resulting in massive time savings which our esteemed customers value the most. At HLXP Capital, we put our customers first and therefore our home loan balance transfer process is completed while giving the personalised services to make sure all the home loan requirements are met with ease.
Our mission is to make home loan taking process a pleasant experience for every home buyer.
Home Loan Balance Transfer Eligibilty Criteria:
Any salaried, self-employed professional or a self-employed businessperson with an outstanding home loan servicing and repayment history can apply for the home loan balance transfer. Following are some of the criteria (all loan providers have some variations though):
Must be an Indian Citizen: The age of home loan applicant must fall between 21 and 60 for employed and is extended to 70 for self-employed professionals.
Acceptable Credit Rating: Your Credit Rating must be in the range desired by the Home Loan Lender.
Stable working history: You should have been working with present organisation for 2 and more years.
Repaying Capacity: Your finances should be in healthy conditions and your monthly inflows should be in proportion to the prospective Home Loan EMI.
You can borrow up to 90% of the cost of the property is upto Rs. 30 Lacs, & 80% for the cost of property above Rs. 75 Lacs) in case of Home Loan Balance Transfer. (This varies from bank to bank so Contact us for exact details)
Your repayment capacity is determined by the home loan provider for calculating the eligible home loan amount. Repayment capability takes into consideration various factors like monthly salary/ income, age, qualification, assets and liabilities, etc.
You can take the home loan for upto 20 years or the balance home loan tenure of the existing one - whichever is lower and can vary on basis of profile of the applicant.
In Floating rate loans, change in Base rate will have direct impact on the interest rate of Home Loan. Since Floating rate are application for first year - interest rate on following years would depend on Home Loan Lender's policies. Contact us to know more about this.