Chapter 5: Down Payment Financing

Home buyer's education series | Apr 3, 2019 | 10 min read

The HomeCapital Down Payment Assistance Program was started with an objective to improve the affordability of home buyers by funding a portion of their down payment needs. Rising income levels, along with government reforms and schemes have made it the best time to buy a home, especially for a new home buyer.

However, down payment remains a challenge. Not having enough down payment means settling for cheaper options for your dream home or having to depend upon family borrowings, expensive personal loans or your future savings. Not having adequate down payment may also lead to higher Loan-to-Value (LTV), higher interest rates and consequently higher Equated Monthly Installments (EMIs).

The HomeCapital Program addresses this challenge for the home buyers and lets you to buy your dream home today rather than having to wait for a significant amount of time in future. Started by a team of professionals from varied fields such as Finance, Real Estate & Technology, the program will provide up to half of your down payment requirements. The program helps you to widen your reach when it comes to home buying. The program increases your home loan eligibility and makes your home buying faster and simpler. Having a low LTV will help in keeping monthly cash outflows low.

The home DPA is in the form of interest-free personal loan equal to your contribution towards down payment and is provided by our partner-lending institutions in participating projects where the interest is borne by HomeCapital. The principal amount is divided by the number of months to arrive at monthly payments.

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The HomeCapital "Portal" and all its contents are only for the purpose of providing information regarding the HomeCapital Down Payment Assistance Program and should not be construed as binding. By using this website, you accept our Terms of Use and Privacy Policy. We are not a lending institution. All loans are made by our financial institution partners. The real estate properties listed on the Portal are not an advertisement or a solicitation and the customer shall independently review and verify the credentials of the project and/or the developer.

HCPL and it's partners reserve the right to reject any application at any time in accordance to its policies. To qualify, a borrower must be a Indian citizen and meet our financial partners underwriting requirements. To check for an applicant’s eligibility, our lending partner will request your full credit report from one or more credit bureaus. Not all applicants receive the down payment assistance. To qualify for the program, you must have a responsible financial history and meet other conditions. Assistance limits displayed are indicative, actual limits will depend on number of factors. If approved, your program assistance tenure will depend on a variety of factors, including down payment assistance amount, repayment capacity, a responsible financial history, years of experience, income, home-loan to value ratio and other factors.

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