The HomeCapital Down Payment Assistance Program was launched with the objective to make home-buying more affordable for home buyers by financing a section of their down payment requirements. Various factors like increasing income levels and government reforms have made it the ideal period to purchase a home. However, arranging for the down payment financing remains a challenge.
Due to lack of it, you as a buyer, depend on future savings, costly personal loans or family borrowings. This situation also results in greater EMIs and higher interest rates. This program provides you with complete assistance in buying your dream home today by addressing the problem of down payment. You can double your capability and widen your reach with this program.
Additionally, you can increase your home loan eligibility and make your home buying process quicker and easier. In the HomeCapital Program, you are given financial assistance in the form of an interest-free personal loan, which is equivalent to your contribution towards the down payment amount. This amount is provided by the company’s partner-lending institutions while HomeCapital pays the interest.
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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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