Program benefits

If you have any questions on the program benefits

General

  • Who will be the direct beneficiary of the HomeCapital down payment assistance amount?
  • Can I use the property bought through the HomeCapital Home Down Payment Assistance Program for rental income?
  • Does availing the HomeCapital Home Down Payment Assistance Program affect my overall home loan eligibility?
  • Do I need to post any collateral with HomeCapital or its partner lending institutions to avail credit assistance under HomeCaptial’s Down Payment Assistance Program?
  • What is the maximum amount of down payment assistance that I can avail under the HomeCapital Program?
  • Can I still avail the benefits under PMAY-CLSS on buying a house with the HomeCapital Program?

Who will be the direct beneficiary of the HomeCapital down payment assistance amount?

<p>Home buyers will be the direct beneficiaries of the home down payment assistance amount. Since, the down payment assistance is a personal loan provided by our partnering lending institutions, the amount will be directly credited into the personal account of the HomeCapital user. Upon receiving the amount, the users will have to immediately pay the down payment assistance amount to the developers through cheque or electronic payment system.<br></p>

Can I use the property bought through the HomeCapital Home Down Payment Assistance Program for rental income?

<p>Yes, you can use the property bought through the HomeCapital Home Down Payment Assistance Program for rental purposes in the same way as bought on your own.<br></p>

Does availing the HomeCapital Home Down Payment Assistance Program affect my overall home loan eligibility?

<p>The HomeCapital Home Down Payment Assistance Program computes your eligibility keeping in mind the home loan requirement and stage of construction of the project. Our algorithms ensure that your home loan requirement eligibility is not affected for under-construction properties.</p>

Do I need to post any collateral with HomeCapital or its partner lending institutions to avail credit assistance under HomeCaptial’s Down Payment Assistance Program?

<p>No, our users need not provide any collateral to avail home down payment assistance. The assistance is in the form of an unsecured personal loan whose interest is borne by the HomeCapital Home Down Payment Assistance Program.<br></p>

What is the maximum amount of down payment assistance that I can avail under the HomeCapital Program?

<p>HomeCapital Program helps home buyers by providing down payment assistance up to half of the initial down payment needs. In other words, your contribution will be equal to HomeCapital’s interest free assistance. </p> <p>However, your home down payment assistance eligibility will also depend upon your credit score, current monthly income, existing loan EMIs and credit card outstanding.</p>

Can I still avail the benefits under PMAY-CLSS on buying a house with the HomeCapital Program?

<p>Yes, you can avail all the government benefits similar to buying the property on your own.<br></p>

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Disclaimer

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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