There are many ways of raising funds to meet the down payment requirement for purchasing a home for the first time. You can take a loan from family and friends, arrange for a bank loan, etc. But for Indians now there is, also, an another way to be able to come up with enough money for a large down payment, i.e., by arranging a partial home down payment assistance or dpa by a financial institution.
In India, there is an upcoming firm, HomeCapital, which has pioneered the home down payment assistance program for first time home buyers which helps the buyers meet the down payment needs for buying the house of their choice.
HomeCapital has tie-ups with the best financial institutions and real estate groups in the country. The prospective buyers can go on the HomeCapital website and check their eligibility for the housing project that they have liked to avail an interest free loan of about 50% of the down payment amount.
Thus, the eligible buyers get home down payment assistance in the form of interest free home loan from one of the financial institutions which they can repay back within 36 months during the subvention period. Also, the buyer is not additionally burdened with a higher debt to income ratio as the repayment occurs in the subvention period.
Hence, HomeCapital is helping today’s India to not only secure their lives by purchasing choice properties but also doing so stress free and at an earlier date rather than later.