How Down Payment Assistance help you in Buying a Home?

Posted by Pooja on March 24th, 2020

Buying a home at an early stage of your life is one of the greatest achievements and investments. Buying a house is a necessity but you also must make a substantial financial commitment towards it. When it comes to meeting the down payment requirements of a home, it can get tougher. You have to part with a substantial amount of money in one go to meet the down payment of your chosen house.

There’re many traditional ways of arranging funds for your down payment which are as follows:

1. Borrow money from family and friends.

2. Saving a fixed amount from your salary for some time.

3. Liquidating your contingency funds like FD, mutual funds or even selling your property.

4. Taking a loan against your property

5. Taking a loan from the bank or any other lending institutions.

Along with all the above-mentioned ways of raising the funds for the down payment, a novel and unique method has been introduced to the Indian populace recently. An enterprising fin-tech company named HomeCapital has introduced an interest-free Down Payment Assistance (DPA) Program for the first time home buyers.

It is their conviction that everyone ought to get an opportunity to buy a home at an early stage of their life. They help the buyers meet their 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.

It has pioneered the Down Payment Assistance Program through its technology platform and brings together financial institutions, developers and home buyers together to facilitate the home-buying procedure. On the projects listed in the Program, homebuyers can apply and receive Interest-free down payment assistance. An in-depth guide is also provided in the Indian context for the home buyers which will take you through various stages of home buying, detailing the factors affecting the decision at each stage and help you make an informed decision weighing all facts and figures.

So, thanks to HomeCapital, you can now get an interest-free loan for a home down payment requirements if you are a first time home buyer and purchase your dream home today rather than some time in the future.

Those millions of prospective homebuyers who are eligible for a home loan but face the down payment hurdle, HomeCapital expands the offerings by regularly including new projects in the Program.

HomeCapital has revolutionized the process of home buying in the current times. It’s no longer mandatory to wait for a long time to collect your savings to meet the down payment requirement for your new house. You just have to become a Member of the HomeCapital DPA Program to avail of the benefits of the same. To avail the benefits of the HomeCapital Down Payment Assistance Program, all you need to do is to go on their site and register yourself to become a member. You, then, become eligible for around 50% of the total down payment requirement that’ll be provided to you as an interest-free loan given that you meet their eligibility criteria.