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| Step 8: Pre-payment of loan |
Home First allows partial as well as full pre-payment of the loan after registration when regular EMIs have commenced.
Partial pre-payment: You can make a partial pre-payment and thus reduce your outstanding loan amount and interest outflow. Home First will give you the choice of:
- Reducing your EMI proportionate to the reduction in loan amount. The tenure will remain the same as your original tenure in such cases.
- Reducing your tenure and keeping the EMI the same.
Full pre-payment: You can make a full pre-payment and repay the entire loan outstanding. This will ensure that the loan is closed and the loan agreement is terminated. All original documents pertaining to the property collected from you during the loan approval process will be returned to you.
Home First will NOT charge any pre-payment or closure charge for Partial or Full Pre Payment. |
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