‘Home’ brings to mind comfort, joy, pride and family time. Every homeowner will tell you that her home gives her a sense of identity and its ownership is sacrosanct; this is one asset she would never trade for anything in the world.

To experience this sense of ownership, pride and joy, now would be a good time to plan your home purchase. Becoming a homeowner needn’t be hard on your pocket. You can Apply for Home Loan and bring alive your dream of owning a home. There are numerous benefits of availing a home loan; you get tax benefits on interest paid and loan amount repaid; with a Home Loan Apply to achieve homeownership today instead of in future; the home loan provider assists you in terms of assessing the builder’s credibility and track record and the legal documents pertaining to the building.

In addition to these benefits, there are 3 key benefits of becoming a homeowner in present times:

1. Low property prices: Now homebuyers have multiple options in the affordable home segment. This has a two-pronged benefit for a home buyer – on one end, she can afford a larger home or purchase a home for a lower amount than she had budgeted. On the other end, she can enjoy other benefits of buying a home with a home loan such as tax benefits, paying a small amount as down payment and using a home loan to pay the rest, longer loan repayment tenure of up to 30 years etc.

2. Reduction in GST rates on home purchase: GST (Goods and Services Tax) rates on home purchase have been reduced significantly. Currently, GST rate levied on purchase of residential homes is 5 per cent (1 per cent for affordable homes) without the benefit of input tax credit (ITC). Purchasing a home today will give you the benefit of these low rates.

3. Low interest rates: Home loans have become very affordable today with interest rates moving downward in the recent past. Lower interest rates result in lower EMI amounts which makes home loans more attractive and affordable.

The key benefit of a home loan is that you can become a homeowner today and you needn’t wait to accumulate sufficient capital to make your home purchase. Additionally, your home loan repayment tenure can extend up to 30 years depending on your loan eligibility and other norms of the home loan provider (the longer your loan tenure, lower is the EMI amount). This gives you the comfort of repayment over a long period without putting pressure on your finances.

While you may be convinced about the need to consider becoming a homeowner today, you may wonder how to go about availing a home loan, which is one of the first steps to your home purchase. One of the simplest ways to avail a Home Loan, Apply Online. When you Apply for Home Loan Online, you can make your application with a few simple steps. For instance, HDFC’s online application for a home loan is quick and easy. All it requires you to do is visit www.hdfc.com, check your loan eligibility, fill in the property details (if you have made your selection), fill the loan application form with your personal details (name, age, income details, etc.), upload your documents (identity proof, address proof, income tax returns, etc.) and submit. On receiving your loan application, HDFC instantly initiates the processing of your loan and reverts with the loan approval and other terms.

To reiterate, now’s a good time to make the big decision of becoming a homeowner; take the first step today.

Also Read - Home Loan Process