Hero Housing Finance is a prominent housing finance company operating in India. They specialize These offerings encompass home loans, home improvement loans, in offering a diverse range of home loan products tailored to assist individuals and families in buying, building, or renovating their homes.home construction loans, and balance transfer loans. The company's primary goal is to deliver affordable and easily accessible housing finance solutions, particularly targeting middle and lower income segments.
A Khasra Number is a unique ID for rural land in India, used to identify and verify land parcels. It’s essential for land ownership proof, transactions, loans, and mutations. Assigned by local authorities, it can be found online via state portals or offline at Tehsil offices. It ensures transparency in land dealings. Website URL: https://www.herohousingfinance.com/blog/knowledge-series-of-experts/what-is-khasra-number Country List: India
Freehold vs Leasehold Property: Freehold property offers full ownership with no renewal, while leasehold grants usage rights for a fixed term, typically requiring renewal. Freehold is more secure, valuable, and allows more freedom, whereas leasehold may involve restrictions and extra charges. Conversion from leasehold to freehold is possible via a legal process. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/understanding-the-difference-between-freehold-and-leasehold-property Country List: India
Buying property online? Ensure thorough due diligence. Verify all legal documents like title deeds, possession and completion certificates, and check for pending litigation. Do a background check on the seller and visit the property physically. Use verified portals and legal help for a secure purchase. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/buying-a-property-online-here-are-a-few-things-to-watch-out-for Country List: India
Liquid Income Program helps assess creditworthiness through actual business cash flow, ideal for self-employed with unaudited financials. Offers up to ₹50L loan, minimal documentation, higher LTV (up to 90%), and tenure up to 30 years. Available for fully built, self-occupied properties. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/all-you-need-to-know-about-liquid-income-program Country List: India
Buying a home? Watch for hidden costs like stamp duty, registration fees, advance maintenance, brokerage, parking, interiors, GST, and PLC. These extras can add up fast and impact your budget. Plan ahead to avoid surprises and make informed decisions. Hero Housing Finance can guide you through the process—reach out for expert help. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/7-hidden-costs-to-look-out-for-when-buying-a-new-home Country List: India
Society Patta properties is a land ownership document issued by co-op societies in Jaipur. Unlike JDA-approved properties, Patta plots may lack basic amenities and face legal hurdles, making bank loans difficult. Registration involves applying at the Tehsildar’s office with proper KYC and documents. Hero Housing Finance offers loans after due diligence. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/all-you-need-to-know-about-society-patta-property-in-jaipur Country List: India
Home loan insurance protects new home buyers by covering outstanding loan dues if the borrower passes away before loan maturity. It secures families from repayment burdens, offers affordable premiums, and tax benefits. Different plans cater to varying needs, ensuring peace of mind and financial security for homeowners and their loved ones. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/home-loan-insurance-for-new-home-buyers Country List: India
The Reset Clause in a home loan lets lenders periodically revise your interest rate, usually every 2-4 years, to match market rates. Initially, you may have a fixed rate, which then switches to floating based on benchmarks. If rates rise, your EMI or loan tenure may increase, affecting your finances. Budgeting for this clause is crucial. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/reset-clause-in-home-loan-agreement Country List: India
Digital tools simplify home loan applications by streamlining eligibility checks, EMI calculations, amortisation schedules, and prepayment impact. These calculators help estimate loan amounts, monthly payments, interest, and savings. With AI chatbots and online portals, the process is faster and hassle-free, making home loans easier to manage and apply for. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/home-loan-process-with-digital-tools Country List: India
Joint vs Individual Home Loans: Joint home loans combine incomes for higher loan eligibility, shared EMIs, and double tax benefits, but may cause disputes and less repayment flexibility. Individual loans offer sole ownership, simpler processing, and control but limit loan amount and tax benefits. Choose based on your financial needs and relationship trust. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/joint-home-loans-vs-individual-loans Country List: India