Enabling Young Homeowners

Owning your own space is the one dream that millions of people see every day. But the biggest hurdle that they face is of coming up with funds for the initial down payment to buy the house. There are many traditional ways of gathering funds for the down payment capital which are quite popular among the masses but all have some or the other drawback attached to them. Here I would like to introduce a new entrant, HomeCapital’s pioneer Down Payment Assistance Program, which has been generating lots of good buzz in the market.


HomeCapital, an India based company, is the architect of the Down Payment Assistance Program. It is a fintech startup who has made a platform where real estate developers, financial institutions and home buyers can interact with each other to overcome the age-old problem of home down payment in the home buying process.


The program’s objective is to enable the Indian populace to buy homes at an earlier stage of their lives by providing them around 50% of the total down payment requirement as interest-free. Thus, this novel program assists you in buying your dream home today instead of having to wait for years to accumulate savings for the same.


Also, the program provides you with a list of already vetted properties so that you do not have to think twice before choosing a home from any of these properties as every property goes through systematic due diligence and independent research with publicly available information to minimize the risks inherent in the real estate sector. Apart from this, the HomeCapital people have been adding a plethora of properties to the existing list so that the program members are spoilt for choices while looking for their perfect home.


The benefits of the program are as follows:

  1. The Program can help you buy a home by providing part of the required down payment
  2. Interest-free credit
  3. Interest is borne by the Program
  4. Repayment happens during subvention period so does not affect your home loan eligibility or overburden you with a higher debt-to-income ratio in future
  5. Repayment is in the form of EMIs over a period of 36 months
  6. There is no lien on property or hidden charges
  7. The program is applicable to participating properties

Thus, through this program, HomeCapital aims to help transform the dreams of millions to buy their homes into reality and I must say they are off to a good start. I am sure this will bring a breath of relief to most first time home buyers.

Article Posted By : PoojaAgrawallView All Articles

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Keywords :

home , buying home , down payment , home loans


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