HFC slashes home loan package

By ELLEN STOLZ

HFC has reduced its interest on Super Dream Home Loan package from 5.5 per cent to 4.5 per cent for the first 12 months.

This follows a Board meeting this week.

The Super Dream Home Loan is a solution providing insurance, mortgage protection, valuation and security documentation all in one.

The product is available for those who have land or would like to purchase land and build.

This also supports the refinance cases provided additional $30,000 is taken to upgrade the houses.

HFC chief executive, Isikeli Tikoduadua said: “The minimum amount to borrow for this product is $30,000 to a maximum of $500,000.

“The equity is just 10 per cent and the rest is covered through special insurance scheme (excess loan guarantee). The variable rate after 12 months will be 7.5 per cent.

“The whole objective is not only to simulate the construction industry but support the government’s home ownership programme.”

However, Mr Tikoduadua said the company has since then found that market dynamics have changed in the last six months or so and it is timely important to review this.

He advised that there are some other products and expansions programs for HFC as the company moves into the new financial year. HFC serving our people for over 50 years.

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Posted by newsroom on August 4, 2012. Filed under Business. You can follow any responses to this entry through the RSS 2.0. Responses are currently closed, but you can trackback from your own site.