Documents Required for Home Loan
When you are applying for a home loan, the lender requires you to submit certain documents along with your application. Without submitting these documents, your loan application will not be processed. Also, once you submit thm, lenders verify each and every document before approving your application.
Therefore, it’s very important that you understand what documents are required to apply for a home loan to ensure a smooth processing and approval.
Generally, the list of documents required to process your home loan application is almost the same across the lenders. It includes income documents, KYC documents, property documents, etc. However, the final list of documents required may still vary from lender to lender, depending on certain factors.
Home Loan Documents Checklist
Here are some of the most important documents that most lenders ask you to submit with your loan application:
1. Completed and signed home loan application form
2. Latest passport size photographs
3. Identification proof (at least one proof required)
- Aadhar Card
- Driving License
- PAN
- Passport
- Voter ID
4. Residence proof (at least one proof required)
- Utility bills (like Telephone bill, electricity bill, water bill)
- Ration card
- Passport
- Bank statement with your address or Passbook
- Employment letter
- Voter ID
5. Age proof (at least one proof required)
- Birth certificate
- 10th marksheet
- Driving License
- PAN
- Aadhar Card
- Passport
- Passbook
6. Income documents
For salaried individuals:
- Copy of Form-16
- Copy of the latest Income Tax returns
- Latest Salary slips
- Salary increment letter (if any)
For self-employed individuals:
- Bank account statement
- Latest Balance Sheet and P&L statement
- Copy of Income Tax returns
- Proof of business address
- Copy of Form-16A (if applicable)
- Certificate of qualification (required for professionals like C.A., Doctor, etc.)
- Details of business license
For non-resident Indians (NRIs):
- Copy of valid Visa and passport
- Work permit
- Bank statement (both overseas and NRO)
- Letter of appointment with latest salary slips (if salaried employee)
- Employee ID (if applicable)
- Overseas address proof
7. Property documents
- Sale deed or agreement to sell
- NOC (no objection certificate) from the builder or society
- Construction cost estimate
- Receipts of property tax paid
- Receipts of tax paid for land/building
- Receipt of any payment made in advance to builder
- Approved building plan
