All the Documents Required to Apply for a Home Loan
All applicants are required to present the following documents whether you are applying for an online home loan or a home loan in person:
- Application form: duly signed
- Three passport size photographs
- Know Your Customer (KYC) documents:
Address proof: Passport /electricity bill/electoral ID card
Signature proof: Identification of signature from a current bankers
Identity proof: Electoral ID card / passport / driving license / PAN
- In case you are non- salaried borrowers, you need to provide proof of business address.
- Income documents:
If self-employed: Bank statement for the last 2 yrs & your IT Returns
- A statement of personal assets and liabilities
- Information about any other loans availed from banks and/or NBFCs.
- Processing fee cheque
- Property documents:
2. Receipts of land and building tax paid.
3. A certified sketch of the location of the property.
4. Letter of allotment from society, housing board or private builder.
5. Original receipts of any advance payments towards the purchase of a flat.
6. A certificate of non-encumbrance for the last 12/30 years.
7. Original possession certificate.
8. Original land tax receipt issued by the revenue authorities.
9. Copy of approved building plan
10. In the event that it is a case of conversion of agricultural land, a copy of the relative order.
11. Under ULC Act 1976, an original No Objection Certificate (NOC) is required from either the housing society or private builder.
12. An estimate with details of the cost of construction of house.
13. For the purpose of installment remittance, a letter is needed with details such as, the name of the banker, account number from the society, builder or the housing board.
Although, this list can seem overwhelming, these are standard documents that you should have with you when you buy a house and therefore, it should not be difficult to gather these documents for the loan application processing of your dream home.
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