The documents required to apply for a home loan are more or less the same across all banks and Housing Finance Companies (HFCs). However, home loan documents required may vary across lenders on the basis of your home loan type, property type, individual credit profile, etc. Here’s the list of key home loan documents that you will need to submit at the time of loan application.
Documents Required for Home Loan
Documents Required for Salaried and Self Employed Applicants
1. Completed and signed home loan application form
2. Proof of Identity: (Any one of the below)
- PAN Card
- Passport
- Aadhaar Card
- Voter’s ID Card
- Driving License
3. Proof of Age: (Any one of the below)
- Aadhaar Card
- PAN Card
- Passport
- Birth Certificate
- 10th Class Marksheet
- Bank Passbook
- Driving License
4. Proof of Residence: (Any one of the below)
- Bank Passbook
- Voter’s ID
- Ration Card
- Passport
- Utility bills (Telephone Bill, Electricity Bill, Water Bill, Gas Bill)
- LIC Policy Receipt
- Letter from a recognized public authority verifying the customer’s address
5. Proof of Income for Salaried:
- Form 16
- Certified letter from Employer
- Payslip of last 3 months
- Increment or Promotion letter
- IT returns of past 3 years
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6. Proof of Income for Self Employed:
- Income Tax Returns (ITR) of last 3 years
- Balance Sheet and Profit & Loss Account Statement of the Company/Firm (duly attested by a C.A.)
- Business License Details (or any other equivalent document)
- The license of Professional Practice (For Doctors, Consultants, etc.)
- Registration Certificate of Establishment (For Shops, Factories & Other Establishments)
- Proof of Business Address
Note: Some banks and HFCs that offer home loans to those receiving their salaries in cash or do not have adequate income proofs. Some of those home loan options include Unnati Home Loan from PNB Housing Finance, HDFC Reach Home Loan, Griha Suvidha Home Loan from LIC Housing Finance, Gruh Setu Home Loan from Piramal Capital and Housing Finance and IDFC First Bank Home Loan.
7. Property documents:
- Receipts of payments made to the developer (in case of a new house)
- Allotment Letter / Buyer Agreement
- Title Deeds including the chain of previous property documents (in case of house resale)
- A copy of the sale agreement (if already executed)
- Receipt of initial payment made to the house seller
- Title Deeds of the plot (in case of house construction)
- A detailed estimate of house construction by an Architect / Civil Engineer
- A copy of the plans, approved by the Local Authorities
- Proof of no encumbrances on the property
8. Other Documents:
- Passport size photographs of all the applicants / co-applicants (to be affixed on the application form and signed across)
- Proof of own contribution
- Last 6 months’ bank statements showing the repayment of ongoing loans (if any)
- The details of ongoing loans (such as the outstanding amount, monthly instalments, purpose, remaining loan tenure, etc.) in the name of an individual or business entity (if any)
- A cheque for processing fee favouring the home loan provider
For Salaried:
- Employment Contract / Appointment Letter if the current employment is less than a year old
For Self Employed:
- Business Profile
- Latest Form 26 AS
- A list of Directors and Shareholders with their individual shareholding certified by a CA / CS in case of the business entity being a company
- Partnership deed in case of the business entity being a partnership firm
- Memorandum and Articles of Association of the Company
Note: The aforementioned list is indicative. Also, the property documents required for home loan may vary depending on the lender and the property type.
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List of Home Loan Documents Required for NRIs/PIOs Applicants
- KYC Documents:
- Passport with VISA stamps / PIO Card
- Proof of Address mentioning the current overseas address
- Proof of Income for Salaried:
- Work Permit
- Employment Contract / Appointment Letter / Offer Letter (Duly attested by employer/ consulate / foreign office / embassy in case it is in any other language)
- The labor card/ identity card (documents in language other than English must be translated in English and countersigned by the consulate)
- Last 3 months’ Salary Certificates/Slips (in English) specifying name, date of joining, designation and salary details for applicants working in the Middle East
- Last 6 months’ Bank Statements showing salary credits NRE / NRO account (if any)
Credit Bureau Report (in case available in the country where you are residing) - Duly acknowledged copy of last year ITR (except for NRIs/PIOs located in Middle East countries and employees in the Merchant Navy)
- A copy of Continuous Discharge Certificate (CDC) for applicants employed in the merchant navy
- Form P60/P45 and latest employment contract (for salaried)
If any previous loan from other Banks/Lenders, then Loan A/C statement for the last 1 year
- Proof of Income for Self Employed:
- Business License / License of Professional Practice (for Doctors, Consultants, etc.)
- Registration Certificate of Establishment (For Shops, Factories & Other Establishments)
- Business’ proof of address
- Proof of income in case of self-employed professionals/businessmen
- Last 3 years’ Balance Sheets and P&L Accounts audited or certified by a C.A.
- Last 3 years’ ITR (except for NRI/PIO located in Middle East countries)
- Last 6 months’ Bank Statement of overseas account in the name of individual and/or company/unit
- Property documents
- Original title deeds tracing the title of the property
- Encumbrance Certificate
- Agreement for sale/ sale deed/ detailed cost estimate from the Architect/ Engineer for property to be purchased/ constructed/ extended/ improved
- A copy of approved drawings of proposed construction/ purchase/ extension
- Receipts for payments made for buying the dwelling unit
- ULC clearance/ conversion order, etc.
- Receipts for investing the margin money through normal banking channels from the NRE /NRO account(s) in India
- Latest tax paid receipt
- Allotment letter from the co-operative society/ association of apartment owners
Note: All documents must be self-attested. Besides the aforementioned home loan document list, the lender may ask for more documents as deemed necessary.
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Documents Required for Home Loan Balance Transfer
- KYC Documents: Aadhaar Card, PAN card and Proof of Residence (Utility Bills, Ration Card, Passport, etc.)
- Proof of Income: Salary slips and Form 16 (for salaried), previous years’ ITR along with necessary financials (for salaried, self-employed and professionals) and last 6 months’ bank statements
- Additional Documents: Latest principal outstanding letter, list of documents from existing financier and repayment track record