Documents Required for Home Loan

The documents required for a home loan are more or less the same for various banks, Housing Finance Companies (HFCs) and other lending institutions. A few specific requirements may vary from lender to lender. The home loan documents required might also differ on the basis of your loan scheme, purpose of the loan, individual credit profile, etc. In this post, we have listed common documents that your lender might request at the time of home loan application.

Checklist of Documents Required for Home Loan

The list of documents required to apply for a housing loan is as follows:

1. Completed Home Loan Application Form

2. Passport size Photographs

3. Proof of Identification: (Any one of the below)

• PAN Card
• Passport
• Aadhaar Card
• Voter’s ID Card
• Driving License

4. Proof of Age: (Any one of the below)

• Aadhaar Card
• PAN Card
• Passport
• Birth Certificate
• 10^th Class Marksheet
• Bank Passbook
• Driving License

5. 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

6. Income Documents:

For Salaried Individuals:

• Form 16
• Certified letter from Employer
• Payslip of last 2 months
• Increment or Promotion letter
• IT returns of past 3 years

Apart from the proof of income of the salaried individual, he would also have to furnish any investment proofs (like fixed deposits, shares, etc) and his passport-size photographs.

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

7. Property Documents:

• NOC from Society/Builder
• A detailed estimate of the cost of construction of the house
• Registered Sale Deed, Allotment Letter or Stamped Agreement of Sale with the Builder (original document)
• Occupancy Certificate (in case of ready-to-move-in properties)
• Property Tax Receipts, Maintenance Bills and Electricity Bills
• Receipts of the advance payments made towards the purchase of flat (original document)
• An approved copy of the building plan (key plan/floor plan in case of purchase of flats)
• Original of the land tax paid receipt and possession certificate as issued by the revenue authority
• Payment receipt or bank account statements showing payments made to the Builder or Seller