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Home Loan Prep – Documents You Must Possess

By Author: Aishwarya Mahurkar
Total Articles: 291

One of the most important parts of the home loan application process is the submission of the documents required for a home loan. There are a number of documents one needs to have in place when submitting a home loan application to any financial institution. These documents are ID proof, income proof, ownership of the house, etc. If any individual wishes to have their home loan application approved immediately, they must ensure that they got all the correct documentation as required by the financial institution. Here is a list of documents required for your home loan application to get approved:


1. ID proof


For their ID proof an individual can provide a number of documents including Aadhar car, Driver’s License, Pan Card and Passport. These documents identify the individual’s name, age and face.


2. Residence proof


To provide proof of residence one can provide along with their home loan application their electoral card, passport, electricity bill, telephone bill or their Aadhar card.


3. Income proof

As income proof the individual can provide bank statements of six months along with their home loan application.


4. Property documents

• Original salary certificate of the previous month
• Sales deed and the original share certificate provided by the society to the buyer
• Land and building tax receipts, possession certificate and the location sketch of the property certified by the revenue authorities.
• Original receipts of payments made in advance for the apartment
• The letter of allotment received from the housing society
• The original NOC under ULC Act 1976
• Detailed estimation of the cost of construction of the house


5. Documents to be submitted by NRIs and PIO borrowers

• A copy of their employment contract in English which has been attested by the employer of the embassy
• Copy of identity card which is provided by the employer
• Proof of residence through the driver’s license or utility bills
• Statement of overseas bank account for the last six months
• Power of Attorney which has been stamped and notarized or attested by the India Embassy or consulate


It is important for an individual to submit all the correct documentation on time. The reason why the financial institution requires property documents is to ensure that the loan provided to the borrower is not higher than the actual value of the house or apartment being purchased. Bank statement is also crucial as they provide an insight not only into the borrower’s monthly income but also their spending habits. This is taken into considering when the individual’s home loan application is being considered by the financial institution. It is advisable for all home loan applicants to find out in advance the documents required for a home loan application to submit and keep them ready.

Author Bio :

Aishwarya Mahurkar is an experienced writer concerning the finance industry. Her articles help in informing her readers of the home loan and the documents required for your home loan sector.

Total Views: 80Word Count: 463See All articles From Author

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