Availing a home loan is no longer an arduous task. You do not need to run between banks and financial institutions, nor do you need to stand in queues for hours to get your application form reviewed. You do not even need to visit the branch to get your loan. However, while it is convenient and easy to avail a home loan, it is crucial to fulfil all formalities efficiently, especially the documentation. You need to submit all the required documents along with the application form to avoid rejections or delays in the process. That can happen only when you are aware of the documents you need. Though you can enquire about the documents required for home loans from the lender during application, here is a standardised list.
Given below is the comprehensive list of home loan documents that you must keep ready while applying. Read on.
| Know Your Customers (KYC) documents
Identity proof
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You can submit a copy of any of the following document as identity proof:
● Aadhaar ● PAN ● Driving license ● Voter ID card ● Valid passport
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| Address proof | You can submit a copy of any of the following document as address proof:
● Aadhaar ● Passport ● Driving license ● Utility bills like electricity bill ● A bank statement that contains your address Rent agreement, Voter ID or any other document that contains your updated address is also accepted. |
| Property documents
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You need to furnish proper property documents duly acknowledged and updated to apply for a home loan.
● Maintenance receipt and electricity bills ● An approved copy of the building plan ● Occupancy certificate ● A detailed estimate of the construction cost ● Encumbrance certificate ● Sales deed ● Title deed ● No Objection certificate from builder/society ● Payment receipt certifying payment made to seller/builder ● Property tax recipes
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Income documents:
The list of documents can vary based on where you work. Lenders typically ask for more documents from a self-employed applicant.
| Salaried applicant | Self-employed applicant |
| Salary slip for last three months | Income tax returns with computation for the last two financial years |
| Bank statement for last six months | Audited Profit and Loss account and Balance Sheet duly attested by a Chartered Accountant for last three years |
| Investment proofs | Copy of the saving account of the applicant and current account statement of the business entity for the last six months |
| Form 16 or Income Tax Returns of the last three years. | Shop and establishment certificate |
| Partnership deed (partnership firm) or Memorandum of Association (company) | |
| VAT registration certificate | |
| Professional qualification certificate/Certificate of practice | |
| SEBI registration certificate | |
| PAN and Proof of address of the business |
While you furnish the required documents, ensure that they are updated and accurate. Incomplete documentation or incorrect information can lead to application rejections and pause your dream of buying a house. Moreover, it would be best to check with the lender to get the entire list of required documents when you apply for a housing loan.
