Purchasing a home is likely to be one of life’s most significant accomplishments for the majority of Indians. Finding the perfect house and then obtaining a suitable home loan are both critical. People take out home loans for a variety of reasons, not only a lack of funds.
There are numerous other advantages to obtaining a home loan. All banks and Housing Finance Companies require the same documents when applying for a home loan (HFCs). However, some particular requirements may differ depending on your home loan type, individual credit profile, and so on. We’ve compiled a list of some of the most important home loan documents that you’ll need to submit during the loan application process.
To begin with, the first step lies in submitting the right documents. Below mentioned are few documents that are needed to be submitted while going to avail a home loan.
Neatly signed and filled home loan application form - Your first task would be to give us all the details. You need to fills all the forms and hence you can be assured of the process going in a smooth manner.
Passport-size photographs - Please keep few photographs in handy as they are required during the application form filling.
Statements of investments (if any) - All proof of investments that you currently hold in the market must be disclosed while applying for a home loan. Keep the statements in handy.
Copy of plan approved for the proposed construction/extension (in case of applying for home loan for extension) - While applying for a home loan, you also need to submit a copy of the construction/extension of the said property in question. The bank/NBFC needs this to evaluate the loan.
Cost estimation or valuation report from the bank’s/NBFC (or finance company’s) panel CA - Also, once you get the valuation done, you need to submit those details too to the bank/NBFC.
Allotment letter of housing board/NOC of the society/builder etc - Apart from the valuation documents, you also need an NOC from the society/builder and submit it with the bank/NBFC for their verification.
Valuation/cost estimation report from evaluator approved by the NBFC or Bank Property papers with OC and CC - While you avail the services of a professional valuator for the property you want to buy, the bank/NBFC will send their own professional who will complete his checks and give the cost estimation report to the bank/NBFC.
Bank statements and salary slips of last 6 months from application date -While applying for home loans, your financial condition is thoroughly checked and hence they check bank statements and salary slips of the last 6 months.
Identity and signature proof (if any) - Passport, Pan card, Driving License, Voter ID card, Aadhar card, employee identity card in case of government employees.
Address Proof (if any) - Bank statement, Rent Agreement, Voter ID card, Ration card, Passport, Driving License, telephone/electricity/water/credit card bill or Property tax.
Age Proof (if any) - Voter ID card, Secondary school leaving certificate (class 10), birth certificate, Passport, Aadhar Card, pension payment order or receipt of LIC policy.
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