Home loans are secured loans. So, lenders require certain property documents before they sanction the loan. Different lenders may require their own specific documents as well as other criteria that need to be successfully met.
Mentioned below is a complete list of documents that are needed to apply for a home loan.
General documents needed for a home loan
Completed application form for a home loan
Photographs (passport size)
Proof of identification (POI) (any one of those mentioned below)
Aadhaar Card
PAN Card
Passport
Driving License
Voter’s ID Card
1. Proof of address/residence (POA) (any one of those mentioned below)
Passport
Ration Card
Bank Passbook
Voter’s ID Card
Utility Bills (such as Electricity Bill, Water Bill, Gas Bill, Telephone Bill)
LIC Policy Receipt
Letter issued by a recognised authority, verifying the address of the customer
2. Proof of age (any one of those mentioned below)
Passport
Aadhaar Card
Birth Certificate
PAN Card
10th Class Marksheet
Driving Licence
Bank Passbook
3. Documents Indicating Income
For salaried individuals:
Form 16
Certified letter obtained from the employer
Salary slip (of past two months)
Increment/Promotion Letter
Income tax returns (of past three years)
Besides proof of income for salaried individuals, he/she may be required to submit any proof of investments (such as shares, fixed deposits, etc.) along with passport-size photographs.
For self-employed individuals:
Income tax returns (or ITR) of the past three years
Balance sheet as well as profit and loss account statement of the company or firm (which has been duly attested by a chartered accountant)
Business licence details (or some other equivalent document)
The licence of professional practice (such as those for doctors, consultants, etc.)
Registration certificate of the establishment (for factories, shops, and other establishments)
Proof of business address