Documents Required For Home Loan

Generally, Home Loan application process is almost same for all banks it many differ only depending on the specific requirements and other factors.

Below are the documents are required by financial institutions to process a loan application:

1. Proof of age
2. Proof of address
3. Proof of income of the applicant & co-applicant
4. Bank statements of the last 6 months
5. Passport size photographs of the applicant & co-applicant

A. Self-Employed/Businessmen

1. A brief introduction of Business/Profession.
2. Balance Sheet, Profit and Loss account and statement of income with Income Tax returns for the last 3 years certified by a CA.
3. A photocopy of Advance Tax payments (if applicable).
4. Bank statements of Current and Saving accounts for the last 6 months.
5. A photocopy of Registration Certificate of establishment under shops and Establishments Act/Factories Act.
6. A photocopy of the first and last pages of the Ration card or a copy of PAN/Telephone/Electricity Bills.
7. A photocopy of Registration Certificate for deduction of Profession Tax (if applicable).
8. A photocopy of Certificate of Practice(if applicable).
9. A photocopy of any bank loan (if applicable).
10. A photocopy of LIC policy (if applicable) 

B. Salaried individuals

1. Salary slip / Form 16 A
2. A photocopy of the first and last pages of Ration card or copy of PAN/Telephone/Electricity bills
3. A photocopy of LIC policies with the latest premium payment receipts (if any)
4. A photocopy of Investments (FD Certificates, Shares, any fixed assets, etc., or any other documents supporting the financial background of the borrower)
5. Photographs (as applicable)
6. A photocopy of bank statements of the last six months

C. If the property being purchased is in a Cooperative Society

1. Allotment letter from the society in the borrower’s name
2. Original share certificate of the society
3. Copy of the byelaws of the society
4. Copy of the lease deed, if executed
5. Certificate of registration of the society
6. No Objection Certificate from the society
7. Copy of N.A permission for the land from the Collector
8. 7/12 extract or property register card in the society’s name
9. Search and title report (with the details of documents) for the last 30 years
10. Copy of order under the Urban Land Ceiling Act
11. Copy of building plans sanctioned by the competent authority
12. Latest receipts of taxes paid
13. Commencement certificate granted by Corporation / Nagar Palika
14. Original agreement to assign / deed of assignment.

D.If constructing on own land

1. 12 extract or property register card in your name
2. Original sale deed of land and extract of Index II.
3. Copy of N.A. permission for land from the collector.
4. Copy of order under Urban Land Ceiling Act.
5. Search and title report (with the details of documents) for the last 30 years.
6. Building permission granted by Corporation / Nagar Palika.
7. Copy of the building plans sanctioned by the competent authority.
8. Estimate of cost of construction certified by the architect.
9. The latest receipts of taxes paid.

E. If a flat is purchased from the builder

1. Original copy of your agreement with the builder.
2. 7/12 extract or property register card of the land under construction.
3. Index II extract of your agreement with the builder.
4. Copy of N.A. permission for the land from the collector.
5. Search and title report (with the details of documents) for the last 30 years.
6. Development agreement between the owner of land and the builder.
7. Copy of order under the Urban Land Ceiling Act.
8. Copy of building plans sanctioned by the competent authority.
9. Commencement certificate granted by Corporation / Nagar Palika.
10. Building completion certificate(if available).
11. The latest receipts of taxes paid.
12. Partnership deed or memorandum of association of the builders firm.