Documents Required for a Home Loan

Home loan applicants, whether salaried or self-employed, need to submit a certain set of documents to get their home loan application approved. Here is a comprehensive list of documents that one is required to submit while applying for a home loan:

1. Duly filled and signed home loan application form

2. Proof of Identity (any one of the following):

• Aadhaar Card

• Voter ID Card

• PAN Card

• Passport

• Driving Licence

3. Proof of Residence (any one of the following):

• Aadhaar Card

• Voter ID Card

• Bank Passbook

• Ration Card

• Passport

• Utility bills (telephone bill, electricity bill, water bill, gas bill)

• Insurance Policy Receipt

• Letter from a recognised public authority verifying the applicant’s address

4. Proof of Age (any one of the following):

• Aadhaar Card

• PAN Card

• Passport

• Birth Certificate

• Class 10th Marksheet

• Bank Passbook

• Driving Licence

5. Proof of Income:

a) For Salaried Applicants - 

• Form 16

• Certified letter from the employer

• Payslips for last 2 months

• Appraisal/Promotion letter

• IT returns for past 3 years

• Investment proofs (if any) like FDs, shares, etc.

 

b) For Self-Employed Applicants - 

• Income Tax Returns (ITR) for last 3 years

• Business Licence Details

• Balance Sheet and Profit & Loss Account Statement of the Company/Firm (duly attested by a Chartered Accountant)

• Licence of Professional Practice (for doctors, consultants, etc.)

• Registration Certificate of Establishment (applicable for shops, factories, and other establishments)

• Proof of business address

In case you miss submitting an important document, it can lead to the dismissal of your loan application.

 

In case any of the documents required are missing, here are a few things you can do to get your loan processed seamlessly.

• Ask your lender whether any alternate documents can be submitted to replace the missing document
  

• In case you do not have a certain document with you at the moment, write a letter to the lender requesting time to procure the document without hindering the loan process

• File an FIR if your documents are missing. This report can then be shown to the lender when you apply for the loan

 

Now that you have learnt about the various documents required, apply for a home loan now! Make sure to keep all the required documents handy, prior to applying for the loan for a smooth and seamless process. Once these are verified, your loan is likely to be approved. Don’t wait any longer, get started today!