If you are planning to avail a home loan, you might know that every step of the home loan application is crucial for approval. Even a small mistake in filing the application form or meeting the eligibility criteria can lead to rejections and hamper your dreams of buying your house. Similarly, lenders can reject the application if your documents are incomplete. Therefore, you must have a thorough knowledge of the documents required for home loans and must be careful while you apply.
So, if you are in the midst of your home loan process, you have come to the right place. Here is a comprehensive list of documents that you could need to apply for a home loan.
Comprehensive list of documents required for home loans
To start with the documentation process, you need to furnish the Know Your Customer or KYC documents. Your address and identity proof are usually included in the KYC documents. For KYC documents, you can furnish any documents admissible by the government and universally accepted.
- Identity proof
You can submit a copy of any of the following documents as identity proof:
- Aadhaar
- PAN
- Driving license
- Voter ID card
- Valid passport
- Address proof
You can submit a copy of any of the following documents 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
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
- Income documents
Following are two separate lists of income documents required for availing home loan for salaried and self-employed applicants.
| Salaried applicant | Self-employed applicant |
| Salary slips for last two 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 |
This home loan checklist can help you focus on preparing documents required for availing home loan. It can also help you finish the home loan process and get into your new home faster. However, you must ensure that the documents are updated and complete. They should not contain any outdated or wrong information. Moreover, while you furnish the documents, you must ensure to check the home loan eligibility.