Lenders gather all the information about you from the documents you submit. Be it your personal details, property specifications or financial stability. It is through your documents that they decide if they should approve your loan or reject it. Naturally, documentation is a crucial element of the home loan process. While you can find the documents required for a home loan on the lender’s website, it is always better to know about them beforehand.
Here are the supporting documents that you need to submit with your application to get your home loan approved. There could be some changes in documentation based on your occupation.
The list of documents for salaried and self-employed applicants is given in the table below:
| Salaried applicants | Self-employed applicants |
| Identity documents –
Any one of the following – ● Aadhaar ● Voter card ● PAN ● Passport ● Driving licence
|
Identity documents –
Any one of the following – ● Aadhaar ● Voter card ● PAN ● Passport ● Driving licence
Address proof- Any one of the following – ● Aadhaar card ● Driving licence ● Voter ID ● Rent agreement ● Latest utility bill ● Bank statement
The lender can also ask you to submit additional documents wherever applicable – ● Shop and establishment certificate ● Partnership deed (partnership firm) or Memorandum of Association (company) ● VAT registration certificate ● PAN card ● Professional qualification certificate/ Certificate of practice ● SEBI registration certificate ● Proof of business address |
| Income documents –
● Salary slip for last two months ● Bank statement for last six months ● Form 16 or Income Tax Returns of last three years ● Investment proofs, if any
|
Income documents –
● Income tax documents with computation for the last two financial years ● Audited Profit and Loss account and Balance Sheet duly attested by a Chartered Accountant ● Copy of the saving account of the applicant and current account statement of the business entity for the last six months. |
| Property documents –
● No Objection Certificate from builder/ society ● Payment receipt certifying payment made to seller/builder ● Property tax recipes ● Maintenance receipt and electricity bills ● An approved copy of the building plan ● Occupancy certificate ● Registered sales deed ● A detailed estimate of the construction cost. |
Property documents –
● No objection certificate from builder/ society ● Payment receipt certifying payment made to seller/builder ● Property tax recipes ● Maintenance receipt and electricity bills ● An approved copy of the building plan ● Occupancy certificate ● Registered sales deed ● A detailed estimate of the construction cost. |
Though this is a comprehensive list of documents required for a home loan, it can vary from lender to lender. Before you avail a housing loan, it would be best to ask the lender about it. You can visit their website or contact the representative for the same. Keep the documents handy when you apply for the loan to ensure quick approval and disbursal.
Incomplete documentation or delay in furnishing adequate documents is one of the most common reasons for home loan rejections. Therefore, while applying for a home loan, ensure that it is supported by all the documents in order. Moreover, your documents should be accurate and always contain updated information. If you have any queries, you must not hesitate to contact the lender’s representative for assistance.