Home Loan Documents
Generally, the documents required to process a loan application are almost similar across all banks, however they may differ depending upon specific requirements and other factors.The following documents are required by financial institutions to process a loan application:
- Proof of age
- Proof of address
- Proof of income of the applicant & co-applicant
- Bank statements of the last 6 months
- Passport size photographs of the applicant & co-applicant
Salaried individuals
- Salary slip / Form 16 A
- A photocopy of the first and last pages of Ration card or copy of PAN/Telephone/Electricity bills
- A photocopy of Investments (FD Certificates, Shares, any fixed assets, etc., or any other documents supporting the financial background of the borrower)
- A photocopy of LIC policies with the latest premium payment receipts (if any)
- Photographs (as applicable)
- A photocopy of bank statements of the last six months
Self-Employed/Businessmen
- A brief introduction of Business/Profession.
- Balance Sheet, Profit and Loss account and statement of income with Income Tax returns for the last 3 years certified by a CA.
- A photocopy of Advance Tax payments (if applicable).
- A photocopy of Registration Certificate of establishment under shops and Establishments Act/Factories Act.
- A photocopy of Registration Certificate for deduction of Profession Tax (if applicable).
- Bank statements of Current and Saving accounts for the last 6 months.
- A photocopy of Certificate of Practice(if applicable).
- A photocopy of any bank loan (if applicable).
- A photocopy of the first and last pages of the Ration card or a copy of PAN/Telephone/Electricity Bills.
- A photocopy of LIC policy (if applicable).
- A photocopy of LIC policy (if applicable).
If a flat is purchased from the builder
- Original copy of your agreement with the builder.
- 7/12 extract or property register card of the land under construction.
- Index II extract of your agreement with the builder.
- Copy of N.A. permission for the land from the collector.
- Search and title report (with the details of documents) for the last 30 years.
- Development agreement between the owner of land and the builder.
- Copy of order under the Urban Land Ceiling Act.
- Copy of building plans sanctioned by the competent authority.
- Commencement certificate granted by Corporation / Nagar Palika.
- Building completion certificate(if available).
- The latest receipts of taxes paid.
- Partnership deed or memorandum of association of the builders firm.
If the property being purchased is in a Cooperative Society
- Original share certificate of the society
- Allotment letter from the society in the borrower’s name
- Copy of the lease deed, if executed
- Certificate of registration of the society
- Copy of the byelaws of the society
- No Objection Certificate from the society
- 7/12 extract or property register card in the society's name
- Copy of N.A permission for the land from the Collector
- Search and title report (with the details of documents) for the last 30 years
- Copy of order under the Urban Land Ceiling Act
- Copy of building plans sanctioned by the competent authority
- Commencement certificate granted by Corporation / Nagar Palika
- Latest receipts of taxes paid
- Original agreement to assign / deed of assignment.
If constructing on own land
- Original sale deed of land and extract of Index II.
- 12 extract or property register card in your name.
- Copy of N.A. permission for land from the collector.
- Search and title report (with the details of documents) for the last 30 years.
- Copy of order under Urban Land Ceiling Act.
- Copy of the building plans sanctioned by the competent authority.
- Building permission granted by Corporation / Nagar Palika.
- The latest receipts of taxes paid.
- Estimate of cost of construction certified by the architect.
