Home Loan Documents
Usually, banks require almost the same type of documents for loan application processing, however, some documentation requirements may differ from bank to bank depending on the individual cases.
The lending authorities usually require the following documents for loan processing:
- Documents for age proof
- Documents for address proof
- Documents for proof on applicant’s as well as co-applicant’s income
- Bank statements of the previous 6 months
- Passport size photographs of the applicant and co-applicant
For salaried applicants, following documents are required
- Official Salary slip/Form 16 A
- Photocopy of the first and last pages of the ration card or copy Electricity/PAN/Telephone bills
- Photocopy of the investment proof (Shares, Fixed assets, FD certificates or supporting documents to show financial stability of the applicant)
- Photocopy of Life Insurance Policies (if any) with at least first premium paid receipts
- Passport size photographs
- Bank statements of the previous 6 months
For Self-Employed/Businessmen applicants, following documents are required
- A concise introduction of your company/business
- Balance sheet, profit & loss statements, income statements with proof of income tax return duly paid (with CA certification) for the previous three years
- Registration Certificate photocopy of establishment certified by the shops and Establishments Act/Factories Act
- Account statements from banks for the previous 6 months (both current and saving accounts)
- Photocopy of the first and last pages of the ration card or copy Electricity/PAN/Telephone bills
- Advanced Tax Payments photocopy (if applicable)
- Registration Certificate photocopy for deduction of Profession Tax (if applicable)
- Practice Certificate of your business/ employment (if applicable)
- Photocopy of Previous loan documents (if applicable)
- Photocopy of Life Insurance Policy (if applicable)
If the applicant is buying a flat from a builder, the documents required are:
- Original documents of the deal with the builder
- Photocopy of N.A. consent for the land from the collector
- 7/12 extract or property register card of the piece of land under construction
- Index II extract of deal with the builder.
- Search and title report (with detailed documents) for the previous 30 years.
- Development deal between the builder and the land owner
- Photocopy of the order under the Urban Land Ceiling Act
- Photocopy of building plans issued by the concerned authority
- Commencement certificate issued by Corporation / Nagar Palika
- Latest tax payment receipts
- Memo of association or participation deed duly signed by the builder’s company
- Completion certificate of the building (if complete)
If the property under agreement fall under the Cooperative society, the following documents are required:
- Original share certificate of the society
- Authorized allotment letter from the society in the name of the buyer.
- Certificate of cooperative society’s registration
- 7/12 extract or property register card in the society’s name
- NOC from the society’s concerned office
- Search and title report (with detailed documents) for the previous 30 years
- Photocopy of the byelaws of the cooperative society
- Photocopy of order under the Urban Land Ceiling Act
- Photocopy of building plans issued by the concerned authority
- Commencement certificate issued by Corporation / Nagar Palika
- Original documents of the deed of assignment
- Photocopy of the lease deed (if applicable)
If construction is to be done on own land, the documents required are:
- Original document of the sale deed of land and Index II extract
- 12 extract or property register card in the applicant’s name
- Copy of N.A. permission for the concerned land from the collector
- Search and title report (with detailed documents) for the previous 30 years
- Photocopy of order under Urban Land Ceiling Act
- Photocopy of the building plans issued by the concerned authority
- Building consent issued by Corporation / Nagar Palika
- Latest tax payment receipts
- Certificate for construction cost estimated and signed by the architect