Negotiating and finalizing a housing deal takes a lot of energy and thought. And all your effort may go down the drain if you don’t get your home loan sanctioned. Ideally, keep all documents ready before you even think of applying for a home loan. However, every financial institution will have its own requirement list, so do a check. To make work simpler, here’s a list of all the documents you’ll need to provide as proofs:
1) A salaried person will have to provide a bank statement for the last six months of all operating and salary accounts.
2) Whereas, the self employed person needs to provide Profit /Loss statements for the last six months of all current accounts
3) Some ask may ask for photocopies of investments made, so just collate the needed papers.
1) Your original passport and photocopies
2) Be proactive and keep your voter’s ID card and PAN ready for authentication as well.
3) School leaving certificate or birth certificate
1) Your ration card and passport will provide the needed verification
2) If you are presently staying on rent, provide your rent agreement as well
3) However, if you are staying in company quarters, provide allotment letter from your company.
1) In case your co-applicant or you have changed your name after marriage you may need to provide a copy of the official gazette a copy of the newspaper advertisement publicizing the name change and your marriage certificate. Some banks may ask for it, some may not, but it’s just wiser to keep these documents ready.
1) if you are a salaried person, keep the last three months salary slips ready
2) A copy of your recruitment or a letter from your employer will also do
3) Self employed individuals will have to provide copies of your last two financial accounts, as prepared by your accountant.
4) For those who work as consultants, retainer ship agreement is a must
1) Original sale agreement with the builder / developer duly registered along with the registration receipt and photocopies of the same.
2) Land documents indicating ownership; photocopies of the title deeds
3) Certificate by the legal advisor of the builder to the effect that the builder has a good reputation and it is free from encumbrance and other charges.
4) Certified true copy of the approved plan
5) Allotment and possession letter is needed.
6) No objection Certificate from the developer, society or development authority as applicable should be provided.
Sale and Purchase:
1) If you are planning to buy a property, provide a copy of the successful sale and purchase agreement signed by both buyer and the seller.
2) If you are planning to sell or have already sold your existing property, provide a copy of that property’s sales and purchase agreement as well.
1) Commencement certificate granted by Corporation / Nagar Palika
2) Copy of order under the Urban land Ceiling act
3) 7 / 12 extract or property register card of the land under construction.
1) Form 16 of the last three years need to be provided
2) Last three years income tax returns duly filed and certifies by the Income Tax Authorities is also a must
3) And if you are applying for a home loan with a co-applicant similar documents and to be provided separately by the two of you
1) If you are self employed, you’ll need to produce your work identity, business card and work license
2) Even if you’re employed with a company, showing your and your employer’s visiting card would be needed.