Documents required for Home Loan

loan documents

Home Loan

A house mortgage means a sum of cash borrowed from a financial establishment to buy a home at an agreed price of interest to be paid with the EMI each month. The property is taken as a security by the cash offering firm for the dwelling mortgage.

The property can both be business or private in nature. When the borrower can’t pay the dues, the financier will retain all of the authorized rights to get better the outstanding mortgage amount by sale of the property in query.

Fund Utilization

  • Construction of residential dwelling together with the acquisition of land, and it’s development.house loan check list
  • Purchase of residential dwelling together with the acquisition of land and its development.
  • Addition and Renovation of residential dwelling

 

Checklist of documents required for salaried employees

  • Application Form – Duly filled and signed with newest Photograph
  • Age Proof required as “Passport, Voter Id, PAN Card, Aadhaar card & any different Certificate from Statutory Authority”
  • Residence Proof required as “Telephone Bill, Ration Card, Voter Id, Passport, Driving License, Aadhaar card and any different Certificate from Statutory Authority”
  • Highest qualification certificates
  • Latest salary slips for three months or salary certificate (if demand by financial institution)
  • Form 16 and Income Tax return (with computation of Income) for last 2 years
  • Last six months Bank Statements for salary account & different account (if any)
  • Letter of yearly bonus –“if required by financial institution”
  • Copy of the Offer Letter of earlier employer “if employment is lower than one year in current organization”
  • Offer Letter, Increment Letter from the current employer or from earlier organization (if required)
  • Copy of sanction letter of loans and Track data of present loans (if any)
  • Processing Fee -Cheque in favor of Banks or monetary establishments
  • Copy of all property papers together with Sanction Plan (if property selected)
  • Sale deed or Agreement for Sale
  • Copy of the accredited plan for the proposed construction or extension
  • Detailed of price estimate or valuation report from Bank’s Panel Chartered Engineer or Architect
  • Property Tax paid receipt and Electricity Bills.

Checklist of documents required for self Employed & Professionals

  • Application Form – Duly filled and signed with newest Photograph
  • Age Proof required as “Passport, Voter Id, PAN Card, Aadhaar card & any different Certificate from Statutory Authority”
  • Residence Proof required as “Telephone Bill, Ration Card, Voter Id, Passport, Driving License, Aadhaar card and any different Certificate from Statutory Authority”
  • Highest qualification certificates
  • Last 12 months Bank Account Statements (self & enterprise) and for different account (if any)
  • Last three years Income Tax return (self and enterprise) with Profit & Loss Account & Balance Sheets duly certified or audited by a Chartered Accountant
  • A brief note on the nature of business, year of establishment, kind of group, and so on. (In case of self-employed)
  • Certificate & Proof of enterprise existence together with Business Profile
  • Copy of sanction letter of loans and track data for present running loans (if any)
  • Processing Fee -Cheque in favor of Banks or monetary establishments
  • Copy of all property papers together with Sanction Plan (if property selected)
  • Copy of the accredited plan for the proposed construction or extension
  • Detailed price estimate or valuation report from Bank’s Panel Chartered Engineer or Architect
  • Property Tax paid receipt and Electricity payments Bills.

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