Documents Required for a Home Loan

Documents Required for a Home Loan

For home loans all HFIs require some documents but these vary based on your occupation, employer, qualifications, experience, etc.
Income documents
Proof of income, salary certificate, income tax returns, bank statement etc.
Personal documents
Proof of identity like PAN Card/ Voters ID/ Passport/ Driving License
Business proof
Proof of business address in respect of businessmen/industrialists
Age proof
This is required because all banks have different eligibility criterion as per age.
Experience proof
This is another eligibility criterion of banks, according to which the person should have a given amount of experience in the current company.
Legal Documents
There are legal documents that need to be submitted by you to the HFC for mortgaging and these differ from state to state and also depend on your property type. The following form a broad outline of the documents required: » Copy of the offer letter sent by the HFC, accepted by you » Title documents of the property which include: - Duly registered sale agreement. - Receipts of your own contribution - Allotment letter - Registration receipt - If needed, land documents indicating ownership - Possession letter - Lease agreement, if the property is bought from a development authority - Mortgage deed if the HFI opts for a registered mortgage » No Objection Certificate from the developer, society or development authority » Personal Guarantees, if required » Documents for alternate or additional security » Post dated cheques for the EMIs


Author: Editor

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