Documents are essential for the approval process when applying for a home loan. In order to assess the borrower's legitimacy and calculate the loan amount and interest rate, lenders often seek documentation proving the borrower's identification, property ownership, and evidence of income. Therefore, this article will list all the important documents required for a home loan so that borrowers can have a hassle-free credit-securing process.
Documents required for home loan
Home loan applicants must provide a set of documents in order for their loan application to be granted, regardless of whether they are salaried or self-employed.
Here is the list of documents for a home loan one must present along with their application:
Identity proof
Voter ID Card
Aadhaar Card
Driving Licence
PAN Card
Passport
Residence proof
Bank Passbook
Aadhaar Card
Voter ID Card
Passport
Ration Card
Utility bills
Insurance Policy Receipt
Letter of address verification from a recognised public authority
Age proof
PAN Card
Aadhaar Card
Class 10th Marksheet
Passport
Birth Certificate
Bank Passbook
Driving Licence
Income proof
Documents for salaried applicants:
Form 16
Certified letter from the employer
Payslips for the last 2 months
IT returns for the past 3 years
Appraisal/Promotion letter
Investment proofs (if any) like FDs, shares, etc.
Documents for self-employed applicants:
Income Tax Returns (ITR) for the last 3 years
Proof of business address
Profit & Loss Account Statement and Balance Sheet of the Company/Firm attested by a registered CA
Business Licence Details
The licence of Professional Practice (e.g., doctors, lawyers, consultants, etc.)
Registration Certificate of Establishment (applicable for factories, shops, or other establishments)
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