Owning a house today has become a reality for a lot of people thanks to home loans, easy processes and documentation. So if you’ve set your heart on a house and can’t wait to make it your own here’s a checklist of documents you’ll need while applying for a home loan.
1) Filled in loan application.
2) Identification proof - The following documents can be used for the same;
● Driving licence
● Ration card
● Passport
● Voter’s ID card
● PAN card
● Bank passbook
● Employee ID
3) Age proof - The following documents can be used for this;
● PAN card
● Birth certificate
● Bank passbook
● Mark sheet of 10th class
● Passport
● Driving license
4) Residence proof - You can use the following documents as proof of address;
● Bank account statement or passbook
● Passport
● Voter’s ID card
● Ration card
● Any utility bill (telephone, electricity, gas, water) - not more than 2 months old
● LIC policy/receipt
● Letter by a recognised public authority verifying your address
5) Income-related documents
For salaried employees - You can use any one of the below for documentation;
● Form 16
● Certified letter from employer
● Payslip for the last 2 months
● Increment/promotion letter
● IT returns (of 3 years)
You also need to submit any investment proofs like fixed deposit, shares etc along with passport size photo.
For self-employed or businessmen - You can use any one of the following for income proof
● Last 3 years of income tax returns along with computation of income attested by a CA
● Last 2 years of Profit & loss account and balance sheet attested by a CA
Other than these, self-employed people need to submit the following;
● A little introduction about his profession or business
● Certificate of practice
● Investment proofs
● Receipt of advance tax payments (if any)
● Copy of Registration Certificate for deduction of Profession tax
● Copy of Registration Certificate of establishment under Shops and Establishments Act/Factories Act
● Passport size photographs
6) Property related documents - You need to submit the following documents related to your property;
● Original copy of sale deed or agreement of sale with the builder
● Paid receipts of the land and building tax
● Location sketch of the property certified by revenue authorities
● Possession certificate
● Letter of allotment given by the private builder/housing board/society
● Original receipt of the advance payments made towards the purchase of flat
● Letter from the builder/society/housing board stating your account number and name of your banker for remittance of instalments
● Detailed estimate of the cost of construction of the house
● Original copy of the NOC from the builder/housing society
● Original copy of the land tax paid receipt and possession certificate issued by the revenue authority
● Approved copy of the building plan
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This content has been created in association with SBI.