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2-min read

Planning to Buy a Home? Here’s Your Checklist to Get a Home Loan

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.

Anshika Bajpai |

Updated:May 13, 2019, 11:14 AM IST
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Planning to Buy a Home? Here’s Your Checklist to Get a Home Loan
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.
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

To know more, click here.

This content has been created in association with SBI.
(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
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