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List of Documents For Home Loan

Building a home is almost everyone’s dream. More often, home is always a place where you know you can leave everything and leave and never have to question its presence when you return. But, the struggle of getting yourself that home is real. That’s where home loans help you out. Also, home loans are the ones that have the most benefits out of any loan. But, is there a struggle in getting yourself a home loan too? Let’s find out.

What Do You Need to Get Yourself a Home Loan?

The most important thing you need before anything else is a base set of documents to get your home loan.

Let’s just say you are going through banks to know the best home loan they have to offer you.

What are the things that you would be looking into? Wouldn’t it be things like the interest rate, tenure, tax benefits, and so much more? Of course, it would be. So, here let’s look at it a little more in detail.

Let’s say you find the State Bank of India to be the most suitable for you. Now, you would be checking the SBI Housing Loan interest rate, the reputation, the repayment options, and so much more.

But – one of the most crucial factors that you would mostly leave out would be – what the bank needs from you.

The most important thing that the bank needs from you would be – DOCUMENTS!

What Documents Do You Require to Get a Home Loan?

When acquiring a home, you must provide all applicable property paperwork with your home loan application. These documents confirm the property’s existence and provide confirmation of the sale and other information, such as ownership. The nature of the property will determine the property paperwork for a house loan. The following are examples of frequent documents:

  • a) From the Developer

Allotment letter, Builder Buyer Agreement, Payment Receipt, and Mortgage Permission from the appropriate authority.

  • b) Reselling Property
  • Purchase agreement.
  • All preceding deeds date back to the original allotment of the property.
  • The competent authorities issued a possession certificate and a land tax receipt.
  • The property map has been approved.
  • No Objection Certificate was supplied by the builder or society.
  • The seller is the beneficiary of the sale/conveyance deed.

When you are applying for a construction loan – you will need to provide a construction cost estimate as well as a thorough split.

  • c) Home Loan for the Salaried
  • Aadhar card, Passport, Driving Licence, Telephone Bill, Election Card, Ration Card, or any other Certificate from Statutory Authority can be used as evidence of address.
  • Income proof consists of the last three months’ salary slips, Form 16 for the previous two years, and the most recent six months’ bank statement.
  • PAN Card, Passport, or any other statutory authority certificate as proof of age.
  • d) Home Loan for the Self-Employed
  • Aadhar card, Passport, Driving Licence, Telephone Bill, Election Card, Ration Card, or any other Certificate from Statutory Authority can be used as evidence of address.
  • Income Proof – For business and ITR purposes, such as proof of business existence, last three years of income tax returns, accountant-certified balance sheets, and last 12 months’ bank account statement.
  • PAN Card, Passport, or any other statutory authority certificate as proof of age.

What are the Benefits of Taking a Home Loan?

If you take out a home loan – you are effectively developing an asset, as opposed to other loans that may be considered liabilities. In most cases, the value of this item will only increase with time. This makes obtaining a house loan more enticing.

  • a) Repayment Perks: Home loans are quite versatile. You can choose a repayment term of up to 30 years, allowing you to make monthly payments that are well within your means. You can choose an EMI and pay off the loan based on your financial situation.
  • b) Tax Perks: You can save a lot of money with a home loan, which is often regarded as the most effective tax-saving instrument. Sections 24, 80C, and 80EEA of the Income Tax Act allow you to deduct up to INR 5 lakhs in taxes.
  • c) Simple Process: From the loan application to the payment travel, the procedures at Home First Finance are easy and transparent. Our dedicated customer care team is always available to you.
  • d) Asset Development Benefit: Your home is an asset that can deliver the highest return on investment. Unlike an automobile, the value of this item will not depreciate.
  • e) Your Dream Home: A home loan may be able to turn your fantasy into a reality. It reduces the cost of buying a home.

Did You Know About Balance Transfer?

People move their house loans from one financial institution to another for a variety of reasons. The most obvious reason is a lower interest rate, which reduces the cost of borrowing. Before you transfer the loan, you must first determine why you are doing so.

The process of transferring a house loan debt is similar to that of applying for a home loan. That is why the documentation section is critical when transferring a house loan from one financial institution to another.

The procedure comprises not only document documentation but also document validation. The bank or NBFC to which you apply validates the paperwork. Accept that the dependability of a person for repayment is determined by the documents that the person has to supply.

The applicant’s documentation will describe whether or not he or she will be able to repay the loan amount. The following documents are required for house loan transfers:

  • Completed loan transfer application form (bank / NBFC)
  • Salary slips from the last three months indicate the breakdown of gross salary, which is the basic pay, and net salary after deductions, if any.
  • Bank statements for the last 12 months of the account from which the house loan EMIs were deducted.
  • Six months’ worth of bank statements, with salary credits updated within 15 days of the loan application.
  • If you are self-employed or a businessperson, you must produce documents establishing the existence of your business (for businesspersons) or academic qualifications (for professionals), as well as financial statements for both.
  • The loan statement copy and the entire set of documentation relevant to the property are currently in the hands of the current home loan lender.
  • Pan Card, Passport, Driving Licence, Voter’s ID card, and Employee identification Card (as identification verification and signature proof in the case of government employees).
  • Utility bill, voter ID, or Aadhar card as proof of address.
  • Proof of Age (Anyone): 10th or 12th Marks Cards / PAN Card / Voters ID Card.


Getting a home loan is always easy when you have the right set of papers and a good credit history. Also, remember, if you plan on a home loan in the future, every step down your CIBIL score counts. So, be conscious.

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