Facebook Twitter Instagram
    Facebook Twitter Instagram
    Tut Flix
    Button
    • Home
    • Business
      • Digital Marketing
    • Technology
    • Education
    • Entertainment
    • Fashion
    • News
    • Health
      • Lifestyle
    • Sports
    Tut Flix
    Home»Business»Checklist of the Documents You Need to Present for Home Loan
    Business

    Checklist of the Documents You Need to Present for Home Loan

    AlbertBy AlbertJanuary 30, 2023No Comments3 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Having a home to call your own is a dream and a lifetime achievement for many. Additionally, it is a matter of great pride also. Creating a space with a custom design that meets your needs and exemplifies taste needs proper planning and resources. A home loan is one of the most suitable and preferred options to consider to fulfil the dream of your own home.

    Before you apply for a loan through banks, Non-Banking Finance Companies or any other option, you must prepare yourself. To apply for a home loan and hassle-free approval, the applicant must have all the documents handy.

    This post offers a checklist of documents you must have for quick and hassle-free approval of HDFC home loan applications or any other lending institution.

    • KYC Documents

    KYC (Know Your Customer) documents are mandatory for all loan applications. It would help if you had these before applying for the loan online or through direct selling agents. In KYC documents, you need to present documents to substantiate your identity. The documents include-

    • Proof of Identity like PAN Card, Aadhaar Card, Driving License, Passport, Voter ID Card, etc.
    • Proof of Residence like Telephone Bill, Electricity Bills, Bank Passbook or Statement, Employment Letter, etc., with your name and valid address.
    • Agre Proof documents like Driving license, PAN Card, Passport, etc.
    • Recent passport-size photograph
    • Income Proof

    Income proof is a statement that suggests your monthly income and shows whether you are eligible for the loan. The proof of income documents also tells your financial history to assess the loan eligibility as well as repayment capacity of the person. One must show these documents to get the home loan application processed to the next stage. The documents include –

    • Salary statements for the last six months
    • Employment letter
    • Bank account statement for the last six months
    • Form 16 (Part A & B both)
    • Income Tax Returns (ITR) for the last three years
    • Appointment letter/Employer certificate/Increment letter (whichever is approved and accepted by your lending institution)

    These documents are the most valuable as they determine your eligibility for getting the final approval for the loan amount. Also, it is suggested to present accurate data in the documents to avoid rejections.

    • Property Documents

    Banks and other financial institutions thoroughly inspect the property before approving the applicant. Thus, it is imperative to have all the papers ready. If needed, get in touch with the property developer to get all the required documents and attach them to the home loan application. Some useful property documents include

    • Agreement for sale with registration
    • Commencement certificate
    • Registration receipt
    • Chain contract of the previous owner
    • Sale Deed
    • NOC certificate from the developer

    The decision to buy a home involves great emotion; as said before, it is a matter of great achievement. Thus, getting all the documents and papers right before you submit them to the lending institution for verification is important. Never provide any misleading information, as it may lead to the rejection of the request.

    If you choose a professional and reliable vendor for processing the application, like Apnapaisa Loans and others available in the industry, you will get all sorts of assistance from them. The professionals help you throughout the loan application process and ensure you get final approval.

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Albert
    • Website

    Related Posts

    Responsibilities of DSA Partner in Completing Loan Application

    March 20, 2023

    The Importance of Financial Planning: How it Can Help You Achieve Your Financial Goals

    March 17, 2023

    3 ways getting funding affects employee performance

    March 16, 2023

    Leave A Reply Cancel Reply

    You must be logged in to post a comment.

    Recent Posts

    The Evolution of Kim Kardashian’s Style

    March 23, 2023

    Responsibilities of DSA Partner in Completing Loan Application

    March 20, 2023

    Poppygreens is a health and wellness

    March 18, 2023

    Mahesh Babu’s Legacy in Telugu Film Industry

    March 18, 2023

    2Analyzing the Impact of Action Movies on the Horror Genre

    March 18, 2023

    Sequoia Lps Sequoiakokalitchevaaxios

    March 18, 2023
    Categories
    • All
    • App
    • Automotive
    • Blog
    • Business
    • Digital Marketing
    • Education
    • Entertainment
    • Fashion
    • Food
    • Game
    • Health
    • Home Improvement
    • Law
    • Lifestyle
    • News
    • Pet
    • Real Estate
    • Social Media
    • Sports
    • Technology
    • Travel
    Facebook Twitter Instagram Pinterest
    • Contact Us
    • Privacy Policy
    Tutflix.co © Copyright 2023, All Rights Reserved

    Type above and press Enter to search. Press Esc to cancel.