Home loan for chartered accountants aims to provide financial assistance to CAs looking to purchase real estate properties. Several governments mandated policies are also available on such loans with the aim of reducing the overall burden on such individuals.
To successfully avail a loan for chartered accountants to purchase a house, individuals need to furnish KYC documents to verify their age, identity, and address.
Documents stipulating the income and spending habits of a practising CA have to be furnished as well, to establish his/her credibility. For this purpose, salary slips of employed individuals, and financial statements of business for entrepreneurs have to be duly submitted.
Many lenders also ask for bank account statements, to get an idea about the spending habits of potential borrowers.
Other necessary documents required during the home loan approval procedure are the property-related papers. These papers remain with the stipulated financial institution as till the entire loan amount is repaid in full.
Processing charges, document verification expenses, as well as legal and government-related costs, are the primary expenses to be borne by individuals in this regard.