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Documents You Might Need While Applying for a Home Loan

As most housing finance companies don’t share details about the required documents till the end moment, a Home Loan applicant is likely to remain in doubts about his/her eligibility for the loan. Thus, if you are planning to take a Home Loan, the first thing you need to check is the list of documents required for Home Loan. Though the same (list of documents) varies from one lender to another, some of the primary ones remain the same. Read on to find out the documents you need while applying for a Home Loan.

  1. Documents to Prove Your Age and Identity

As per the terms and conditions listed by NHB (National Housing Bank), an applicant must be a minimum of 18 years in order to qualify for a Home Loan. Therefore, if you are planning to apply for a Home Loan you must have the right documents to prove you are 18 above. Also, you must have legitimate documents to prove your identity and other details like your name, address etc.

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You can use the basic KYC documents like UIDAI card a.k.a an Aadhar card, your ration card, your driving license, or any other document issued by a government body which can act as a valid address, identity and age proof.

  1. Documents Related to the Property that You are Buying

The lenders will also need all the documents related to the property you are buying. The list includes the ownership certificate, purchase agreement, a document to prove the property is legally yours.

  1. Documents to Prove your Employment Status and Repayment Capacity

In order to prove your employment status and repayment capacity, you can use documents like ITR receipts, your salary slip of the latest month, your bank statement, your GST number etc. This will help the lender asses your monthly income and financial capabilities to gauge your repayment capacity.


Reference Read: Necessary Documents to Apply for a Housing Loan

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