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Buying a home with PNB Housing is simple and straightforward. Documentation and other procedures are kept to a minimum for your comfort. Proof of your identity, address, and basic property paperwork are just a few of the important documents that must be presented when applying for PNB Housing home loans.
When you are purchasing a property, it is mandatory to submit the relevant property documents with your home loan application. These documents validate the property’s existence, proof of sale, and other details such as ownership.
Property documents required for a home loan will depend upon the nature of the property. The common documents required are:
If you’re going for a construction home loan, the construction cost estimate along with the complete breakup will be required.
KYC documents are mandatory for obtaining a housing loan unless you are already an existing bank customer. These provide important information about the applicant, such as age, address, income, employment, income tax, etc. Bear in mind that home loan documents for income differ slightly for salaried and self-employed applicants.
Income proof is one of the most important documents required for home loan. However, PNB Housing has a special home loan product – Unnati, specially designed for individuals who do not have a formal income proof in place. But it is important to note that this type of home loan may come at a higher interest rate.
Yes, property documents are mandatory for a home loan because the loan is given against pledging the property as a collateral. The property should be sound in terms of legal and technical parameters for approval.
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