DOCUMENTS REQUIRED FOR HOME LOAN

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 for home loan will depend upon the nature of the property. The common documents checklist are:

For Developer property (Direct Allotment from the Developer)

  • Allotment letter, 
  • Builder buyer agreement, 
  • Payment receipt,
  • Permission to mortgage from the respective authority

For Resale Property

  • Agreement to sell
  • All prior deeds from the first allotment of the property
  • Sale deed/Conveyance deed in favor of the seller
  • Approved map of the property
  • Possession certificate and land tax receipt from relevant authorities
  • Builder or society provided No Objection Certificate

If you’re going for a construction home loan, the construction cost estimate along with the complete breakup will be required.

Documents Required for Housing Loan

Housing loan documents are mandatory for obtaining a house loan. 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.

Documents Required for Home Loan for Salaried

  • Address proof –  Aadhar card, Passport, Driving Licence, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority 
  • Age Proof – PAN Card, Passport, Any other Certificate from Statutory Authority
  • Income Proof – Includes salary slips of last 3 months, Form 16 for last 2 years, and latest 6 months bank statement

Documents Required for Home Loan for Self Employed

  • Address proof – Aadhar card, Passport, Driving Licence, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority, 
  • Age Proof – PAN Card, Passport, Any other Certificate from Statutory Authority
  • Income Proof – Pertaining to business and ITR, such as proof of business existence, last 3 years income tax returns, accountant-certified balance sheets, and last 12 months bank account statement

FAQs:

Can I Get a Home Loan without Income Proof?

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.

Are Property Documents Required for a Home Loan?

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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