Essential Documents Required for Buying Property with Home Loan
Are you considering buying a property with the help of a home loan? Whether you're a salaried individual, self-employed, or a business person, there's a set of documents you'll need to have in order to proceed with your home loan application smoothly. Let's delve into the essential documents required for each category:
Document Type | Salaried Individual | Self-Employed Individual | Business Person |
1. Identification Proof | Passport/Driver's License/Voter ID | Passport/Driver's License/Voter ID | Passport/Driver's License/Voter ID |
PAN Card | PAN Card | PAN Card | |
Aadhaar Card | Aadhaar Card | Aadhaar Card | |
2. Address Proof | Utility Bills (Electricity/Water/Gas) | Utility Bills (Electricity/Water/Gas) | Utility Bills (Electricity/Water/Gas) |
Rental Agreement | Rental Agreement | Rental Agreement | |
Passport | Passport | Passport | |
Voter ID | Voter ID | Voter ID | |
3. Income Proof | Salary Slips (last 3-6 months) | Income Tax Returns (last 2-3 years) | Business Proof (Shop Act/GST Registration) |
Form 16 | Profit & Loss Statement/Balance Sheet | Income Tax Returns/Balance Sheet | |
Bank Statements (last 6 months) | Bank Statements (last 6 months) | Bank Statements (last 6 months) | |
4. Employment/Business Proof | Employment Certificate | Business Registration Certificate | Business Registration Certificate |
Appointment Letter | Business Profile | Business Profile | |
Professional Qualifications (if applicable) | Professional Qualifications (if applicable) | ||
5. Property Documents | Sale Deed | Sale Deed | Sale Deed |
Allotment Letter/Builder Agreement | Allotment Letter/Builder Agreement | Allotment Letter/Builder Agreement | |
Approved Building Plan/Layout | Approved Building Plan/Layout | Approved Building Plan/Layout | |
NOC from Builder/Society | NOC from Builder/Society | NOC from Builder/Society | |
6. Additional Documents | Power of Attorney (if applicable) | Power of Attorney (if applicable) | Power of Attorney (if applicable) |
Any other relevant documents | Any other relevant documents | Any other relevant documents |
Remember, these documents may vary slightly depending on the specific requirements of your lender and the type of property you're purchasing. It's always a good idea to check with your lender or a financial advisor for the most accurate information regarding document requirements for your home loan application.
By ensuring you have all the necessary documents ready, you'll be better prepared to navigate the home buying process smoothly and efficiently. Happy house hunting!