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Updated List of Documents That Are Required to Get a Home Loan in India

Required to Get a Home Loan in India

The market for home loans in India grew from Rs. 4.6 trillion to Rs. 9.7 trillion between fiscal years 2012-13 and 2017-18. The main reason behind this growth is the easy availability of such credits from various financial institutions.

Applicants need to submit a set of documents required to avail a home loan along with an application form when they apply for such advances. Lenders conduct a verification of the concerned documents once they receive them. They also perform a physical verification process along with that. Applications are approved only after completion of the verification process.

Applicants need to make sure that there are no errors in the required documents that may lead to the rejection of their home loan application. The list of required documents for a home loan is provided below.



Identity proof

Applicants need to provide an identity proof with any of the KYC documents including PAN card, Voter ID card, Aadhaar card, driving license, passport, National Rural Employment Guarantee Act job card, etc.


Address proof

Borrowers can submit any of the documents including Voter ID card, Aadhaar card, driving license, passport, utility bill, etc. as their address proof. They should ensure that there are no errors in the document as lenders conduct a physical verification on the address.


Property documents

Applicants must provide the following property documents that are required for home loan approval.


Original sale deed.

Detailed cost estimation behind the construction of the property.
  • Proper location sketch of the property.
  • Possession certificate of the property.
  • Building and land tax payment receipts.
  • Receipt of any advance paid towards the purchase of an apartment.
  • Original copy of the No Objection Certificate (NOC) from the builder or housing society.


Passport-sized photographs

Financial institutions require a few copies of recent passport-sized photographs of borrowers for the loan application process.

List of specific documents required for home loan approval of salaried applicants

The list of particular home loan documents required for salaried individuals is mentioned below.


Income proof

Applicants need to submit their latest salary slips or Form 16 as their proof of income. Financial institutions determine the repayment capability of an individual with this document. Applicants with regular income source and the requisite proof will have a smooth loan disbursement process.

List of specific documents required for self-employed applicants

The list of particular home loan documents required for self-employed individuals is mentioned below.


Proof of business vintage

Lenders require applicants to submit the documents supporting vintage of their business. Borrowers must make sure that they have a business existence of 5 years and relevant documents associated with it.

Also, applicants may need to submit some additional documents to prove the existence of their business. The documents include partnership deeds, SSI registration certificates, and GST certificates.


Bank statements

Applicants need to submit updated statements of their bank account for 6 months before the date when they apply for a home loan online application procedure. Financial institutions determine regularity in the income of an individual with the help of this information.


Profit and loss statements

Self-employed applicants must submit profit and loss statements of their business for the previous 2 years. Financial institutions, with the help of this information, determine the repayment capability of an applicant.

Apart from all these documents, applicants may require to submit some additional documents depending on the lender. Thus, the whole process can take a lot of time and create a hassle for the applicants. For this reason, some financial institutions have curbed down the home loan eligibility criteria and reduced the number of documents required.

Some of the NBFCs also offer already-approved offers on such advances to make the process faster and smoother. Pre-approved offers are valid on several financial products and services, including secured home loans along with unsecured business loans and personal loans.

Along with the list of documents, borrowers should also check the eligibility criteria for such credits to ensure a smooth application procedure. They can use an online home loan eligibility calculator to know the amount they are entitled to avail.

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