The Essential Home Loan Documentation Checklist You Need
10th Sept 2024
The process of purchasing your dream home can seem overwhelming, especially when it comes to compiling all the necessary documentation. At Aurum KuberX, we understand that the home loan documentation process can be confusing and time-consuming, which is why we have put together the list of documents required for home loans. So, whether you are a salaried person or a self-employed individual, just follow the list given below:
List of Documents Required for Home Loan for Salaried Individuals
1. Identity Proof: A copy of your Aadhar card, PAN card, passport, or driving license.
2. Address Proof: A copy of your Aadhar card, passport, voter ID, or utility bill (electricity bill, phone bill, gas bill, etc.)
3. Income Proof: A copy of your salary slips for the latest three months, Form 16 or Income Tax Return (ITR) for the last two years.
4. Employment Proof: A copy of your employment contract, appointment letter, or any other employment proof document.
5. Bank Statements: A copy of your bank statements for the last six months.
6. On-going loan account statement.
List of Documents Required for Home Loan for Self-Employed Individuals
1. Identity Proof: A copy of your Aadhar card, PAN card, passport, or driving license.
2. Address Proof: A copy of your Aadhar card, passport, voter ID, or utility bill (electricity bill, phone bill, gas bill, etc.)
3. Income Proof: A copy of your Income Tax Return (ITR) for the last two years, along with computation of income, Profit & Loss account, Balance Sheet, Audit Report, and Form 26AS of the latest 2 years.
4. Business Proof: A copy of your business registration certificate, GST registration, and any other relevant documents that prove the existence of your business.
5. Bank Statements: A copy of your current and saving bank statements for the last one year.
6. Details of Business Vintage or Continuity Proof of last 5 years.
7. GSTR-3B of the previous year.
8. On-going loan account statement.
What are the property documents required for a home loan?
The question that troubles most people is ‘What are the property documents required for a home loan?’ We have compiled a list of all the property-related documents that you need for a home loan application:
Builder Purchase Transaction
- Cost sheet for complete sanction.
Sale Agreement
- A copy of the sale agreement between the Seller and the buyer.
- TDS Receipt.
- Own contribution receipt and reflection on bank statement.
- Builder NOC.
- Builder account details.
In Case of Resale Home Loan
- Chain agreement: Number of owners from the first time of home purchase.
- Property Title Deed: A copy of the property title deed, which establishes the seller's ownership of the property.
- Property Tax Receipt: A copy of the property tax receipt for the last one year.
- Occupancy Certificate (OC).
- Completion Certificate (CC).
- Approved plan copy.
- Society maintenance receipt.
At the Time of Disbursement
- Sale agreement.
- TDS Receipt.
- Own contribution receipt and reflection on bank statement.
- Builder NOC or Society NOC (whichever is applicable).
- Seller account details.
Conclusion
Regardless of your profession, with Aurum KuberX’s expertise in home loans, you will be guided through the document collection process, which will expedite the loan process and increase the chances of your application being approved smoothly. Visit Aurum KuberX today!