Documents Required to Apply for Home Loan in 2023

A home loan is a great financing option to become the proud owner of your dream house. Filling up a home loan application with all the right details is crucial. Apart from that, borrowers also need to submit several home loan documents.

These home loan documents often determine whether your home loan application will be approved or rejected. Therefore, you must submit all the required documents to your lender on time. Follow the detailed home loan documents list to ensure you don't miss out on submitting anything.

List of KYC Documents for Home Loan

1. Proof of Identity (Any One Required)

One of the most important documents required for a home loan is identity proof. Housing loan applicants can submit their PAN card, Aadhaar card, Voter’s ID card, passport, or driving license. Submitting any one of them will serve as a solid identity proof of the loan applicant.

• PAN card
• Aadhaar card
• Voter's ID card
• Passport
• Driving License

2. Proof of Age (Any One Required):

Borrowers also need to submit one document as proof of their age. Given below are the documents that qualify as age proof -

• PAN card
• Passport
• Driving License
• 10th class mark sheet
• Birth certificate
• Bank passbook

3. Proof of Residence (Any One Required):

The residential address of the borrower is of supreme concern to the lender. Having the residential address will allow the lender to trace the borrower if they fail to make repayments on time. Given below are the address-proof documents required for a housing loan-

• Electricity Bill
• Telephone Bill
• Ration Card
• Passport
• Voter's ID
• Bank Passbook
• LIC Policy Report

Borrowers can also submit a letter from any recognized public authority verifying their residential address. Moreover, utility bills like telephone, gas, and water bills also qualify as sufficient proof of address.

4. Proof of Income

Both salaried and self-employed people must submit their proof of income while applying for a home loan. The documents required for a home loan for a salaried person include the following:

• Form 16
• Letter to prove increment or promotion
• A certified document from the employer
• Payslip of the last couple of months

Home Loan Income Documents for Self Employed

The documents that a self-employed person should submit as proof of income are as follows:

• The balance sheet of the company attested by a chartered accountant
• Profit and loss statement of the firm attested by a chartered accountant
• License of the business or an equivalent document
• Address proof of the business
• License that makes the person eligible for professional practice (in case of consultants, doctors, and more)

Note: People who receive their salaries in cash must contact the lender about what documents they should submit.

5. Property Documents

The property documents required for a home loan are as follows:

• Sales Deed or Title Deed
• NOC from builder or housing society
• Possession Certificate & land tax receipt
• Buyer Agreement or Allotment letter
• SaAn estimate of house construction by a civil engineer or architect
• Copy of the plans duly approved by the local authorities
• Payment receipt from the house seller
• Payment receipt from the developer if it's a new house

Documents Required for Loan Guarantor

• Passport Sized Photographs
• ID Proofs
• Address Proofs
• Liabilites Statement and Personal Assets
• Proof of Business Address
• Signature identification from present bankers

Home Loan Documents Bottom Line

All housing loan documents need to be self-attested. Remember that besides the documents mentioned here, your lender might also ask for additional documents. For instance, you will also have to submit passport-size photographs, bank statements from the last six months, details of other

Home Loan Documents FAQs:

1. What are the mandatory property documents required to obtain a home loan

The mandatory property documents to submit with a loan application include the original property deeds, agreement for sale, and more.

2. Can I get a Home Loan without property documents in India?

The housing loan can be availed without the property registration documents only of the said property is under construction. But after possession of the property,it needs to be registered after possession and you should get a completion certificate.

3. What is the Home Loan documentation process?

You need to submit all necessary documents for verifications to complete your application for home loan. You can submit hard copies or soft copies online to get this done.

4. How do I get a Home Loan with no documents?

You need all the necessary documents to avail of home loans.