Documents required to apply for a home loan for salaried person

Documents required to apply for a home loan for salaried person

Nowadays there are many banks and organizations that offer seamless process for home loan applications. With quick processing and attractive interest rates, a dream of owning a home has become quite simple. Documents required to apply for a home loan are more or less similar among various banks.

Here is a list of basic documents required to apply for a home loan for a salaried person:

Application form

You need to fill and complete the application form of the bank you wish to take a loan from.

Proof of Identification

You will need to submit one of the following documents for the proof of identification.

  • Voter Card
  • Aadhar Card
  • Valid Passport
  • Driving License
  • Ration Card
  • PAN Card
  • Bank Passbook

Proof of Age

As the age 60-65 is considered the age of retirement, loan lenders treat this as the maximum age limit for home loans. To get the benefit of home loan an individual needs to present proof of age document.

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

Address Proof

To apply for a home loan for a salaried person one of the documents is required.

  • Bank Passbook or Bank account statement
  • Voter’s ID
  • Ration card
  • Passport
  • Utility bill (telephone, electricity, water, gas) – less than 2 months old
  • LIC policy/ receipt
  • Letter from a recognized public authority verifying the customer’s residence address
  • Credit Card Statement not older than 3 months
  • Municipal or property tax receipt
  • Post office saving bank account statement
  • Documents issued by Govt. departments of foreign jurisdiction and letter issued by Foreign Embassy or Mission in India

Proof of Income

Proof of Income documents for salaried individuals

  • Form 16
  • Certified letter from Employer
  • Payslip (Last 2 months)
  • Increment or Promotion letter
  • IT returns (for 3 years)
  • Passport-size photographs
  • Investment proofs if any (like fixed deposits, shares, etc)
  • Certificate of Practice

Property Documents

  • Copy of complete chain documents of the property (as applicable)
  • Copy of Agreement to Sell (if executed)
  • Copy of the Allotment Letter / Buyer Agreement(if applicable)
  • Copy of Receipt/(s) of payment/(s) made to the developer (if applicable)
  • Original of the land tax paid receipt and possession certificate as issued by the revenue authority
  • Original No objection certificate (NOC) from the housing society or builder
  • Letter from the builder/society/housing board, stating their account number and name of their bankers for the remittance of instalments

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