When you apply for a home loan, it marks one of the most significant financial decisions of your life. To ensure a smooth approval process, it’s important to be aware of the home loan documents required beforehand. Submitting the correct paperwork not only helps avoid unnecessary delays but also improves your chances of quick approval. Let’s explore the complete home loan documents list in India to help you get started.
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Documents Required for Home Loan By Borrower Type
The home loan documents required may vary depending on whether you are a salaried individual or a self-employed professional. While salaried borrowers typically provide income proofs such as payslips and Form 16, self-employed applicants must submit Income Tax Returns (ITRs), CA-audited financial statements, and business registration details.
Below is the list of documents required for a house loan based on the borrower’s type:
Salaried Individuals: House Loan Documents Required
The home loan documents required for salaried applicants include:
- PAN card
- ID proof (PAN, Aadhaar, passport, voter ID, driving licence)
- Address proof (Aadhaar card, latest electricity bill/piped gas bill, ration card, property tax/water bill)
- Salary slips (last 3 months)
- Form 16/ITR (latest 2 years)
- Bank statements (last 6 months)
- Documents pertaining to the property you wish to purchase
Self-Employed Professionals: Housing Loan Documents Required
The home loan documents required for self-employed applicants include:
- PAN card
- ID proof (PAN, Aadhaar, passport, voter ID, driving licence)
- Address proof (Aadhaar card, latest electricity bill/piped gas bill, ration card, property tax/water bill)
- ITR (latest 2 years)
- Bank statements (last 6 months)
- CA-audited financial statements, including balance sheet and profit & loss account
- Proof of business existence, like a trade licence, GST registration, and PAN
- Documents pertaining to the property you wish to purchase
Here’s a quick glimpse of the list of documents for a home loan across both borrower categories:
| House Loan Documents Required |
For Salaried Applicants |
For Self-Employed Applicants |
| Basic KYC documents and proof of residence |
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| Form 16 or Income Tax returns for the last 2 years |
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| Pay slips (salary slips) for the last 3 months and bank statements |
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| Occupancy documents like Sale deed, title deed, approved building plan, etc |
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| Passport-size photographs with the duly filled application form |
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| Proof of business existence like trade license, GST registration, PAN, etc. |
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| CA-audited financial statements along with the balance Sheet and P&L |
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Please note that additional documents required for a housing loan may be requested depending on your individual profile and our policies at the time of application.
Mandatory Home Loan Documents Required for All Applicants
Regardless of the borrower type, a few of the documents required for a home loan in India are mandatory for all applicants. This home loan documents list includes basic KYC documents, PAN, and property-related papers.
The property-related documents required for a house loan typically include:
- Sales deed, stamped sales agreement of sale, or allotment letter
- NOC from the housing society or property developer
- Possession certificate and land tax receipt from the land/land revenue/revenue department
- Detailed estimation of the construction cost
- Bank account statement or payment receipt outlining all information related to any payments made to the property developer or seller.
- Occupancy certificates (applicable for constructed apartments)
Preparing this list of documents for a home loan in advance ensures that your identity, income, and property ownership details are verified smoothly by the lender.
Additional Home Loan Documents Lenders May Request
Depending on your financial profile and home loan type, lending institutions may ask for additional home loan documents required, such as:
- Co-applicant’s KYC and income documents
- Guarantor’s identity and financial proofs
- Other income or asset proofs (such as rental income documents or investment details)
Being prepared with these housing loan documents required can help you prevent any last-minute hurdles in your home loan application process.
Tips to Prepare the Home Loan Documents Required
Preparing your list of documents required for a housing loan in advance not only saves time but also improves your credibility as a borrower. Most lenders want to see that you are organised and financially responsible, and a well-structured set of documents reduces the chances of queries or repeated follow-ups. Here are some essential tips to keep in mind while preparing your house loan documents required:
- Keep Original Documents and Their Photocopies Ready: Always maintain both original home loan documents required and their clear photocopies.
- Ensure Your Documents Are Updated and Signed: Expired IDs, unsigned forms, or outdated statements are common reasons for delays or rejection. Make sure all the house loan documents required are valid from your end and reflect your latest details.
- Maintain Digital Copies: For a faster process, scan and store the documents required for a home loan in PDF format. Reputed lenders allow digital uploads through secure online portals.
Common Mistakes While Submitting Home Loan Documents Required
Even a small error in the house loan documents required can extend the time it takes to get your application approved. Hence, make sure to avoid the following mistakes while submitting the documents required for a home loan:
- Missing or Incomplete Documents: Forgetting even a few house loan documents required, such as recent bank statements or property tax receipts, can stall the loan application process.
- Expired Proofs: Lenders may reject applications with expired ID cards, old utility bills, or bank statements beyond the 6-month requirement.
- Incorrect Property Details: If the property documents required for a housing loan have spelling errors, mismatched survey numbers, or missing NOCs, your lending firm may put your application on hold.
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Preparations Beyond the Home Loan Documents Required
As important as it is to prepare the documents required for a house loan, it is only one part of the overall process.
There are several other steps you should take to improve your chances of approval and secure a favourable home loan interest rate.
An essential part of this preparation involves using the following home loan calculators to make informed financial decisions:
- Home Loan EMI Calculator: Estimate your monthly repayment obligations and plan your budget accordingly.
- Home Loan Eligibility Calculator: Assess your borrowing capacity based on income, property value, and other financial factors.
- Home Loan Prepayment Calculator: Evaluate potential savings on interest costs if you plan to prepay your loan.
Prudent financial planning, along with submitting accurate and up-to-date housing loan documents required, ensures a smoother approval process.
Ensure a Smooth Home Loan Process with SMFG Grihashakti
The various documents required for a home loan form the foundation of your application, which is why it’s best to have them prepared before applying for funds.
Beyond identity and income proofs, property-related papers such as the sale deed, builder agreement, and NOCs are also essential when arranging the documents required for a house loan.
At SMFG Grihashakti, we make the home loan application process easier through a seamless digital experience, including secure document uploads. With minimum home loan documents required, competitive interest rates, and convenient online tools such as home loan EMI calculator, you can apply for the funds you need with confidence.
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