Home Loan Documents List: A home loan is a sum of money borrowed from a financial institution like a bank to purchase a home. Borrowers repay the loan through Equated Monthly Installments (EMIs).
To secure these loans, lenders require specific documents. Below is the list of essential documents needed for obtaining a home loan.
Home Loan Documents List
Here is the comprehensive list of documents required for a home loan:
- Loan application form.
- Three passport-sized photographs.
- Identity proof.
- Residence proof.
- Bank account statement/passbook for the last 6 months.
- Signature verification from the applicant's bank.
- Statement of liabilities and personal assets.
- Detailed property documents.
- Salary certificate (original) from the employer for salaried individuals.
- Form 16/IT returns for the past 2 financial years for salaried individuals.
- IT returns/assessment orders copies for the last 3 years for self-employed professionals.
- Challan as proof of Advance Income Tax payment for self-employed professionals.
- Proof of business address for non-salaried individuals.
- IT returns/assessment orders copies for the last 3 years for self-employed businessmen.
- Challan as proof of Advance Income Tax payment for self-employed businessmen.
Home Loan Documents for NRI Applicants
- A document establishing KYC.
- Salary certificate from the employer, stating the name as per the passport, designation, passport number, joining date, and latest salary in English.
- Salary slips for the last 3 to 6 months showing variable components like incentives and overtime.
- Latest IT returns (for NRIs filing taxes in India).
- Business documents like trade licenses and power of attorney for self-employed NRIs.
- Passport copy showing the residence visa page.
- Proof of employment by the government of the residing country like work permit or labor contract.
- Documents related to the property, including cost estimates from an architect or engineer in India.
- For salaried NRIs, income documents attested by an embassy official if there is no documented evidence for salary credit or remittance to India.
- Overseas bank statements for the past 6 months.
- Last 6 months’ NRO/NRE bank statement.
- If the applicant is unavailable in India when signing documents, a power of attorney must be produced.
KYC Documents List for Home Loan
Below is the KYC documents required for a home loan:
- Photo ID Proof (One required):
- Passport
- PAN Card
- Driving License
- Voter ID Card
- Residence Proof (One required):
- Electricity Bill
- Ration Card
- Telephone Bill
- Employment Letter
- Bank statement/passbook with address
- Proof of Age:
- PAN Card
- Passport
- Birth Certificate
- Driving License
- Bank Passbook
- 10th Class Marksheet
Home Loan Documents Checklist PDF
You can download the Bank of Baroda home loan documents checklist PDF from the link below:
Bank of Baroda Home Loan Documents Checklist
KYC Documents for Bank Account and Loan
Check the KYC documents required for various entities like individuals, NRIs, trusts, societies, political parties, and private and government companies from the link provided for the KYC process.
Read: SBI Home Loan Documents List 2022 PDF
