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Documents Required for Home Loan

When you apply for a Home Loan, a bank needs proof to verify your identity and assess your creditworthiness before sanctioning. It does that by requesting you to provide several documents. As such, you should ensure you provide all the documents required for Housing Loan as mentioned on the loan application form.

Here is a list of the primary Home Loan documents you need while applying for a home loan, along with specific documents required from salaried and self-employed Applicants.

Key Documents Required for Home Loan

• Home Loan Application Form duly filled and signed, available at your nearest Bank of Baroda branch or the bank’s website.
• 2 Passport size photographs ; one of which should be attested on the application form.
• Home Loan Application Form
  • Identity Proof Documents

    (Any government-approved document with your photograph on it)

    • PAN
    • Aadhaar Card
    • Passport
    • Driver’s License
    • Voter ID Card
  • Age Proof Documents
    • PAN
    • Aadhaar Card
    • Passport
    • Driver’s License
    • Birth Certificate
  • Address Proof for Home Loan

    The document should have your permanent address mentioned on it.

    • Aadhaar Card
    • Passport
    • Driver’s License
    • Bank Passbook
    • Utility Bills

Documents Required for Home Loan for Salaried Person

As a salaried individual, you need to provide all the Housing Loan documents mentioned above. You also have to give a few additional, income-specific documents, enabling the bank to assess your eligibility. They are as under:

• A duly filled Form 16
• A letter from your employer certifying your employment status and the duration of your employment
• Your salary slips of the last 3-6 months
• Your filed IT Returns of the last three years
• Investment proofs (shares, fixed deposits), if any.
• Account statement showing credit of salary.

Home Loan Documents Required for Self Employed

Self-employed applicants also need to provide a few additional documents certifying their source of income. These include

• Business address proof
• Their duly filed tax returns of the past three years
• Company Balance Sheet, Profit and Loss Statements, duly audited/attested by a Chartered Accountant
• Their business license/professional practice (for doctors, lawyers, etc.) documents
• Copies of registration certification for establishments like shops, factories, clinics, offices, etc.
• Account statement of business.

Property Documents Required for Home Loan

Apart from your basic and income-specific documents required for Home Loan, you also have to provide the documents of the property you intend to buy through the loan. These include:

• A No Objection Certificate (NOC) provided by the society or the builder
• The original, registered sale deed, letter of allotment or stamped agreement of sale, provided by the builder
• Occupancy Certificate for ready-to-move-in properties
• Maintenance and electricity bills, along with property tax receipts
• Original receipts showcasing any advance payments made to purchase the property
• A copy of the building plan for purchasing flats, villas, bungalows, etc.
• Original receipt showcasing the land tax paid, along with possession certificate issued by the relevant authorities.
• Bank account statements showing any payments made to the seller or builder.
• A detailed estimate of construction costs (in the case of construction loans).

To ensure your loan is approved without any hurdles, you must provide all the Home Loan documents mentioned in the home loan application form. You may also be required to provide few other documents based on your employment, property type etc. So, do you have your documents ready? Go ahead; apply for a Home Loan from Bank of Baroda today!