Are you planning to get home loan?
Are you looking for information about documents required for Home Loan SBI?
If the answer to the above questions is yes, then you might have landed on the right page. In this article, we will give you complete information about home loan checklist of documents. Presenting genuine documents for home loan to your lender is the most important factor to be considered while compiling documents.
List of Documents required for Home Loan
To form a genuine list, let’s take two categories:
- Salaried Professionals
- Self Employed
Home Loan Checklist for Salaried Professionals
Income Proof – If any lender is looking to lend you in lakhs, the first thing he will look is your income proof through salary slips. You have to provide last three month salary slips including an employment contract from your employer. If you are an off role employee appointed through placement consultant, then you need to present a retainer ship agreement. This will form the basis for home loan processing
Employment Proof - You are required to submit present company employment letter and if your experience with the current company is less than 2 years, then submit an appointment letter. Also add your photo copy of your identity card in the list of documents of loan
Residence Proof - In the residence proof, you can present your passport, latest telephone bill, electricity bill or a driving licence
Banking and Investment Proof – Among the list of documents of home loan, you also need to submit your bank account proof by submitting last six months bank account statements of your salary account and if you have invested in mutual funds or fixed deposit, do add a copy of that also. The bank would check your average monthly balance, transactions made in your bank account and check if there are any cheque bounces or not
Photograph and Age Proof – Bank can judge your current age from your passport or from your driving licence or a PAN Card. You also have to add your passport size photograph in case of single home loan and an additional photograph of joint owner in case of joint home loan
Property Proof – You can present registered Sale agreement of the residential flat between the builder and the home buyer. Your home loan documents would also include a certificate from the legal appointee and chartered accountant of the builder certifying that the builder has good reputation in the past and has not mortgaged the property with anyone else in open market
Home Loan OR Property Documents Required for Self Employed
Income Proof – Unlike a salaried professional, you need to show your last 3 years income tax return certificate to your lender duly attested by your approved chartered accountant. You also have to submit your last two years balance sheets of your company or business to your home lender that may be SBI or HDFC or any other bank
Business Proof – Though not required as a part of documents required for home loan, but you may also submit your last two or three years municipal registration proofs to your money lender
Residence Proof - In the residence proof for self employed also, the home loan applicant can present a passport, latest telephone bill, electricity bill or a driving licence to the bank
Banking and Investment Proof - Your property documents for home loan in India either with HDFC or SBI or some other bank would also include your last year current account statement and the transactions made in your saving account as well. Along with also disclose any kind of investments made in the form of equity mutual funds or PPF if any to your bank
Your photograph proof, age proof and property proof would remain the same as it was in the case of salaried professionals while completing your home loan documents checklist