Apply Here For Home Loan Services

The documentation process of Home loan for NBFC and banks are slightly different from one another, and so is their process. Documents required by Banks are: a) Signed Home loan application form b) As many passport size photographs required c) Identity Proof like; aadhar card, passport, PAN, Voter, Driving license, etc. d) Age proof like; Aadhar card, PAN, Birt Certificate, Bank passbook, etc. e) Residential Proof; LIC Policy Receipt, Passport, ration card, etc. f) Income documents; For salaried • payslip of last 3 months • Form 16 • Certified letter from Employer For self-employed professionals • Balance Sheet and P/L account • License for Practice • Proof of Business Address • Registration certificate of business g) Property Documents like; NOC from the builder estimated the cost of construction, Sale deed, building plan, etc. Documents required by NBFC are similar to the documents required by the bank with regards to the proof of identity, add...

  Documentation plays a crucial role in the whole process, as it helps the lenders to know their customers in a better way. Since the home loan is a secured loan, therefore, the documentation process is a bit complicated. Financial institutions and banks ask for various documents required for a home loan because of the following reasons: 1. To know the age and the nationality of the loan applicant: As home loans are a long term loan and the applicant should be at a certain age that he/she could repay the loan. 2. Financial documents tell the lender about your credit history and repayment capacity. For example, if you have ever missed any EMI or due payment for an existing loan, then it will be clearly visible in your bank statement. 3. The credit score is of utmost importance as if it is not as per the requirement of the bank or NBFC, then they will reject the loan application. READ:- Home loan application – What Documents Do You Need?