Most home loan delays do not come from the bank saying no. They come from a missing paper, a mismatched name or an old statement. Keep the documents below ready before you apply and your file moves much faster.
- Salaried and self-employed applicants are asked for different income papers.
- Property documents are checked as carefully as your income, so start collecting them early.
- Names, addresses and signatures should match across every document.
- Home loans through our partner banks generally start at Rs. 50 lakh. Your adviser confirms the exact list for your lender.
Identity and address proof (everyone)
These are needed for every applicant and co-applicant.
- PAN card
- Aadhaar card or another officially valid address proof
- Recent passport-size photographs
- Proof of current address if it differs from the address on your ID
Income documents if you are salaried
- Last three salary slips
- Form 16, or income tax returns for the last two years
- Bank statements showing your salary credits, usually for the last six months
- Appointment letter or employment proof, if the lender asks for it
Income documents if you are self-employed or run a business
- Income tax returns for the last two to three years, with computation of income
- GST returns
- Business proof, such as registration, GST registration or a trade licence
- Bank statements, usually for the last six to twelve months, for both personal and business accounts
- Balance sheet and profit and loss statement where they are prepared
Property documents
The lender needs to be sure that the property has a clean, legal title and can be mortgaged.
- Sale agreement or allotment letter
- Title deed and the chain of earlier ownership documents for a resale property
- Approved building plan and any required no-objection certificates
- Society share certificate and maintenance receipts for an apartment
- For an under-construction property: the builder's approvals, RERA registration and the payment schedule
- Latest property tax receipt and electricity bill
Avoid these common delays
- A name spelt differently on PAN, Aadhaar and the property papers. Correct it before you apply.
- Bank statements with unexplained large credits. Keep a short explanation and proof ready.
- Missing co-applicant documents. If you add a co-applicant to improve eligibility, their KYC, income proof and bank statements are needed too.
- Existing loan statements. If you already have EMIs, keep the latest statements ready.
What happens after you submit
Once your documents are complete, the lender verifies them and values the property. Approval typically takes about 7 working days after documents are in, though it varies from case to case and depends on the lender and the property.
We compare offers across partner banks and NBFCs, help you assemble the file, and keep in touch with the lender for you. Approval, interest rate and terms are decided by the bank.
This article is general information, not financial, legal or tax advice. Figures and examples are illustrative. Finexa Capital (Priyanka Enterprise) is a loan referral partner (DSA). Final approval, interest rate and terms are decided solely by the lending bank or NBFC.