What Are the Documents Required for a Home Loan Application?

Home loans have increased to account for more than 22% of the Indian lending market in the fiscal year 2018. One of the leading reasons behind this growth is the lucrative benefits that home loans offer such as flexible tenure, substantial loan amount, etc. Thus, if you are planning to purchase a house or renovate your home, you can use this significant amount to feed your purpose.

To successfully avail a housing loan, you will have to meet some eligibility criteria and provide some documents required for a home loan.  Although documentation requirements vary between lenders, these are among the basic must-haves which a borrower will be required to submit.

  1. Address proof documents
  • Rent agreement
  • Electricity bill
  • Life insurance policy
  • Telephone bill

Along with this, there are other documents that you can provide as address proof such as credit card statements, tax receipts, etc.

  1. Know your customer documents

The KYC or know your customer documents include –

  • Aadhaar Card
  • PAN Card
  • Passport
  • Driving license
  • Voter ID card


  1. Income proof documents

The income proof documents that you can provide are –

  • Bank account statement for the last 6
  • Income Tax returns

Besides the above documents required for a home loan, a salary slip or Form 16 will be required if the applicant is a salaried employee. For self-employed individuals, additional documents like profit and loss statements will be required.

  1. Business vintage documents

Business vintage documents for a minimum of 5 years are one of the essential documents required for a home loan and have to be provided by self-employed individuals only. Such documents include –

  • Trade license
  • Partnership deed
  • GST registration certificate

In addition, you can also offer other papers like SEBI registration certificate, SSI registration certificate, etc. as a business vintage proof.

Besides the above-mentioned documents, you will also have to meet some home loan eligibility criteria while you avail such loans. The eligibility criteria are as follows –

  1. Self-employed individuals
  • Age- the age bracket provided ranges from 25 to 70 years.
  • Year of work experience- you will be required to have a working background for a minimum of 5 years.
  • Income- you should have a regular source of income with a considerable amount. Having financial stability will help you to reduce your home loan tenure, thus saving some penny.


  1. Salaried individual
  • Age- the age bracket ranges between 23 and 62 years.
  • Year of work experience- you should have an experience of 3 years at least.
  • Income- you should have a considerable salary and should be employed under a public or private company or an

You can make use of the home loan eligibility calculator to check your capability of such loans. In addition to the above, applicants should have a credit score of 750 or above. Having a good credit score lets you determine your home loan EMIs.

Also, a healthy credit score will help you get a loan at a low-interest rate. Apart from the interest rate, there are other charges that a lender applies on loan such as application fees, late payment fees, etc.

Several financial institutions and NBFCs provide home loans at minimal charges. There are several NBFCs that provide Home Loans at no part-payment and foreclosure charges and competitive interest rates against minimum documents. Some of them also offer a balance transfer facility, top-up loan facility, online account access, etc.

Apart from the above-mentioned documents, eligibility criteria and the interest rate, you should also gather information about the EMI tenure and application process. However, the application process of such loans is easy, and you can do so online. To apply, visit the official website of your lender and click on the ‘home loan online apply’ or ‘apply now’ option to fill the application form by sharing some necessary details. Once your application gets approved, a representative of your lender will visit you to guide you through the process.

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