The process of mortgage application is anything but simple. Quite rightly so, because the lender has to scan every aspect of your life and assess your financial health before it decides that you are mortgage worthy. Further, it’s a sizable amount to be repaid over the long term by you and the lender must know that you will be able to service your loan diligently through the tenure.

In order to judge your creditworthiness, your prospective lender will therefore ask you to submit a whole host of documents. The documentation process is rather rigorous, but you must understand that this is an important part of your loan application, so it has to be done well. The following are the documents you need in order to put together an impeccable ‘home loan application file’.

General list of documents required:

1. Completed loan application
2. 1 passport size photograph (including the one affixed in loan application)
3. Proof of identification: Electoral ID Card / Passport / Driving License / PAN card.
4. Proof of residence: Electoral ID Card / Passport / Electricity Bill / Telephone Bill.
5. Proof of business address, in case of non- salaried borrowers
6. Statement of bank account for the last six months

Documents specific to the following:

• Salaried Individuals
  1. Salary slips for last 3 months
  2. Bank statement for last 3 months
  3. Copy of identity card issued by the employer.
  4. Form 16 or IT Returns for the last 2 years

• Self-employed individuals
  1. Photocopies of IT Returns/Assessment orders for the last 3 years
  2. Balance sheet and Profit and Loss A/c for the last three years (Certified true Copy attested by Chartered Accountant)
  3. Proof of business address.
  4. Proof of business (Registration Certificate of establishment, Gumasta /Trade License, Sales Tax Registration etc.)
  5. Certificate of Practice-photocopy.
  6. TDS Certificates (Form 16A wherever applicable) 

Property documents as below:-

• If a flat is being purchased from the builder
  • Original copy of agreement for sale/ sale deed with the builder
  • 7/12 extract issued by the land authorities
  • Property register card, which is obtained from the City Survey Department
  • N.A. permission for the land from the collector,
  • Search Report and Title Certificate
  • Development agreement between owner of land and the builder
  • Copy of order under the Urban land Ceiling Act
  • Copy of building plans sanctioned by the competent authority
  • Commencement certificate granted by the Corporation
  • Building completion certificate
  • Latest tax receipts paid towards the land or property or flat to be purchased
  • Partnership deed or memorandum of association of the builders firm

• If the property being purchased is located in a Cooperative Society
  • Allotment letter from the Society in your name
  • Original share certificate provided the Society
  • Certificate of the registration of the society
  • No objection certificate from the society
  • 7/12 extract or property register card in the Society’s name
  • Copy of N.A permission for the land from the collector
  • Search Report and Title Certificate
  • Copy of order under the Urban Land Ceiling Act
  • Copy of the building plans sanctioned by a competent authority
  • Commencement certificate granted by Corporation
  • The latest receipts of taxes paid for the property
  • Original Agreement to assign / Deed of assignment

• If you are constructing a house on own land
  • Original sale deed of land and extract of Index II
  • 7/12 extract or property register card in your name
  • Copy of N.A. permission for land from the collector
  • Search and title report
  • Copy of tax paid under Urban Land Ceiling Act
  • Copy of the building plans sanctioned by a competent authority
  • Building permission granted by the Corporation
  • The latest receipts of taxes paid for your land
  • Estimate of the cost of construction certified by the architect

Putting together these documents may seem like an arduous task to you, but do go through the documentation process properly to ensure that there are no gaps from your end that may be the cause of your loan application getting rejected.