Home Loans - Required DocumentationPosted by Nixon Clarke on May 14th, 2021 After determining to please take a mortgage loan for the acquiring your dream home, the first thing to that should be consider is the required documentation to get mortgages. If Business loans Point Cook of the important documents usually are not submitted then approval of the mortgage loan could get delayed and there may also be chances of application negativity. The procedure so you can get a loan starts with all the application form filling, before that you just comes through bank's site to understand about the required documents. Most commonly the documents asked from an applicant are; PAN card, Passport, Voter ID card, Ration card etc. Additionally, Clicking Here have different documentation requirements based upon: Purpose of loan Applicants category Loan amount Term of loan Documentation for Salaried People Last 3 months salary slips Updated salary certificate 2 years job continuity Appointment letter 2 years Form 16 6 months bank statement For private limited company employees, company profile Documentation for Self Employed People Business profile on company letterhead Last several years IT returns Chartered accountant certified income computation Last 3 years balance sheet & P/L account Last 12 months bank statement web hosting & business account For professionals, professional certificate copy Documentation for Property Khata certificate Last 13 years EC Latest paid receipt for property tax Last 13 years parent documents & rest link documents Already made payment receipts For old house purchase; seller's title documents & sale agreement For flat that is certainly newly constructed; construction or sale agreement & on builder's letterhead separation of total cost The other important point out keep note of are that banks always make sure that repayments to be created by borrower on home mortgages do not exceed 40% of his net salary & lend about 90% of amount borrowed. If your repayment record has been poor or had defaults for previous loans it may be very difficult to acquire approved to get a home loan.Like it? Share it! More by this author |