Key takeaways
- Lenders check two things: you, through KYC and income papers, and the property, through its title and approvals.
- Salaried and self-employed applicants need different income proof, and every co-applicant needs a full set.
- Property papers depend on whether you buy from a builder, buy a resale home or build on your own plot.
- Names, addresses and figures should match across every document.
- Share papers only through official channels, and never share an OTP, PIN or password.
How a lender reads your home loan file
A home loan file has two halves. The first is about you: who you are, what you earn and how you repay. The second is about the property: who owns it, whether it is approved and what it is worth. The lender’s credit team checks the first, while its lawyer and valuer check the second.
Requirements vary by lender, by your type of income and by the property. Use this list to start early, then ask for the exact list for your case. If this is your first home, read our home loan guide for first-time buyers too. The home loan eligibility and documents section of our home loan page has a short version.
KYC papers for every applicant
Check that your name and date of birth match across PAN, Aadhaar and your bank records. A spelling difference is easy to fix now and slow to fix later. Each applicant and co-applicant usually needs:
- PAN card
- Aadhaar, passport, voter ID or driving licence as identity proof
- Address proof, if your current address differs from your ID
- Recent passport-size photographs
Income papers if you are salaried
Lenders want to see a steady salary that matches your bank credits. If part of your pay is variable, such as incentives, keep proof of it for the past year, as lenders may count only part of it. Once your papers are together, the eligibility calculator gives a rough idea of what your income may support.
Salaried applicants usually need:
- Salary slips for the last three to six months
- Form 16 for the last two years, or your ITRs
- Salary account statements for the last six months
- An appointment letter or employment certificate, if you joined recently
- Proof of any other regular income you want counted, such as rent
Income papers if you are self-employed
Lenders judge your income from returns and banking, so the figures should agree. Large cash deposits that do not match your ITR raise questions, so keep a short note ready to explain any one-off credits. Self-employed applicants usually need:
- ITRs for the last two to three years, with computation of income
- Profit and loss account and balance sheet, audited where required
- GST registration and returns, if registered
- Proof that the business exists, such as Udyam registration, a trade licence or shop registration
- Business and personal bank statements, usually for the last six to twelve months
- Statements and sanction letters of existing loans
Property papers for your type of purchase
The property list changes with how you buy. In every case the lender’s lawyer runs a title search and may ask for more, such as an encumbrance certificate or mutation records. For an under-construction project, many lenders also sign an agreement with you and the builder on how the loan is paid out. See which property papers lenders check.
Commonly asked papers are:
- New flat from a builder: allotment letter, builder-buyer agreement, UP RERA registration details, approved plans and payment receipts
- Resale home: the chain of earlier sale deeds, the agreement to sell, the seller’s loan closure letter if the home was mortgaged, and house tax receipts
- LDA or Awas Vikas property: allotment and possession letters, the registered deed, and freehold papers if it was leasehold, with the authority’s permission where needed
- Building on your own plot: the plot’s sale deed, a building plan approved by the LDA or relevant authority, and a cost estimate from an architect or engineer
Papers at sanction and disbursement
The lender keeps the original property papers until you repay the loan. RBI rules require lenders to return them within 30 days of full repayment, and the sanction letter must say where you can collect them. Ask for a written list of every original you hand over.
Once the loan is sanctioned, expect a second round of papers:
- The signed sanction letter and Key Facts Statement
- The loan agreement and the repayment mandate for your EMIs
- Receipts showing you have paid your own share of the price
- The registered sale deed or agreement, and original title documents for the mortgage
- Insurance forms, if you choose cover
Common gaps that slow a file
Most delays come from small mismatches. Check for these before you apply:
- Different spellings of a name across PAN, Aadhaar and the sale deed
- An old address on one document and a new one on another
- A missing link in the chain of title
- Construction beyond the approved map
- Unexplained cash deposits or bounced EMIs in bank statements
- Unsigned or incomplete pages in the application
Relevant loan assistance
Want a document list for your home loan?
Tell us about you and the property. A LoanBazzaar advisor gives you one checklist for your case and compares all major banks and loan providers.
Sources
How we write our guides
The LoanBazzaar editorial team writes these guides around the questions borrowers ask us most, in plain language. We update them when rules or common lender practice change. Spotted an error or something out of date? Tell us.
