Documents Required for Home Loan Application
Thinking of buying a home is easy, but getting a home loan is a lot more difficult task. As loan includes money, not just money, in fact, we are talking of the amount that is in lakhs and crores, so banks and other finance companies are very serious in checking the background of the applicant. The biggest reason is, they don’t want even a loophole to create any trouble in getting their back money. Therefore, before you begin the process, it is important to know what are those documents needed for the home loan application. A slightest of mistake in the documents or declaration can reject your application or I should say, it can shatter your dream of owning a home.
Home Loan Application Form
As the name suggests, the home loan application form is required so that you can furnish all the necessary details. In case, if there are other applicants for the home loan, then you will also have to fill details of the co-applicants. A home loan application form will always remain incomplete until it doesn’t bear your passport size photograph as well as the photographs of the co-applicants. You will also have to pay the mandatory processing/administrative fee at the time when you will submit your form. As this processing fee in generally non-refundable and vary from bank to bank, so avoid application in multiple banks or finance companies.