In order to obtain a mortgage loan, the applicant must present a series of documents related to his KYC, history of the property he wishes to buy, income, etc., depending on the category of the client (employee / self-employed / merchant / NRI).
The required documents vary from bank to bank. Below are some lists of the most common documents required to apply for a mortgage in India.
15 You must have the required documents for a mortgage in 2021
- Loan application.
- 3 passport-size photographs.
- Identify the evidence
- Proof of residence
- Account statement/savings book for the last 6 months.
- Verification of the signature by the applicant’s bank.
- Declaration of personal assets and liabilities.
- Detailed ownership documents
- Employer’s payslip (original). (Employee)
- Form 16 / IT Declarations of the last 2 years. (Employee)
- Copies of IT appraisal/returns orders for the last 3 years. (Freelancer)
- Challans as proof of payment of the income tax deposit. (Freelancer)
- Proof of address for the self-employed. (Freelancer)
- Computer reports/copies of appraisal assignments for the last 3 years. (Self-employed entrepreneurs)
- Challans as proof of payment of the income tax deposit. (Self-employed entrepreneurs)
List of Documents Needed for NRI Applicants
- Document to configure the KYC.
- Employer’s salary certificate in English with name (according to passport), name, passport number, date of incorporation, last salary.
- Payrolls for the last 3 to 6 months with various elements such as incentives, overtime, etc.
- Latest TI declarations (for applicants filing TI declarations in the country).
- In the case of independent NRIs, business documents such as business license, endorsement agreement, power of attorney, etc.
- Copy of the passport with the residence visa side.
- Proof of employment from the government of the country of residence such as work permit, employment contract, etc.
- Real estate-related documents with cost estimates from Indian architects or engineers.
- Paid NRIs require income documents certified by an embassy official if there is no documented proof of salary credit or funds transfer in India.
- Copies of bank statements from abroad for the last 6 months.
- NRO / NRE bank statement for the last 6 months.
- If the applicant cannot be located in the country at the time of signing the documents, the person representing him must present a power of attorney.