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Home Loan Starting 6.70%*

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About Home Loan Verification Process

The home loan application procedure is incomplete without the verification process. This procedure guarantees that the amount to be disbursed to the borrower has been determined to be a precise amount. Home loan verification (also known as housing loan verification) is one of the ways lenders employ to Evaluate the property in question and ensure that the borrower has submitted all the required documents.

What is a Housing Loan Verification Process?

The home loan verification process involves confirmation and valuation of real estate properties. The process is usually undertaken by banks and non-banking financial institutions and it informs the lender to disburse an amount that's within a range the verification process deems suitable. Lenders can perform the home loan verification themselves.

Doing this ensures that the actual home loan amount to be disbursed is an honest sum. Your original documents used in the home loan application process are subject to housing loan verification. This is done to check that the property carries a clear title and that the home loan is paid to the rightful owner of the property for legal and credible purposes.

Note that lenders will ignore real estate properties without a clear ownership title. We have compiled a brief but detailed step-by-step guide to help you through the verification process.

Step-by-Step Guide to Home Loan Verification Process

Below is a step-by-step guide to help you through the loan verification process.

  • Below is a step-by-step guide to help you through the loan verification process. Upon completion of the home loan application form, submission, and approval, you will be contacted by our agents for additional processing.
  • To continue the online housing verification process, you will need to pay a certain fee online. Upon payment, kindly submit scanned copies of the documents required for home loan for issuance of the home loan.
  • After this, a background check will be performed to assess the genuineness of the information provided (registered address, bank details, etc.).
  • To maintain India's policy on home loans, you may be invited to discuss the reason behind your need for a home loan.
  • We begin the disbursement process upon completion of the housing loan verification.
  • Upon signing the property documents and submitting them, make the down payment.
  • A legal check of the important property papers is performed.
  • A technical check of the property may be performed. Property age, building integrity, and others are the components of the check.
  • Upon the fulfilment of the above steps, the loan amount is disbursed.

What Are the Documents Required for a Home Loan?

Here are the documents you need for a home loan in India:

  • Proof of Identity
  • Proof of Address
  • KYC Documents
  • Personal bank account statements up to 6 months
  • Recent salary slips or Form 16
  • Self-employed borrowers will submit documents that validate a business vintage up to 5 years
  • Property documents (House Purchase Agreement)

Please note that we may need you to submit additional documents if the need arises.

Start Your Online Housing Loan Verification at Bajaj Housing Finance

At Bajaj Housing Finance, we conduct our home loan verification process with utmost diligence because we value our clients greatly. We will Evaluate the property you desire to own and then weigh your repayment ability without any bias whatsoever.

We do this to guarantee that you have repaid or can repay your home loan with no problem. Also, our goal is to relieve the burden of the EMIs you pay as part of your loan.