Home Loan Verification Process

The Home Loan application procedure is incomplete without the verification process. As part of this procedure, the lender verifies your profile and the property in question to further your application.

Clearing Home Loan verification (also known as housing loan verification) is an integral step to receiving approval for a sanction. Only once the lender is able to verify your profile and the property in question are you provided with the final offer in terms of loan amount.

The Home Loan verification process involves the confirmation and valuation of the real estate property to be purchased. The process is usually undertaken by banks and non-banking financial institutions to arrive at the final loan amount they are comfortable with providing. Lenders generally perform the Home Loan verification process themselves.

Doing this ensures that the actual Home Loan amount to be disbursed is an honest sum, adequate with respect to the property and its valuation. Applicants may need to submit some original documents for the Home Loan application process for 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.

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

1. Upon completion of the Home Loan application form, submission, and approval, you will be contacted by our agents for additional processing.

2. Our representative will contact you and explain the remaining application process in detail. To further your application, you will need to submit documents related to your income, employment, and financial details.

3. After this, a background check will be performed to assess the authenticity of the information provided (registered address, bank details, etc.)

4. Once your information is verified, your loan application is approved and you receive a Home Loan sanction letter

5. If you have finalized the property and wish to proceed with the transaction, we initiate the property verification process; as part of this process, the property papers are assessed from a legal point of view (undisputed ownership, regulatory approval, etc.) and the property itself is assessed from a technical point of view (age, building integrity, etc.)

6. Once the property is verified and the loan details are confirmed, you can request for disbursal You will need to make the down payment for the property before requesting for loan disbursal; once done, your loan can be disbursed is as few as 48 Hours*

Listed below are the documents an applicant typically needs to submit with a Home Loan application in India.

• Proof of Identity and Address
• Mandatory documents such as PAN card or Form 60
• Personal bank account statements, up to 6 months
• Recent salary slips, or Form 16
• Documents that validate a business vintage of up to 5 years in the current enterprise (for self-employed applicants only)
• Property documents (Agreement, Title Deed, Tax Receipts, etc.)

Please note, you may have to submit additional documents; these vary on a case to case basis and will be communicated to you as required

With Bajaj Housing Finance, you can apply for a Home Loan either online or offline. If you wish to apply online, fill our Home Loan application form to receive a call back on how to proceed with your application. If you are looking for an instant sanction, complete our Online Home Loan form. Fill out basic details and receive a digital sanction letter in as little as 10 minutes*.

Either way, with an online application process, one of our representatives will guide you on the documentation and verification. The verification process remains the same on our end, and you benefit from a thorough legal and technical check for your property.

*Terms and conditions apply