Home Loan Documents Required for Salaried Persons: A Complete Guide

Applying for a Home Loan as a salaried individual offers several benefits, including a feasible repayment option and an attractive interest rate. However, to ensure a smooth loan approval process, it is essential to have all the necessary documents ready. Proper documentation not only improves your eligibility but also speeds up the processing time.  

This blog provides a detailed guide on the Home Loan documents required for salaried persons, along with tips to avoid common mistakes and improve your eligibility. 

Eligibility Criteria for Salaried Individuals Applying for a Home Loan

Before diving into the documentation, it is essential to understand the eligibility criteria for salaried individuals seeking a Home Loan: 

• Age: Applicants must be within the age range of 23 to 67 years**
• Employment: Should have at least 3 years of employment with a public, private, or multinational company 
• Credit Score: A strong credit score, ideally above 750, increases eligibility and can lead to more favourable loan terms 
• Residence: Both Indian residents and NRIs are eligible to apply 

**The upper age limit is considered as age at the time of loan maturity. Additionally, the upper age limit is subject to change, depending on the property profile. 

Documents Required for a Home Loan for Salaried Persons

When applying for a Home Loan, salaried individuals need to provide a set of documents that substantiate identity, address, income, and property details. Here is a comprehensive list of the required documents***: 

1. Identity Proof 

• Aadhaar Card 
• PAN Card 
• Passport 
• Voter ID 
• Driving Licence 

2. Mandatory Documents:

• PAN Card 
• Form 60 

3. Address Proof

• Passport 
• Aadhaar Card 
• Utility Bills  
• Rent Agreement, if applicable 

4. Income Proof

• Latest Salary Slips  
• Form 16  
• Bank Account Statements  
• Income Tax Returns (ITR)  

5. Employment Proof

• Offer letter  
• Employment confirmation letter 
• Experience letters from previous employers (if applicable) 

6. Property Documents

• Agreement to Sale/Sale Deed 
• Title Deed of the property 
• Approved Building Plan 
• NOC from the housing society or builder 
• Property Tax Receipts (if applicable) 

7. Other Documents

• Recent passport-sized photographs 

***This is an indicative list. Your lender may ask for additional documents.  

Common Mistakes to Avoid While Submitting Home Loan Documents

When applying for a Home Loan, avoid these common mistakes to ensure a smooth application process: 

• Incomplete Documentation: Double-check all documents before submission to avoid delays 
• Discrepancies in Information: Ensure that the details on all documents are consistent and up to date 
• Outdated Financial Statements: Submit the latest bank statements and salary slips 
• Not Verifying Property Documents: Ensure all property documents are verified properly 

Tips to Improve Home Loan Eligibility for Salaried Individuals 

Improving your Home Loan eligibility can help you secure better terms and increase your chances of approval. Here is what you can do: 

• Maintain a good credit score of 750 or above 
• Pay off small loans and credit card balances before applying for a Home Loan 
• Add a financial co-applicant to increase your eligibility 
• Disclose bonuses, incentives, or rental income to demonstrate higher repayment capacity 

Having the right Home Loan documents required for a salaried person is essential for a smooth and hassle-free loan approval process. Verify document requirements with your lender to ensure that nothing is missed.