Are you planning to purchase your dream home? Do you know your financial requirement problem can be solved by a Home Loan? But, what if your Home Loan application gets rejected?
This is the reason, you should be aware of the required documents for Home Loan as well as eligibility criteria such as:
> Be an Indian citizen
> Age between 23-58 years
> Be a working professional with the work profile of not less than 3 years
To find whether you are eligible for a Home Loan or not, you can try the eligibility calculator. It is an online tool that helps you know how much amount you can afford. The loan amount is calculated on the basis of your age, total take-home salary and selected loan tenor.
Apart from the eligibility criteria, you also need to submit some necessary documents to get a loan approval. Some of those documents are duly filled application form; KYC documents such as Aadhaar Card, Passport, Voter ID Card, or Driving; address proof such as Aadhaar Card, Passport, Voter ID Card, or Driving; identity proofs – Anyone out of PAN Card, Aadhaar Card, or Voter ID; passport-sized photographs; Form 16 and latest salary slips and last 6 months’ bank account statements.
To know more about it, read:
List of Documents Required to Process a Home Loan
Aman Khanna is an experienced financial advisor who is well known for his ability to foretell the market trends as well as for his financial astuteness. He has an MBA in finance from Toronto University as well as years of experience delivering seminars on sound financial practices and debt management.