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Can you Get a Home Loan Without Any Documents?

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Home loans are fairly easy to avail. There is no need to stand in queues in the lender’s office or run between branches to get your loan amount. Everything is online and you can apply for a home loan within minutes. All you need to do is fill out the application form and complete the formalities. However, to ensure that you get the loan approval, it is crucial to meet the eligibility and complete the required paperwork for the loan. Documentation is an integral essential of getting a home loan. So, if you are wondering if you can get a home loan without documents, the answer is no. Let’s find out why.

Can you take a home loan without documents?

No, you cannot get a home loan without documents. It is because lenders determine your home loan eligibility and repayment capacity through your documents. They also get to know your identity from the identity proof you submit. Similarly, they come to know about your property’s worth and value through the property documents you submit. Without documents, they will have no evidential proof and so no assurance that you will repay the loan.

 Documents to avail a home loan

You need the following documents to get a home loan –

Identity proof

A copy of any of the following:

  • Aadhaar
  • PAN
  • Driving license
  • Voter ID card
  • Valid passport

Address proof

A copy of any of the following:

  • Aadhaar
  • Passport
  • Driving license
  • Utility bills like electricity bill
  • A bank statement that contains your address
  • Rent agreement
  • Voter ID

Property documents

A list of property documents is given below. You need to furnish updated property documents required for a housing loan to get the approval.

  • Maintenance receipt and electricity bills
  • An approved copy of the building plan
  • Occupancy certificate
  • A detailed estimate of the construction cost
  • Encumbrance certificate
  • Sales deed
  • Title deed
  • No Objection certificate from builder/society
  • Payment receipt certifying payment made to seller/builder
  • Property tax recipes

Income documents

You also need to furnish income documents with the home loan application as proof of your repayment capacity.

For salaried applicants

  • Salary slips for the last three months
  • Bank statement for the last six months
  • Investment proofs
  • Form 16 or Income Tax Returns of the last three years

For self-employed applicants

  • Income tax returns with computation for the last two financial years
  • Audited Profit and Loss account and Balance Sheet duly attested by a Chartered Accountant for the last three years
  • Copy of the saving account of the applicant and current account statement of the business entity for the last six months
  • Shop and establishment certificate
  • Partnership deed (partnership firm) or Memorandum of Association (company)
  • VAT registration certificate
  • Professional qualification certificate/Certificate of practice
  • SEBI registration certificate
  • PAN and proof of address of the business 

It could be really challenging to get a home loan without proper documents. However, if you are unable to gather the documents, you can either contact your bank with whom you have a bank account or opt for a pre-approved loan. Both these options will help you avail a loan with minimum home loan documents.

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