Loan Requirement
LOAN

Loan Requirement

Loan Requirement is an amount of money that an individual borrows from a bank or money lending company at a certain rate of interest to be paid with the EMI every month. The property is taken as a security by the money lending company for the Home Loan The property can either be commercial or personal in nature. When the borrower cannot pay the dues, the lender will possess all the legal rights to recover the outstanding loan amount by sale of the property in question.

Why Does a Home Loan Matter?

Loan Requirement make buying a home a reality for people who want to own property. Getting a home loan often takes a substantial investment (closing costs, down payment, time to apply), but these upfront costs can be recouped by a homeowner over time if their property value appreciates. Given the upside potential, it's little wonder why homeownership rates in the United States have historically averaged more than 60% since the 1950s.

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Documents Required For Applicant

KYC Documents
Home related documents
Copy of last 2 years Income Tax Returns of the applicant along with computation of income duly attested by a Chartered Accountant
Copy of last 2 Years Balance Sheet and Profit & Loss Account of the firm duly attested by a Chartered Accountant
Bank Statement for the last 6 months for the Savings Account & Current Account,
Copy of either Shop & Establishment License / VAT Registration or GST registration any other mandatory license / Registration
Copy of the Partnership Deed, Memorandum of Associations, Articles of Association (if applicable)
Copy of Tax Deduction Certificate / Form – 16A (if applicable)
Details of Contract (if applicable)
Copy of Advance Tax paid / Self Assessment Tax paid challan
Copy of Educational Qualification Certificate
Copy of Professional Practice Certificate
Salary Certificate (in case of doctors having salaried income)

Documents Valid As Address Proof

Rashan Card
Electricity Bill
Mobile Bill
Land Line Bill
Passport
Mool Niwas Patra
House Tax Slip
Water Bill Gas Bill
Aadhaar Card

Documents Valid As ID Proof

Pan Card ( Compulsory )
Aadhaar Card ( Compulsory )

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