Home Loan Builder Purchase
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Home Loan Builder Purchase
Buying a house is one of the biggest dreams come true for most people and an extravagant affair altogether. Imparting life to such a dream requires a lot of effort from the buyers’ end and the best one can do to accommodate the home in their budget is through a home loan.
A home loan can be opted to buy a new house / flat or a plot of land where you construct the house, and even for renovation, extension, and repairs to an existing house
Unlike any other loans, home loans come with longer repayment tenure, as much as from 25 to 30 years.
A home loan interest rate can either be fixed or floating in nature. A fixed-rate home loan remains the same for a period specified by the bank. This type of home loan is immune to market fluctuations.
In the case of floating-rate home loans, the interest rate applicable varies based on the market fluctuations. It may or may not be beneficial for the borrower.
The home loan interest rate is much lower as compared to any other loan types available.
Documents Required
1. Pan Card – Applicant & Co-Applicant
2. Adhar Card – Applicant & Co-Applicant
3. Address Proof
– If Own: Latest Light Bill & Index-II
– If Rental: Rent Agreement, Latest Gas Receipt, Passbook, Passport, HR Letter
4. Latest 3 Month Salary Slip
5. Latest 6 Month Bank Statement (By Salary A/C)
6. If All Loan Statement of Account (SOA)
7. If All Bank Statement 1 Year
8. Current Company Confirmation Letter
9. If Increment Letter
10. Company ID & Appointment Letter
11. If Previous Relieving Letter
12. If Education Proof
13. Form No 16 Latest 2 Years with 26 AS
14. Soft + Hard Copy Photo – 2+2 Applicant & Co-Applicant
15. If Name Change – Applicant / Co-Applicant Marriage Certificate
16. IF Builder Cost Sheet
17. If Down Payment Receipt & Draft Copy
18. IF Agreement Copy
19. IF Rera Registration Certificate
20. NA Order
21. If Builder Master File & NOC
22. Building Plan Copy
23. IF Completion Letter
24. If Latest Light Bill
1. MSME or Udyam Certificate
2. Shop Act License
3. GST Certificate (if applicable)
4. Business Profile (if applicable)
5. Current Business Photograph
6. Latest 3 Years ITR (Income Tax Return) with 26AS statement
– If available, include Financial Audit Report certified by a Chartered Accountant
– Assessment Year (AY) – 21-22 (Financial Year: April 1, 2020, to March 31, 2021)
– AY – 22-23 (Financial Year: April 1, 2021, to March 31, 2022)
– AY – 23-24 (Financial Year: April 1, 2022, to March 31, 2023)
7. Tentative Balance Sheet as on Date (if available) certified by a Chartered Accountant
8. GST R1/3B – Latest 1 Year (if applicable)
9. Work Order (if applicable)
10. Purchase Order (if applicable)
11. Bank Statement – Latest 1 Year
– Include statements for Current Account, Savings Account, and Cash Credit Account (if applicable)
12. All Loan Statement of Account (SOA)
13. Address Proof for Office, Shop, and Factory
– If Own: Latest Light Bill, Index II, Latest Property Tax (if applicable)
– If Rental: Registered Rent Agreement, Notary Agreement, Current Account Statement for Address Proof
14. Aadhar Card and Pan Card for Applicant and Co-Applicant
15. Passport size Photos – 2 each for Applicant and Co-Applicant
16. Residential Address Proof
– If Own: Latest Light Bill, Index II, Latest Property Tax (if applicable)
– If Rental: Rent Agreement, Latest Gas Receipt, Passbook, Passport, LIC Policy, Telephone/Mobile Bill
17. Legal Document List for All Property Papers
18. Builder Cost Sheet (if applicable)
19. Down Payment Receipt and Draft Copy (if applicable)
20. Agreement Copy (if applicable)
21. Rera Registration Certificate (if applicable)
22. NA (Non-Agricultural) Order (if applicable)
– Include Builder Master File and NOC (No Objection Certificate) if available
23. Building Plan Copy
24. Completion Letter (if applicable)
– Include Latest Light Bill if required