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Home Loan Procedure Guide / Step for Buyer’s


Application for Home loan

The procedure for equity credit line begins with a proper application to the banks. In addition to the application, you need to provide your personal details for the bank to scrutinize & to assess your loan eligibility. Most Banks usually ask you for the subsequent documents.

The following documents are required, which is given below….

  • Identity Proof
  • Address Proof
  • Age Proof
  • Proof of the Educational/professional qualifications
  • Employment Details
  • Bank Statements
  • Income Proof
  • Pan Card
  • Property Details

Note: All the documents including the photograph of each applicant and co-applicant should be self attested.

Loan processing fee

Most bank charge will be 0.50% or 10000 + ST (Service charges) of the loan amount as processing fees.

Application’s Scrutiny and Verification

After you have submitted your application & the processing fees, the bank can evaluate your case and decide the amount you are eligible for. It generally takes 2-3 working days.                                                                             

Evaluation of Re – payment Capacity

Verification of the borrower’s re- payment capacity is the most crucial part of the home loan steps.

Offer letter for home loan

Stages in drafting an offer letter ……

  • Sanctioned quantity
  • Rate of interest applicable
  • Fixed or floating rate of interest
  • Loan tenure
  • Mode of re-payment
  • Special offer (if applicable)
  • Terms and conditions associate

Property Verification

Prior to disbursing the loan, the bank can verify the property. In the question, you’ll need to submit original copies of the title, no objection certificate and different documents the bank may ask for.

A legal check will be conducted on the property to establish that the title is clear in which there is no dispute.

Home Loan Disbursal

Once all the above-mentioned formalities are satisfactorily consummated, the registration method for the home loan commences.

The legal documents required to be ready in a very format approved by the bank’s professional person on stamp papers of needed denominations. Post this, you’ll be asked to submit post-dated cheques for the agreement term and sign the home loan agreement.



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