A mortgage is a loan in which property is used as collateral. The borrower enters into an agreement with the lender (usually a bank) wherein the borrower receives cash upfront then makes payments over a set time span until he pays back the lender in full. A mortgage is often referred to as home loan when its used for the purchase of a home.
- Application form and your latest photograph (2)
- Proof of identity for Residence: Copy of passport/voter ID card/driving license/PAN card
- Proof of address: Leave and License Agreement / Utility Bill (not more than 3 months old) / Passport
- House ownership Proof: Property Documents/Maintenance Bill/Electricity Bill
- Office Address Proof: Maintenance Bill, Utility Bill
- Office Ownership Proof: Property Documents, Maintenance Bill, Electricity Bill
- Business Existence Proof: Salary Copy for 3 yrs, Shop Establishment Act, Any Tax Registration Copy, Company Registration license
- Income Proof: Latest 2 years Income Tax Returns including Computation of Income, Profit and Loss Account, Balance Sheet, Audit Report, etc.,
- Bank Statement: Latest 1 year bank statement both current and savings.
- Investment Proof (if any): please submit if any investments like, Fixed Deposit, Shares, Fixed Assets, etc.
- Existing EMI: If any existing loan, please submit sanction letter, Payment Track Record.