The minimum age to
get a housing loan in India is 18 years, every lending institution like Bank
and HFC (Housing Finance Company) will consider those individuals who have a
work / or business experience of minimum five (5) years at the time of
approving a home loan.
For salaried
individuals, the main essential documents are
(A) A letter from the
employer on the company’s letterhead confirming the employment of the borrower
/ applicant
(B) Last six (6)
months’ pay slips
(C) Form 16 & IT (Income tax) returns
filed for three (3) previous years
(D) Latest three (3) months’ bank statement,
from the bank where the salary is getting credited
(E) Age proof
(F) Address proof
(G) One guarantor
whose income is at least to the extent of the proposed EMI (equated monthly instalment) with income proof& net worth proof
(H) Copy of PAN card
(I) Employment ID
card, if available
(K) Copy of Passport,
if applicable;
(L) Proof of highest
educational qualification.
For self-employed
individuals or / professionals, all the same documents, barring letters from
the employer and pay slips, would be essential.
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