Do I Need A Passport For A 2 Year Old Everything You Need to Know About the Home Loan Eligibility

You are searching about Do I Need A Passport For A 2 Year Old, today we will share with you article about Do I Need A Passport For A 2 Year Old was compiled and edited by our team from many sources on the internet. Hope this article on the topic Do I Need A Passport For A 2 Year Old is useful to you.

Everything You Need to Know About the Home Loan Eligibility

A home loan might be a quick fix to all your home-related financial woes, but like any other loan, your lender will require you to prove your worth before awarding you with the funds.

So, how do you go about it?

It’s quite simple. All you have to do is produce all personal/professional details to your lender. Here’s a list of eligibility criteria you need to meet to successfully avail of a loan.

1. Examining your Eligibility

You’ll have to fulfil certain criteria to convince your lender(s) that you’re cut out for the loan. Here’s your home loan eligibility criteria checklist that might vary slightly depending on your lender, while maintaining the same essence:

  • Valid identification proof (passport/voter identification/ driver’s’ license) to prove that you’re an Indian resident
  • You must fall within the 25-70 years age group
  • If you are a self-employed individual, you’ll need to submit proof that your business is at least 5 years old
  • Your loan amount must fall between the minimum and maximum amount offered by your lender
  • Your latest credit report with a score of 750 or more and a brief history of on-time payments and credit utilisation

2. Documents Required for Home Loan Sanction

Once you’re eligible, the financial institution lending you funds will require documented proof of your existence and financial stability. Here are the papers you’ll have to put up:

  • Complete Home Loan application with all your credentials
  • Latest passport size photographs
  • Proof of identification (voter’s identification/passport/driver’s license)
  • Proof of residence (voter’s id/water or electricity bill)
  • Proof of business address (in case of self-employed candidates)
  • Bank account statement for the past six months
  • Signature identification
  • Personal assets and liabilities statements in a proper format as stipulated by your lender
  • Detailed information about loans you’re already paying including details of the lender and securities mortgaged

If you’re a salaried individual, you’ll have to provide the lender with additional documents. Here’s a list to help you organise your papers:

  • Original salary certificate for the previous month
  • Tax Deducted at Source certificate – Form 16 or a copy of the IT returns you’ve made in the past two years acknowledged by the Income Tax Department

For a self-employed individual running an enterprise, the additional documents to be submitted are as follows:

  • Income tax returns made in the past three years acknowledged by the Department of Income Tax
  • Receipt copies of advance income tax payments

3. Property Documents Required for a Home Loan Sanction

When you put up your property for a home loan, the financial institutions will demand legitimate paperwork to clear it of any illegalities before the loan amount is sanctioned. Here’s a list of documents you might have to produce if asked by your lender:

  • Agreement of sale
  • Paid building and land tax receipts
  • Certificate of possession
  • Location sketch of the property certified by revenue authorities
  • Letter of allotment issued by housing board or private builder
  • Receipts of advance payments made towards purchase of the flat
  • Non-encumbrance certificate
  • Original NOC under Urban Land Ceiling Act, 1976
  • Copy of relative order if the land has been utilised for agricultural purposes
  • Original NOC from Housing Society or private builder
  • Detailed estimation of the cost of construction

A stellar paper trail is undoubtedly the best method to get your loan application approved because those pieces of paper justify your ability to repay a loan. You’ll have to think of it as a job interview. Every detail mentioned in your documents has to be legitimate to get the final nod of sanction from your lender.

Video about Do I Need A Passport For A 2 Year Old

You can see more content about Do I Need A Passport For A 2 Year Old on our youtube channel: Click Here

Question about Do I Need A Passport For A 2 Year Old

If you have any questions about Do I Need A Passport For A 2 Year Old, please let us know, all your questions or suggestions will help us improve in the following articles!

The article Do I Need A Passport For A 2 Year Old was compiled by me and my team from many sources. If you find the article Do I Need A Passport For A 2 Year Old helpful to you, please support the team Like or Share!

Rate Articles Do I Need A Passport For A 2 Year Old

Rate: 4-5 stars
Ratings: 3554
Views: 96791689

Search keywords Do I Need A Passport For A 2 Year Old

Do I Need A Passport For A 2 Year Old
way Do I Need A Passport For A 2 Year Old
tutorial Do I Need A Passport For A 2 Year Old
Do I Need A Passport For A 2 Year Old free
#Home #Loan #Eligibility

Source: https://ezinearticles.com/?Everything-You-Need-to-Know-About-the-Home-Loan-Eligibility&id=9305838

Related Posts

default-image-feature

Easy Gifts To Make For A 2 Year Old Girl Stupid Cupid-Valentine’s Day Mush and How to Spoil Your Loved Ones

You are searching about Easy Gifts To Make For A 2 Year Old Girl, today we will share with you article about Easy Gifts To Make For…

default-image-feature

Easy Crafts To Do With 2 And Four Year Old An Unusual Way to Get Rich – Create a Flea Market Small-Business Empire With Wholesale Products

You are searching about Easy Crafts To Do With 2 And Four Year Old, today we will share with you article about Easy Crafts To Do With…

default-image-feature

Easter Basket Ideas For 1 1 2 Year Old Boy Arts, Crafts and More at Kalanjali

You are searching about Easter Basket Ideas For 1 1 2 Year Old Boy, today we will share with you article about Easter Basket Ideas For 1…

default-image-feature

Easiest Way To Potty Train A 2 Yr Old Girl Tips For Potty Training Twins

You are searching about Easiest Way To Potty Train A 2 Yr Old Girl, today we will share with you article about Easiest Way To Potty Train…

default-image-feature

Easiest Way To Potty Train A 2 Year Old Boy How to Raise a Baby According to the Truby King Method

You are searching about Easiest Way To Potty Train A 2 Year Old Boy, today we will share with you article about Easiest Way To Potty Train…

default-image-feature

Downtown Los Angeles Classes For 2 Year Olds In Dtla How to Write a Constitutional Law Essay: Attack Sheet and Sample Essay

You are searching about Downtown Los Angeles Classes For 2 Year Olds In Dtla, today we will share with you article about Downtown Los Angeles Classes For…