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o 3 month salary slip
o 6 month bank statement
o 2 year Form 16Documents Required for Home Loan Balance Transfer
There are many reasons why people transfer their home loan from one financial institute to another. Most prominent reason is lower interest rate which saves cost of borrowing. You must identify the objective of transferring the loan before actually doing it. The process of home loan balance transfer is not much different than applying for the home loan. That is the reason why documentation part is very important for transferring the home loan from one financial institute to another. The process not just includes the documentation but also the validation of documents. The documents are r validated by the bank or NBFC that you apply to. One has to accept that the reliability of a person for repayment is decided from the documents that the person has to offer. The documents of the applicant will describe if he/she will able to repay the loan amount or not. The prerequisite key documents for home loan transfers are the following:
Well, banks & financial institutes ask for numerous documents because of following reasons:
1.Pan card
2.Adharcard
3.if you are salared / businesmen
4.source if income
5.last 3 years statements
6.income not less than 3 lakhs annual income approximately
7.Electric bill
8.what kind of work do you are you salared or business these questions may arise in taking loan.
9.collateral security like any fd insurance and any other assets you have.in family name.for security reasons
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For housing loan, the following documents are required.
1. Agreement to sale/allotment letter between builder and buyer.
2. Income proof.
6..Previous six months. Bank statement.
4. Property papers.
5...Salary slips .prevuous six months.
6. Loan processing fee cheque.
7..Cancelled cheque.
8.
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For housing loan, the following documents are required.
1. Agreement to sale/allotment letter between builder and buyer.
2. Income proof.
6..Previous six months. Bank statement.
4. Property papers.
5...Salary slips .prevuous six months.
6. Loan processing fee cheque.
7..Cancelled cheque.
8.aadhar card, pan card .
9..If property in joint name, then joint holders papers alao
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Post closure of loan, documents required for handover of original Property documents
Power Of Attorney format for collection of original Property documents
In case of death of Loan Account holder:
Request letter from the Legal Heir/ Claimant/ Nominee(s) for handover of Property documents
Letter of relinquishment for relinquishing right (Nominee/ Legal heir) in favour of Legal Heirs/ Nominees/ surviving owners for handover of Property documents
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