Documents involved in Home
Loan
Agenda
• Pre EMI calculation
• List of documents for residence Indian & NRI
• APF list
 Processing Fees
 Rate of Interes...
Objective of this chapter
• This chapter provides you with a list of documents that are
required for the processing of hom...
PRE – EMI Calculation
• Loan amount x Rate of Interest / 12 = Monthly Pre-EMI
• Loan amount x Rate of Interest / 365 = Per...
Processing Fees
An important thing to note about home loans is the processing
fee. Banks charge a processing fee for every...
List Of Documents Required For Loan
Process Resident Indian
•
•
•
•
•
•
•
•

Application form duly filled and sign
PF cheq...
List Of Documents Required For Loan
Process Resident Indian
• Appt letter / Relieving letter of previous employment (if
re...
List of Documents required to
process NRI Home Loan Application
•
•
•
•
•
•
•
•
•

Photograph duly signed.( Applicant & Co...
List Of Documents Required To
Process NRI Home Loan Application
•
•
•
•

Loan track record / Outstanding balance letter (i...
List Of Documents Required To
Process NRI Home Loan Application
•
•
•
•
•
•
•
•
•
•

HR Email ID for Employment Verificati...
List Of Documents Required To
Process NRI Home Loan Application
• Copy of ID & residence proof for Power of Attorney
• (In...
APF Process
•
1.
2.
3.

LIST OF DOCUMENTS REQUIRED FOR APF
Partnership Deed/Memorandum of Articles of Association.
Copy of...
APF Process
11
Copy of U.L.C Permission.
12
Copy of the Commencement Certificate.
13
Copy of plinth checking certificate.
...
APF Process
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•

HR Email ID for Employment Verification
Re-leaving letter for previous Employ...
Summary
•Processing Fees
•Rate of Interest Rate Factors
•Prime Lending Rate (PLR) or Retail Prime Lending Rate (RPLR)
•Lis...
Assignments
1. Prepare a list of documents that a IT Executive with two
years work experience would need to get a home loa...
F-HRE-03
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F-HRE-03

  1. 1. Documents involved in Home Loan
  2. 2. Agenda • Pre EMI calculation • List of documents for residence Indian & NRI • APF list  Processing Fees  Rate of Interest Factors  Prime Lending Rate (PLR) or Retail Prime Lending Rate (RPLR) List of Documents required for loan process Resident Indian  List of Documents required to process NRI Home Loan Application
  3. 3. Objective of this chapter • This chapter provides you with a list of documents that are required for the processing of home loans by banks.
  4. 4. PRE – EMI Calculation • Loan amount x Rate of Interest / 12 = Monthly Pre-EMI • Loan amount x Rate of Interest / 365 = Per Day Pre-EMI
  5. 5. Processing Fees An important thing to note about home loans is the processing fee. Banks charge a processing fee for every home loan application. This fees is non refundable. The processing fees varies from bank to bank and is generally between 0.50% to 1% of the loan amount. This fees is used by the bank to start and maintain the home loan process including completing the various formalities during the entire period.
  6. 6. List Of Documents Required For Loan Process Resident Indian • • • • • • • • Application form duly filled and sign PF cheque (in favor of ‘Housing Finance Institute’) Photograph duly signed. (Appl & co.app) ID Proof (Appl & co.app) Duly signed (Passport or pan card copy) Residence proof duly signed Appl & co.app (electricity bill/telephone bill/passport/letter from employer/org bank statement) Latest 3 months salary slips Latest form 16 Verification of employment form duly filled by employer or bonafide letter
  7. 7. List Of Documents Required For Loan Process Resident Indian • Appt letter / Relieving letter of previous employment (if required) • Latest 6 months original bank statement of salary a/c and saving a/c • Investment in brief • Statement of all existing loan a/c (if any) • NOTE: Document can vary case to case basis
  8. 8. List of Documents required to process NRI Home Loan Application • • • • • • • • • Photograph duly signed.( Applicant & Co-applicant) ID Proof (Passport) ( Applicant & Co-applicant) Marriage Certificate.( if Applicable) 6 Month Bank Statement.(Overseas salary account) 6 Month bank statement for NRE / NRO Account. (Processing Fee’s cheque from NRE/NRO Account. Last 6 months salary slips. W2 / Income Tax Proof. Credit Beauro Report. (Applicable to Applicants from US / UK / Australia)**
  9. 9. List Of Documents Required To Process NRI Home Loan Application • • • • Loan track record / Outstanding balance letter (if any) Latest salary enhancement letter Appointment Letter with annexure Official & personal Email ID
  10. 10. List Of Documents Required To Process NRI Home Loan Application • • • • • • • • • • HR Email ID for Employment Verification Re-leaving letter for previous Employer Latest Visa copy Updated C.V. Cost Break-up sheet of your property. Own Contribution Proof i.e. copy of source/s from which your Own Contribution is/will be paid. (OC is a difference between total cost & loan amount.) Copy of Overseas Tenancy Agreement Original POA to be attested by Indian Embassy Detailed address & contact numbers of Power of Attorney
  11. 11. List Of Documents Required To Process NRI Home Loan Application • Copy of ID & residence proof for Power of Attorney • (In case where we are clubbing spouse’s income please provide the same • set of documents as mentioned above.) • ** US Applicants can take their Credit Beauro Report from myfico.com • ** UK / Singapore / Canada Applicants can take their Credit Beauro Report from – experian.com • ** Australia Applicants can take their Credit Beauro Report either from Banker’s or from mycreditfile.co.au
  12. 12. APF Process • 1. 2. 3. LIST OF DOCUMENTS REQUIRED FOR APF Partnership Deed/Memorandum of Articles of Association. Copy of approved plan (Approved layout and building plans). Copy of the agreement between land owner/s and the developers. 4. Copy of the Power of Attorney. 5. Latest Property Card Extract / 7/12 Extract. 6. Latest Title verification Report and a detailed search report. 7. Draft copy of Agreement for sale. 8. Brochures on the project, if any. 9. Copy of the NA permission and receipt for the N.A Taxes paid. 10. Legal details duly filled
  13. 13. APF Process 11 Copy of U.L.C Permission. 12 Copy of the Commencement Certificate. 13 Copy of plinth checking certificate. 14 List of bookings with contact telephone numbers. 15 Affidavit from developers as per enclosed draft. 16 Any other relevant documents. 17 Cost sheet Details of payments to Land Owner Profile/ Background of the developer Details of Bank Account of project.
  14. 14. APF Process • • • • • • • • • • • • • • • • HR Email ID for Employment Verification Re-leaving letter for previous Employer Latest Visa copy Updated C.V. Cost Break-up sheet of your property. Own Contribution Proof i.e. copy of source/s from which your Own Contribution is/will be paid. (OC is a difference between total cost & loan amount.) Copy of Overseas Tenancy Agreement Original POA to be attested by Indian Embassy Detailed address & contact numbers of Power of Attorney Copy of ID & residence proof for Power of Attorney (In case where we are clubbing spouse’s income please provide the same set of documents as mentioned above.) ** US Applicants can take their Credit Beauro Report from myfico.com ** UK / Singapore / Canada Applicants can take their Credit Beauro Report from – experian.com ** Australia Applicants can take their Credit Beauro Report either from Banker’s or from mycreditfile.co.au
  15. 15. Summary •Processing Fees •Rate of Interest Rate Factors •Prime Lending Rate (PLR) or Retail Prime Lending Rate (RPLR) •List of Documents required for loan process Resident Indian •List of Documents required to process NRI Home Loan Application
  16. 16. Assignments 1. Prepare a list of documents that a IT Executive with two years work experience would need to get a home loan. 2. Get a copy of Form 16. What are its contents and its uses.

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