home loan

Documents required to apply for a home loan of upto Rs.20 lakh

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In a country like India, home loans have turned out to be the mainstream financing option for house purchase, especially for the economically challenged segment of the society. For the middle income earning group, shelling out a huge amount in a lump sum can be a challenge. With home loans up to Rs.20 lakh coming to the rescue, a good number of Indians have been able to fulfil their lifelong dreams of house ownership. 

These mid-ticket loans are easy to avail as they do not put heavy income requirements on prospective borrowers. Nevertheless, they always need to fulfil the eligibility and document requirements to avail the financing with ease. Let’s find out what documents one would need to submit when initiating the home loan process.

Documents required for home loan paperwork completion

The process to apply for a home loan online has thankfully done away with several redundant documentation requirements, thus bringing down the paperwork for these advances to a minimum. Today, individuals need to provide only a handful of documents to prove their eligibility for a housing loan in India

Below is the list of all documents one needs for a home loan application. Given that the eligibility requirements for salaried and self-employed individuals vary a little, the document requirements can differ too.

  • Proof of identity
  • Address proof
  • Proof of occupation
  • Documents establishing occupational stability
  • Proof of income

Lending institutions may ask for additional paperwork for home loans based on the borrowing profile that individuals must confirm before sending a loan application.

Also, if multiple sources of income exist for the borrowers, they can show a clubbed income threshold backed by the necessary documents to establish their repayment capacities. Projecting a high financial capacity allows the borrower to secure the advance at competitive home loan interest rates, thus keeping the financing affordable. For home loans upto Rs.20 lakh, such income backed with employment under a reputed company also improves the negotiation capacity of the borrower for favourable terms on the advance.

Keeping all the documents in place and submitting them when applying streamlines and fast-tracks home loan processing. 

Another way to experience fast and hassle-free processing of these advances is through pre-approved offers. Borrowers can avail these offers on home loans and loans against property, along with several other financial products. To check their pre-approved offers, borrowers need to provide only minimum contact details, including their name and phone number.

How to apply for a home loan of upto Rs.20 lakh?

Once individuals have arranged all the documents needed, they can move straight out to a home loan application with their selected lender. The process to apply for a home loan upto Rs.20 lakh is the same as for any other housing finance. Borrowers can choose to apply for a home loan offline or online. The former, however, cuts down on the time taken for application processing by eliminating various redundant steps involved in offline processes. It is thus advisable to choose the digital application option. Here’s how to do it.

  1. Visit the official website of the selected lender and navigate to the online application form.
  2. Fill up the form with required personal and financial details and recheck for accuracy.
  3. Attach necessary documents and submit the form.

If all the provided details are in place and documents verified, the approval for the home loan up to Rs.20 lakh shall come by shortly within the next 1 to 2 working days. In case the option for document submission is not available, individuals may submit the loan application form without it and complete paperwork through a doorstep collection facility later.


Like any financial commitment, applying for a housing loan requires much prudence. A home loan can help you achieve your dream of buying a house comfortably whereas negligence and a small mistake or a wrong decision may put you in a tough spot. While all home loans offer similar features and benefits, one should be meticulous when picking one from a plethora of home loan plans available in the market. So, to make things easier, here’s a borrower’s checklist for selecting a housing loan in India.

Knowing all about the housing loan process and housing loan EMI can be helpful when preparing to apply for a loan. That way, you will know exactly what you are seeking from the lender and whether or not the plan offered to you seems a profitable one.

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