Faqs - L&T Finance

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What are the documents required for a Home Loan?

For salaried individuals, self-employed professionals (SEP), and self-employed non-professionals (SENP), documents like age proof (PAN, Aadhaar), address proof (passport, utility bill), photo ID, and income proof (bank statements, ITRs) are necessary.

Can I get a Home Loan without property documents?

Typically, no. Property documents are crucial for establishing ownership and assessing the value of a Home Loan.

What is the process of verification of Home Loan documents?

Once submitted, documents undergo scrutiny for authenticity and eligibility, followed by a field investigation to confirm the details.

Is Aadhaar mandatory for a Home Loan?

Yes, Aadhaar is usually required to verify identity and address.

What is the importance of ITR in the Home Loan process?

ITRs provide evidence of income stability and repayment capacity, which is vital for loan approval.

Which documents are required to avail of a Home Loan without ITR?

Alternatives include bank statements, salary slips, and Form 16, but requirements may vary by lender.

Can I get a Home Loan without a salary slip?

Yes, with other income proofs like bank statements or tax returns, depending on the lender's policies.

What income documents do I need to reduce housing loan EMIs?

Providing comprehensive income proofs such as detailed ITRs, bank statements, and salary slips can help negotiate better EMI terms.

What should be the language of the registration document?

The registration document should be in the regional or official language of the state where the property is located.

What documents are needed for the registration of an independent house?

Documents like the sale deed, property tax receipts, and identity proofs are essential.

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