Income and its stability
Lenders assess how much you earn and how dependable it is. Salaried applicants are usually assessed on salary slips and Form 16; self-employed applicants on returns and audited financials over several years.
Eligibility & documents
What lenders look at, and what to have ready
General guidance to help you prepare before you apply. It is not an assessment of your eligibility — only a lender can make that.
Eligibility factors
The six things that usually decide the answer
Lenders weigh these differently, but almost every assessment comes back to some combination of them.
Existing obligations
Current loan instalments and credit card commitments reduce what is available for a new instalment. Lenders look at total obligations against income, not income alone.
Credit history
Repayment record on past and current borrowing matters. Missed payments, settlements and write-offs weigh against an application; a thin file with no history can also complicate it.
Age at application and maturity
Lenders set a minimum age to apply and a maximum age by which the loan must be repaid. That maximum often caps the tenure available to older applicants.
The property itself
Title, age, approvals, location and construction quality all affect whether a lender will fund a property and on what terms. Some properties are declined regardless of the applicant.
Your own contribution
Lenders fund a proportion of value and expect you to fund the rest from your own resources, along with registration, stamp duty and related costs.
Applicant types
How assessment differs by income type
Salaried applicants
- Assessed mainly on salary slips, Form 16 and salary bank statements
- Continuity of employment is commonly considered
- Variable pay such as bonus or incentive may be counted differently by different lenders
Self-employed and professionals
- Assessed on income tax returns and financial statements across several years
- Continuity and stability of the business is commonly considered
- Business and personal bank statements are usually reviewed together
Co-applicants
- Adding a co-applicant can change the assessed income and therefore the amount available
- Lenders have their own rules on who may be a co-applicant
- A co-applicant may be required to be a co-owner of the property
Document checklist
What to start gathering
A consolidated view across our services. Which categories apply depends on the product and your income type.
Identity and address
- Government-issued photo identification
- Proof of current residential address
- Recent passport-size photographs
Income - salaried
- Recent salary slips
- Form 16 or equivalent
- Salary bank account statements
- Employment confirmation where requested
Income - self-employed
- Income tax returns with computation for recent years
- Audited financial statements where applicable
- Business bank account statements
- Proof of business existence and continuity
Banking
- Bank statements for the period the lender specifies
- Statements evidencing repayment of any existing loans
Property
- Agreement to sell, allotment letter or title documents as applicable
- Chain of prior title documents where the property is a resale
- Approved plan and occupancy or completion certificate where applicable
- Latest property tax receipts
Existing loan (balance transfer only)
- Sanction letter and loan agreement from the current lender
- Statement of account and repayment record
- List of documents held by the current lender
Turn the checklist into a planning estimate
Use the free home-loan eligibility calculator to see how income, existing EMIs, rate and tenure interact. It is illustrative, not a lender decision.
A note on document safety
You will share documents with a lender as part of an application. You should never be asked for them through a website form, and you should never share an OTP, a net-banking password or card details with anyone, including us. This website does not accept document uploads and does not ask for Aadhaar or PAN numbers.