Listing Of Credentials Essential For Applying For Home Loans

When change is the only constant, there are unprecedented changes taking place every day. With women being financially independent and responsible, they are stepping towards home loans. Women are dreaming of having their own home, and not anymore relying on the male establishment. It has been a very vital step for women that looks out to secure their finances in the future. A home is a property and has huge value in the coming years. To make it a little better and easier for women, the home loan for women has become a very common protocol for various financial institutions.

The rates of home loans are also low by various financial institutions to initiate the process of onboarding more women. When a woman takes up a loan, she tends to juggle various financial products and that is when she can manage finances better. However, the documentation process and eligibility stand the same for every gender. The risk and stability factor is the same and the loan works equally, so you must produce all your documents in the right place. If you feel there is some hurdle regarding the documents, you need to sort it out with your loan provider. For best help, take a look at all the important documents that you may need for your home loan application.

Identity Proof for a home loan

PAN Card (mandatory) or any Id gave below:

  • Voter Card
  • Aadhar Card
  • Valid Passport
  • Driving License
  • Photo Credit Card
  • Photo Identity card issued by Govt. body
  • Letter from a recognized public authority or public servant verifying the identity of the customer with a photograph (not more than 30 days old)

Address Proof for a home loan

Any one of the below documents:

  • Voter Card
  • Aadhar Card
  • Valid Passport
  • Letter from a recognized public authority or public servant verifying the identity and residence of the customer
  • Latest Utility bill
  • Rent agreement on stamp Paper
  • Bank Statements reflecting the address of borrowers of any commercial nationalized bank
  • Credit Card Statement not older than 3 months
  • Life Insurance Policy
  • Residence address Certificate /letter by the employer on company letterhead
  • Copy of Sale Deed of the property (residence), if owned
  • Municipal or property tax receipt
  • Post office saving bank account statement
  • Pension or family pension payment orders (PPOs) issued to retired employees by Govt. departments or Public Sector Undertakings, if they contain the address
  • Letter of allotment of accommodation from employer issued by State or Central Govt. branch, constitutional or dictatorial bodies, and community quarter undertakings, planned viable banks, monetary association, and planned companies. Similarly, leave and license agreements with such employers allotting official accommodation
  • Documents issued by Govt. departments of foreign jurisdiction and letters issued by Foreign Embassy or Mission in India

Property documents

  • Property Documents
  • Copy of complete chain documents of the property (as applicable)
  • Photocopy of Agreement to Sell (if executed)
  • Copy of the Allotment Letter / Buyer Agreement(if applicable)
  • Copy of Receipt/(s) of payment/(s) made to the developer (if applicable)

Eligibility criteria for women

Age criteria: The age criteria are there for the application of a home loan. Also, the designated age is 21 years, and it is followed by every loan provider and financial institution. If you are 21 years or more, you are eligible or apply for a home loan. Also, if you are below 21 years, you need to wait.

Credit score:

A home loan is a very high-value loan as it includes a huge amount of funds. It is very risky and demands a very good credit score. The generally asked credit score for a home loan for women is above 750. So, if you want a smooth and hassle-free approval process you need to have this score. In addition, A credit score speaks about your credit health, past debt and payment statement, and financial stability. Having a good score means you can take up the responsibility and burden of a home loan. Hence, if you need to convince your loan provider, you must negotiate with a good score.

Stable income:

A good income is important. It can be from employment or business. Income is important because you need to make the repayment on a monthly basis. For home loans, the EMI is also pretty high. Also, if you are taking the burden of a home loan, you must have a fat paycheck. Only then you can manage your EMI alongside your fixed expenses. When a loan provider finds out that your income is good to meet all the necessary expenses and an additional EMI burden, you will get approval.


Get a property from a well-reputed builder or at a good location. This is an easy way to convince the loan provider. Financial institutions will be interested in investing in a good property as they can recover the loan amount easily if you default.

Also, check “6 ways to increase your chances of getting a personal loan“.

Finishing up

Home loans for women will help every woman own their address. Thus, it is a piece of security, but make sure you meet the eligibility along with all the documents for a home loan approval.


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