For salaried customers:

* Application form with a photograph, which should be signed by all of the applicants.

* Salary-slips for the last three months. This may again differ from bank to bank, some of whom may ask you for six months salary statement.

* Form 16 and/or income tax returns are necessary to satisfy the lender.

* Banks and housing finance institutions would require a six months bank statement or more.

* Identity, age and residence proof.

* Processing fee/cheque.

Self employed/professionals

* Application form with a photograph, which should be signed by all of the applicants.

* Identity, age and residence proof.

* Proof of business existence.

* The previous three years CA certified/audited balance sheet and profit & loss account.

* Bank statement for the last six months.

* Processing fee/cheque.

Before going in for a home loan its best to check a host of things like the processing fee charges, interest rates, time for disbursal etc. Please note that all these things differ from housing financial institutions and banks. For example, housing finance companies provide excellent service, but their interest rates could be marginally higher than those for banks. Banks, especially the public sector undertakings provide excellent interest rates, but, are unable to provide the much needed service. Also, one needs to look and see how long it would take for disbursal. Some banks take as long as 45-days, while others could approve in just one week.

As per a data from Reserve Bank of India (RBI), growth in outstanding home loans in absolute terms was Rs 7,200 crore on a month-on-month basis in October compared with a growth of Rs 3,046 crore in October 2011. There is a renewed demand for home loans.

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