Home Loan Sanction Process

When you apply for a home loan, you must comply with several regulations and follow specific steps before the lender disburses the amount. From filling the application form, to submitting the documents you must follow the process diligently. Similarly, the lenders have a specific procedure and rules that they adhere to for approving your loan. Let us look at the home loan sanction process.


The first step in getting your loan sanction is to submit the application form duly filled with necessary details and signed. Make sure that you know about the lender-specific documents beforehand and submit the form along with the necessary KYC (Know Your Customer) documents.

Although the documents required may vary from lender to lender, generally most lenders require you to submit basic documents like identification proof, income proof, residence proof, etc.

If you have already shortlisted a property that you want to buy, ensure that you provide the details of the same in your application form. Visit Here:

Today, since the lenders provide end-to-end digital solutions, applying for a home loan has become easier than before. You can easily apply for a loan online through the lender’s website or mobile application. The lenders also offer 24×7 online customer assistance service wherein the representative helps you fill the form and guides you through the entire application process.


Once you submit the application form along with the necessary documents, you must wait till the lenders verify the information you have provided to assess your financial credibility. The verification process is called loan appraisal.

The lenders evaluate your eligibility based on your income, age, occupation, credit score, liabilities (if any). If you are a self-employed professional or a businessperson, apart from this information, the lenders will also verify other details like nature of business/work, stability of income, entrepreneurial ability, etc. to determine your eligibility. For more information visit this site: f95zone

At this stage, the lenders usually send a representative to your home or office for verification, or they may schedule a call to validate the information.  And based on their assessment, the lender will then decide the maximum amount you can borrow and will communicate the details of the same through an offer letter.

The offer letter also contains other loan details, including the interest rate, loan period, and other terms etc. If you agree with the loan terms, you must submit a copy of the acceptance letter to the lender for further processing.

Finalising the property

If you have not finalised the property that you want to buy, after submitting your acceptance to the best home loan offer letter, you can focus on finding the right home for your family. Many lenders also help you find the right property at the right price.

Documents submission

Once you finalise the property you want to buy, you must obtain the necessary documents from the builder/seller such as the NOC, OC, agreement to sell, etc. to the lender. At this stage, the lender will appoint a legal team to verify the authenticity of the papers and conduct a physical inspection of the property. Some lenders even do a background check on the lenders and ensure that the property has a clear title and the seller, or the builder is not involved in a legal dispute.Visit The Site:

Disbursing the loan

If the lender is satisfied with the papers, they will proceed with the sanction process and disburse the approved amount as mentioned in the acceptance letter. Generally, in case of a new property, the lenders disburse the full amount in the name of the builder or the seller through online transfer.

At this stage, you must sign the final loan documents. Make sure that you carefully read the terms and conditions before signing the papers to avoid any legal hassle in the future.

Final Word

Now that you are aware of the home loan sanction process make sure that you adhere to every step and rules diligently to avoid any delay in getting the desired amount.

Read More About:

Related Articles

Back to top button