The required documents also depend upon the scheme of loan, the period of the loan, individual bank profile, the purpose of the loan, etc.
You can also reduce your monthly loan payments, and interest rate by refinancing your current loan. In a refinance system, you can reduce your rate of interest by 2% or 3%. Which is enough.so you can also choose to Refinance my home Hawaii option. It is beneficial for long term loans.
Here are the various important documents required for applying for a fastest home loan in Hawaii. This will help to make a checklist and prepared with all important documents when you applying for a loan.
1. HOME LOAN APPLICATION FORM:- fill the home loan application form carefully one day before applying for a loan and always double-check the information you filled in the form
2. PASSPORT SIZE PHOTOGRAPHS
3. IDENTIFICATION PROOF ( id proofs)- identification proofs are must for applying for a home loan as without these no one can apply for the loan. you can take any one of the following proof:-
a. Pan card
c. Voter id card
d. Driving license
4. AGE PROOF:- proof of age is also necessary for applying for home loans. any one of below can use as age proof.
a. 10th class mark sheet
b. Driving license
d. Pan card
e. Bank passbook
5. RESIDENCY PROOF:- proof of residence is also needed for applying for a home loan, you can use any of the following proof as residency proof
a. Electricity bills, water bills
b. Bank passbook
c. Voter id card
d. Ration card
e. LIC policy receipt
6. INCOME PROOF – Income documents are a must for applying for a home loan it can be different for self-employed people and salaried people.
For self-employed people, the income documents must be income tax returns, business license details, proof of business address, balance sheet and profit and loss statement, the license of professional practice like if you are doctor, consultant, etc.
For salaried people, documents are certified letter from employer, payslip, the increment of promotion letter, IT returns.
7. PROPERTY PROOF AND DOCUMENTS
a. Registered sale deed
b. Property tax receipts, electricity bills, maintenance bills
c. Full estimation of cost of construction of house
d. Approval copy of house plan
e. Occupancy certificate
All these are basic important documents needed for verification when applying for a home loan, however, some document requirements may vary from bank to bank or lender to lender. but these above documents and proofs are a must for applying for a home loan.