Applying for a home loan takes you toward your dream home.

The general procedure to apply for a home loan is as follows:

1:Complete the loan application form and attach the documents:

The loan application form will require certain basic details about the applicant. Usually, this includes personal details, residential address, monthly or annual income, educational details, employment details, property details, the estimated cost of the property, the current means of funding the home property,  

2:Pay the processing fee:

Once you fill out the application and submit the documents to the bank, you have to pay the processing fee to the bank. the processing fee is collected for maintaining the applicant’s loan account. 

3:Discuss with the bank:

Once the applicant has completed the application and the  documentation process, he or she has to wait till the bank or the financial company verifies the papers. It usually takes about 1-2 days or may even take less if the submitted paperwork is accurate.

4:Evaluation of the documents:

The documents have to be accurate. 

5:The Approval Process:

Millions of people apply for home loans on a daily basis. To get an approval immediately, the bank has to make sure that the documentation is accurate. 

Also Read: All Home loan Eligibility - Check Eligibility Criteria & Apply Online

6:Processing the offer letter:

As soon as the loan is sanctioned, the bank sends an  official offer letter, which contains the following details: 

  • The loan amount that is authorized
  • The interest rate on the total loan amount 
  • Specifies whether the interest rate is variable or fixed
  • The loan’s tenure details 
  • The mode in which the loan is repaid 
  • the offer letter contains the Terms, policies, and conditions of the home loan.

7:Processing the property papers:

Post the acceptance of the offer letter by the applicant, the bank focuses on the home that he/she is going to purchase. Thus, it processes the papers related to the property.  

8:Processing a technical check:

Every lender is extremely careful with the loan they lend. So, they do a technical check. The bank sends a property expert to verify the premises an applicant desires to purchase.

9:Site estimation:

Once the expert completes the technical inspection of the site, it is then followed by checking the property’s final and comprehensive value.

10:The final deal:

Once the technical and site estimation is completed by the bank, the lawyer checks and clears all the paperwork. Post these, the final registration of the deal takes place. 

11:Signing the loan agreement:

post the completion of the document, the applicant has to sign the home loan agreement. 


The amount is disbursed to your account. The loan will be disbursed either in stages or completely depending on the stage of completion or construction. The disbursement agenda will be specified in the loan agreement. 

Also Read: All Home Loan EMI Calculator & Check Eligibility 

Following the above steps given above will ensure that your home loan application process will be smooth and hassle-free.