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I do not have any income documents. Can I still get a online home loan?

Shubham Housing
I do not have any income documents. Can I still get a online home loan?

Most people in our country have no proof of income. This makes it very difficult for them to get a Online home loan, as banks and lenders often require payslips as a condition for claiming or even verifying eligibility for a home loan. If you are denied a home loans because you cannot provide a payslip, read on to find out how to secure a home loan. Home loans without proof of income are special loans for people who are not civil servants, private employees or entrepreneurs.

People without proof of income usually have uncertain and fluctuating incomes and do not have the documents to determine their economic status. This irregularity, coupled with a lack of documentation, often results in the rejection of their home loan applications, even if they qualify for it. Read on to learn how to avoid rejection and get a no-income home loans on fair terms.

How can someone get a home loan without proof of income?

While you must keep your property as collateral to take advantage of this loan, most banks will require you to provide proof of income. This can be difficult if you are unemployed.

If you want to use a loan without proof of income, the process is complicated and you may have to meet several additional criteria. You may need to take out a loan that doesn't require a lot of evidence. You can also choose a smaller loan size to increase your chances of approval.

To qualify for a loan against property without proof of income, you may need to meet other requirements. As a borrower, you can use various ways to take out a loan against a property without proof of income. Here are methods that can help you get a loan:

Make sure you qualify for a home loan in less than a minute


1.        Use with one patient - Having a borrower has many benefits. Not only does this allow the borrower to take advantage of the higher loan amount, but it can also act as collateral to the financial company about your ability to repay. Co-applicants are considered primary borrowers because they have proof of income.

2.        Check your banking activity - Before applying for a loan, always get an overview of your savings account activity, as banks tend to check bank statements carefully. The borrower must have a minimum balance or have sufficient funds. Stable banking transactions increase lending opportunities.

3.        Contact your relationship manager - A customer advisor is appointed for each account holder in a savings bank. He or she can help you through the loan application process and contact you. Having an open discussion about the lack of proof of income and reassuring you of timely payments can help with your case.

4.        Explain why you don't have proof of income - If you do not submit your income tax return in the current year or the previous year due to unforeseen circumstances or for important reasons, explain this to the person concerned. The loan officer takes your past income and calculates your ability to repay.

5.        Choose a lower loan to value (LTV) ratio - The percentage of the market value of your property that the bank can offer you as a loan is called the loan-to-value ratio (LTV). For example, if you choose an 80% LTV rate, the bank will cover 80% of the fees and you have to pay the remaining 20%. The chances of approving a loan without proof of income increase if you choose a lower percentage of the loan.

6.        Consider selecting a loan for main loan - In the era of digitalization and consumption, there are newer financing alternatives to choose from, such as crowdfunding and affiliate financing, where a group of people raise money for a common cause. Such advanced technology platforms offer faster loans without placing too much emphasis on income documents. However, you should be aware of the terms and other hidden fees imposed on these platforms.

Documents you need to apply for a loan against a property without proof of income and ITR

  • registration form
  • proof of address
  • proof of identity
  • Passport size photo
  • Check processing fees
  • Current Account (last 6 months)


Using a loan on property without proof of income can be very difficult. Check with different banks and see if you qualify for a home loan before applying.

Shubham Housing
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