Hassle-Free Home Loans for Non-Salaried
For self employed professional the single document that shows all sources of income and is submitted to the IT department can be provided as the income proof while applying for a home loan.
Banks ask for this document along with income tax returns for the last three years. Apart from that they can also ask for your profit and loss, balance sheet duly approved by a certified chartered accountant.
2. The Procedure
More you convince the banker that your business is in a healthy position and doing well, less will be the chances of your loan getting rejected. The banker should have faith that your business and cash flow are in robust position.
Usually, banks ask for a personal meeting with the proprietors to get an insight on the business situations, actual margins and business mix and so on. Bankers also consider the net worth of the applicant.
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