Home Loan Application Status
Home Loan Application Process
Once you apply for a Home Loan, the application moves through a number of stages. First of all, as an applicant, you are required to submit your home loan application form along with the list of required documents such as your identity, income, and address proofs. This helps the lender understand and evaluate your creditworthiness and decide your home loan eligibility. Your credit history may be influenced by factors such as your credit history, current debts, and obligations, age, and income. Next, the lender will evaluate property documents such as the title deed, layout, building plan, and map. At the same time, the lender conducts a physical inspection of the property. After this, the lender assesses the property value and decides on the final home loan amount. From here, it takes approximately another 15 days to verify the documents submitted and successfully process the home loan application. In some cases, it may even take a month or two based on the availability of all required documents. As evident, the entire process from home loan application to sanction is quite complex and therefore having a system in place to track its status can be helpful. It can save you a lot of time and help you plan your next steps.
Which Documents are Needed to Apply for a Home Loan?
While the exact list of documents may depend on the lender you choose, here we note down the general list of documents required when you apply for a Home Loan.
- Identity Proof: Voter ID, Passport, Driving License or Aadhaar Card
- Residence Proof: Voter ID, Driving License, Passport or Aadhaar Card
- Property Documents: property registration, Buyer agreement etc.
- Income Proof: Pay slips of previous 3 months, the Latest form 16, Bank statement and IT returns
- Business profile for self-employed applicants
What is a Home Loan Tracker?
Once you fill up your home loan application with a bank or non-banking financial company (NBFC) and submit it, you can go back and check the status of the application online, on your mobile device, or even offline. Most banks and NBFCs have online portals or mobile apps where you can check the status of your home loan application. This helps you stay up-to-date on which stage your application is in at any point in time and to know whether your home loan is going to be accepted. However, the details required to access the home loan tracker may depend on the specific lender.
What is an Online Home Loan Tracker?
An online home loan tracker is an easy-to-use service that allows you to conveniently track the progress of your home loan application from your choice of device, be it your computer, tablet or smartphone. This way, you can easily keep up with the following steps and upload documents quickly when required to speed up the process.
How to Check Your Home Loan Status with the Bank?
You can track your home loan status either online, on call or by simply visiting the bank’s branch. To check home loan status online, you will need to feed in specific details such as your mobile number, home loan application number or ID. If you want to track the application status via call, you can simply dial their customer care or representative’s number and share your application ID or reference number with them. They will help you access the result in no time. If you visit the bank’s branch in person, all you need to do is speak to a bank representative and share your home loan application/reference number; they will give you access to the information you need. No matter which mode you choose, make sure to keep a check on your loan status to avoid a delay in sanction due to unexpected issues.
How to Check Your Home Loan Application Status on Fincity?
If you are a Fincity customer, you can track your loan application online in clicks or via a single phone call. Here are the steps involved:
- Online: Follow the below steps to track your home loan application online.
- Click https://app.fincity.com and sign in.
- You can now view your active applications on the Fincity dashboard.
- Click ‘View Application’ under the one whose status you wish to check.
- You can view which stage your application has reached on the top-right section of the page.
- Via Phone: You can also choose to call the Fincity customer service number at +91 8296242646 and have a Fincity home loan advisor help you find out the loan status instantly.
How to Check Your Home Loan Application Status Online?
Most bank or NBFC offers customers the option to check their loan application online without having to step into the bank office. This is generally designed to be simple to use and a hassle-free way to check your home loan status. In order to proceed with this mode of tracking, one would generally need to provide one or more of the following details:
- Applicant Name
- Reference Number
- Pan Number
- Date of Birth
- Mobile Number
The digital revolution has made accessing details such as your application status not just easy but also safe. You can use a number of methods to check your home loan status online – some noteworthy ones being email, net banking and on the lender’s official website. Fincity customers can find their home loan status instantly by logging into app.fincity.com.
How to Check Your Loan Status via Email?
You can get access to your home loan status by sending an email to the authorized mail ID of either the customer care or the loan processing department of the bank concerned. Make sure to mention all necessary details related to your loan such as your application number, contact number mentioned in the application, etc. You will receive a response via email from the bank with details on your home loan status.
How to Track Loan Status on Bank’s Official Website?
Using the lender’s official website is the easiest and most common method of checking your home loan status. Although the relevant option or process of finding out the status of a loan may differ based on the bank or NBFC concerned, the information is generally available to the customer within a few clicks. Some lenders may ask for your application number and PAN Card number while others may also ask for your contact details and other personal details. It’s advisable to keep all loan-related information ready so you can enter them correctly if needed. Once you log in and click the right option, you will find the home loan application status on the screen.
How to Track Loan Status via Net banking?
You have the option to also track your home loan status online by logging into the lender’s internet banking portal. Sign into the lender’s net banking application, locate the loans section on the page and find out your loan application status.
How to Track Your Home Loan Application through your mobile number?
Since mobile number is unique to each individual, it is used as a point of reference for many lenders when it comes to tracking home loan applications. This method makes it easier for customers as well since it doesn’t require one to look for their application reference number. They can access the status in seconds no matter where they are. However, sometimes, a bank or non-banking financial company (NBFC) may also ask for the customer’s date of birth along with their specific application number or reference number.
How to Check Loan Status on Your Mobile Banking App?
First, visit the Google Play Store or Apple Store to download the lender’s mobile app. Fire up the app, locate the right option to check your home loan application status and enter required details such as your application number, mobile number and date of birth. Note that the specific location of the button to check application status may differ based on the banks or NBFCs concerned.
How to Track Home Loan Status by Your Application Reference Number?
As discussed earlier in this article, reference number is also a unique identifier – different for every single applicant. All you need to do is to keep the loan reference number handy and enter it in the required field when asked and you can see the home loan status immediately.
How to Check Your Home Loan Status Offline?
Some customers may find it more convenient to visit the bank’s branch in person, fill up and submit documents that are required and then later find out their loan application’s status via calls or by visiting the bank branch directly. Generally, it takes approximately 30 days for the bank to process an application and update you with the loan status.
Besides calling a representative of the financial institution directly to find out the status with the help of the provided application reference number, you can note the loan details, visit their branch and provide a bank representative with the loan reference number, mobile number and other application details to check and update you with your current home loan application status.