Home loan for a freelancer

[Centuryblack9]

Hi Guys,

I quite my job 5 years back and since then I started freelancing (on Fiverr). This January I registered my business as proprietorship firm and before this I had received all my earnings on my personal bank account only. This year, I'm planning to get a home loan. I'm not sure what all details/documentation I need to prepare before discussing with the bank guys. Any advice would really help.

P.S.: Since, I was working on an individual level, I never had any balance sheet or P&L statement.

Thank you.

 

[Skylar]

Hi Guys,

I quite my job 5 years back and since then I started freelancing (on Fiverr). This January I registered my business as proprietorship firm and before this I had received all my earnings on my personal bank account only. This year, I'm planning to get a home loan. I'm not sure what all details/documentation I need to prepare before discussing with the bank guys. Any advice would really help.

P.S.: Since, I was working on an individual level, I never had any balance sheet or P&L statement.

Thank you.

I believe you can get a home loan as your land/house you are building will be the collateral.
problem would be negotiating interest rates.

 

[Kalyan]

Hi Guys,

I quite my job 5 years back and since then I started freelancing (on Fiverr). This January I registered my business as proprietorship firm and before this I had received all my earnings on my personal bank account only. This year, I'm planning to get a home loan. I'm not sure what all details/documentation I need to prepare before discussing with the bank guys. Any advice would really help.

P.S.: Since, I was working on an individual level, I never had any balance sheet or P&L statement.

Thank you.

Basis your ITR and banking you will be able to get a loan...