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The video tutorial guides viewers through the home loan application process, emphasizing its importance and the need for accuracy in documentation. Once invited to apply, applicants have one month to submit their application. It's crucial to complete the IBA home loan application form with personal and contact information, including details about the employer and current rental situation. Properly filling out the form ensures the assessment is accurate and helps expedite the decision-making process. The video underscores the importance of providing all necessary supporting documents for a successful application.