Loan application checklist
To ensure you have the best chance of getting your new home loan approved, we’ve compiled a checklist of some of the information a lender may require when assessing your mortgage application. Remember that requirements vary between financiers, so confirm the exact documentation you will need directly with your mortgage broker.
Information
- Full employment history
- Current and previous addresses
- Details of your current assets – can, motorbike, boat, collectibles, and so on
- Your budget/knowledge of your income and outgoings
Employment Documentation
- Current records of your salary and other income – such as pay slips
- Latest tax return/notice of assessment
- Three years’ worth of tax returns – if self-employed
- A letter from your employer stating your wage and the tenure of your employment
Other documentation
- Proof of identity – 100 Point Check, including passport and drivers license
- Copies of recent credit card statements, confirming your credit limits
- Completed application for First Home Owners Grant
- Front page of the sales contract
- 6 months’ worth of bank statements, to confirm genuine savings pattern and provide proof of deposit/funds to complete purchase
- Statuatory Declaration stating that funds being gifted for the deposit do not need to be repaid (if applicable)
- Council rates notice for any properties you own, such as investment properties
- If purchasing an investment property, confirmation of rental income for investment property (real estate agency letter)
To discuss your new home loan or anything to do with your finances, please call our office today and we will be happy to assist you.
Disclaimer:
This article is written to provide a summary and general overview of the subject matter covered for your information only. Every effort has been made to ensure the information in the article is current, accurate and reliable. This article has been prepared without taking into account your objectives, personal circumstances, financial situation or needs. You should consider whether it is appropriate for your circumstances. You should seek your own independent legal, financial and taxation advice before acting or relying on any of the content contained in the articles and review any relevant Product Disclosure Statement (PDS), Terms and Conditions (T&C) or Financial Services Guide (FSG).
Please consult your financial advisor, solicitor or accountant before acting on information contained in this publication.
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