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Home loan application checklist

A handy checklist to what you’ll need before applying.

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Step-by-step guide to applying for a home loan.

Proof of identification

You will be required to provide a minimum level of identification documents to prove your identity. These may include:

  • Australian passport or foreign passport and an Australian visa grant notice evidencing an Australian resident visa
  • Australian drivers licence or Photo ID Card
  • Change of name or marriage certificate
  • Full birth certificate, citizenship certificate or descent certificate
  • Medicare, Centrelink or Department of Veterans’ Affairs card.

Please speak to one of our home loan experts for more information.

Income

Wage/salary income

  • Most recent payslip no more than 6 weeks old
  • For casual employees the 2 most recent payslips are required
  • Latest Group Certificate/PAYG Summary or full copy of latest personal tax return – Tax File Numbers removed/crossed out
  • Signed Letter from Employer – including Employers ABN/ACN, employee’s gross base annual salary and length of employment.

Self employed

  • Last 2 financial years Company/Partnership/Trust financial statements and taxation returns; and
  • Last 2 financial years full personal tax returns; and
  • Business Activity Statements (BAS) for the current financial year (Management accounts may also be required).

Self funded retiree

  • Letter from the superannuation fund stating the regular payment; or
  • Full copy of previous year’s tax return (or PAYG Summary), and current evidence of the regular payment.

Investors

  • Statement/letter confirming income received in the current financial year and current value of investment, being no more than 3 months old; and
  • Copy of latest personal tax return.

Rental income

  • Managed by Agent – full monthly rental statement, being no more than 2 months old
  • Self Managed – copy of current lease or statutory declaration from the Tenant (stating amount of rent paid) plus evidence of receipt of rent payment for past 3 months e.g. account statement showing deposits
  • Holiday Let/Serviced Apartment – evidence of income received over past 12 months.

Other income

  • 100% access to a fully maintained company vehicle – letter from Employer confirming unrestricted use
  • Family Tax Benefit/Pension payments – letter from Centrelink – no more than 4 weeks old or up to 3 months old with evidence of payments received since date of letter
  • Child Maintenance – latest Child Support Agency (CSA) assessment plus evidence of payments received over the last 6 months.

Deposits and savings

  • Evidence of funds to complete purchase/construction of property is required, including:
  • Last 3 months savings account statements (required for mortgage insured loans over 85%)
  • Gift Statutory Declaration
  • Receipt for deposit paid to Real Estate Agent/Builder
  • First Home Owner Grant Application Form.

Please speak to one of our home loan experts for more information about funding a deposit for a home loan with the assistance of our Family Guarantee.

Liabilities

Loans being refinanced

  • Last 6 months statements (latest statement being no more than 2 months old)
  • Most recent statement for Credit Cards (no more than 2 months old).

Loans not being refinanced

  • Most recent statement for all loans and credit cards (no more than 2 months old).

Child support

  • Latest child support agency assessment form (where a child support assessment has been completed); or
  • Written and signed agreement between parents detailing amount and frequency of payment.

HECS/HELP payments

  • Latest ATO HECS assessment form.

Property details

  • Property to be purchased
  • Copy of the front page of contract (preferably including the purchasers’ names in full and purchase price).

Home to be constructed

  • Copy of Builders Tender or contract
  • Copy of Plans and specifications.
  • Properties to be Refinanced
  • Copy of Land Rates Notice
  • Copy of Valuer Generals Certificate.

Please Note: Original documents are required. Further documentation may be requested upon analysis of the application and documents provided.

This article is intended to provide general information of an educational nature only. It does not have regard to your objectives, financial situation or needs and must not be relied upon as financial product advice. Before you act on this information, you should consider whether it is appropriate for your circumstances. Information in this article is current as at the date of publication. Applications subject to credit approval and fees and charges are payable. Terms and conditions apply and are available on request.

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