DOCUMENT CHECKLIST There is a variety of documents required when you submit and application for a home loan. These can also vary between lenders and loan types. Basically the types of documentation required to help assess your application are: proof of Identity, Income and employment, Liabilities, Expenses and Assets. Following is a guide of some of the documentation you may be required to lodge with you application. It is wise to try and have as much supporting documents as possible for your appointment with your broker.
IdentityYou will have to prove your identity through a 100 point ID check, and you should have some or all of the following on hand:
- Drivers Licence
- Birth Certificate
- Citizenship Certificate
- Passport
- ATM Card
- Credit Card
- Medicare Card
- Government Pension Card
- Rates Notice, Phone bill, Gas bill
Income & EmploymentYou will need proof you have income and how much and employment and the mode and history, of income and employment.
- Payslips
- A letter form the employer stating all employment conditions
- Last Payment Summary, Tax Assessment.
- Tax Return (last 3 tax returns if Self-Employed.
- Centrelink Income Statement
- Proof of Rental income
- Documentation for all other income.
LiabilitiesYou will have to declare all your current liabilities and show they are being serviced.
- 6-12 Months Statements for any existing Home, Personal or Car loans.
- 3 months Credit Card Statements.
- Lease agreements.
- Supporting documentation for any other liabilities or expenses.
Assets You may have to show proof of your assets by supplying:
- Bank Account Statement
- Term Deposit Statements
- Managed Fund Statements
- Your most recent Rates Notice
- Statement of holding for any shares.
- For purchases your contract Offer & Acceptance
- For construction loans a fixed price building contract.
- Before Settlement a Certificate of Currency for your home insurance
