Preparing for a Loan
Applying for a loan can be daunting but if you have your supporting documents
prepared for the loan interview it will make the process less stressful. There are
standard documents that most lenders require and they are:
Copies of 2 recent payslips (Payg employees only)
2 yrs Tax returns & tax assessment notices (self employed applicants)
Confirmation of any deposit held (bank statement covering last 3 mths)
Copy of rates notice for any existing properties owned
Last loan statement for any existing loans held including credit cards, home/investment loans, personal loans, interest free loans etc
100pt ID is required (copy of drivers lic, passport/birth certificate, medicare card)
NB First home buyers will require the ID to be certified by a JP or Comm Dec
Copy of purchase contract (if available)
Other helpful items
These items are not mandatory but will definitely help at the interview:
Prepare a budget (if you need help with a budget please visit www.moneydetective.com.au for assistance)NB: There will be some instances where additional supporting documents will be required depending on your circumstances and individual lender requirements.
Borrowing power calculator www.home-loans.com.au/calculators/repayments.html
Repayments calculator: www.home-loans.com.au/home-loans-help/hmab.htm
Personal information data collection form – download form here
