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Documents for your home loan appointment

 

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Home loan approval success starts here

When you are booked in for a one-hour appointment with a mortgage broker in our Williamstown team, we will need you to provide your financial information and initial documentation to us prior to your meeting date. 

We do this because we want to match you with the most suitable loan product and structure to meet your financial and personal goals. Our mortgage broker team also knows how picky each bank is when assessing home loan applications — if we provide what they need to assess your situation in the correct way, the less likelihood your loan outcome will be compromised! 

Our three step consultation process 


 

 

What documents do I need for a home loan?

    


Income evidence 

Banks want to see what you earn to calculate how much you can borrow. Income documents we will need as part of your home loan interview include recent payslips and ATO income (PAYG) statement if you are an employee; or tax returns if you are self-employed.

   


Statements

We ask for copies of your bank statements across all your open accounts. This includes statements for any savings, transaction, home loan & offset, personal loan and credit card accounts. It's how your mortgage broker and the banks ascertain your financial position. 

   


Proof of Identity

Regardless of which home loan product you are after, we will need to verify your identity as part of your consultation process.  We ask for 2 forms of photographic evidence (driver licence and passport) and 1 form of non-photographic evidence (Medicare card).   

 

Home Loan Document FAQs

Regardless of which home loan product you are after, we will need to verify your identity as part of your consultation process. 

We will ask you to provide a copy of the following:

  1. Passport
  2. Driver's licence
  3. Medicare card

Don't have a passport or something is expired?

Email or speak to our friendly team to find out what alternative documentation you can submit instead.  

Banks want to see what you earn to calculate how much you can borrow.

If you are an employee here's what you need to provide:

If you are self-employed, we will ask for the following as a starting point:

  • Last 2 x years of tax returns plus tax notice of assessment notices (NOAs). You can obtain these from the ATO or ask for copies from your accountant! 
  • If you are a company or trust, a copy of your accounts for the past 2 x years (ie. Balance sheets/profit and loss statements) plus details of any third-party liabilities like leases, overdrafts or company loans will be required.

If you receive income from investments, or government support payments bring along written evidence of these also.
 

Lucky you! If all or part of your deposit is made up of a gift of cash, you'll need a Statutory Declaration from the gift provider. 

The below template should be copied into a word document, edited, printed and then signed in the presence of a Justice of the Peace (JP) or other acceptable witness.

Statutory Declaration

I/We: John Smith

Of: 1 Pitt St Sydney

in the State of New South Wales, do solemnly and sincerely declare as follows:

That my credit card with ABC Bank Ltd has been closed.

And I/we make this solemn declaration conscientiously believing the same to be true and by virtue of the provisions of the Oaths Act, 1900 (as amended).

Subscribed and declared at Sydney NSW

This 1st day of January 2018.

(SIGN)
John Smith

Before me:

(SIGN)
Name: (Name of JP)
Justice of the Peace #: 123456

 

Regardless of whether you are an Australian national or not, the minimum documentation we need from you is your bank statements, identity and income evidence.  

If you are an Australian national living overseas, here's what we will need additionally:

  • Foreign income evidence - 2 x most recent payslips and 3 x months of bank statements to show your salary credits. This varies depending on the lender, however this is typically the minimum.  
  • If you are self-employed and earning foreign income, copies of last 2 x years of tax returns will be needed in most cases.

If you are a foreign national living in Australia, you will need to provide the following also:

  • Visa (some lenders may need an email confirming your visa approval from the Department of Immigration and Citizenship however our team will let you know once you progress to the application stage of the home loan process)
  • For an Australian citizen applying with a temporary resident, a copy of your marriage certificate (if married)

Have questions? Email or speak to our friendly team to see how we can help you.  
 

Bank statements paint a picture of your current lifestyle and finances including your spending habits, commitments (like childcare, credit cards, phone bills, etc.) and savings track record. 

Your mortgage broker wants to ensure you are matched with a home loan product and structure fit for your needs, so bank statements are a vital to get you an optimal outcome!  

  • Lenders usually like to see savings spanning six months. See what is considered 'genuine savings'.
  • Your statements will be reviewed to work out your living expenses. What you are spending vs. your income is evaluated as an indication of your character and potential borrowing power. Typically banks use the Household Expenditure Method (HEM) as a benchmark for living expenses.

At Mortgage Choice Chatswood we've made it easier to gather and upload your bank statements to us in a few easy clicks. Call or email our friendly expert mortgage broker team to get started today.

As well as the above income, expenses, assets and liabilities, additional documents you may also need to provide your lender with the below when you are refinancing your home loan, include:

  • Details of your current home loan: This includes the length of the term and any exit fees that may incur from breaking your contract.
  • Your home loan repayment statements from the last 6 months
  • Your last Council Rates notice
  • If you are refinancing for renovation purposes, a copy of the council-approved plans needs to be provided
  • The Building Insurance Policy on your current home

If you are building your new home or renovating your existing one, you will most likely need a construction loan. Extra documents you may need to provide include:

  • Building contracts that outline the drawdown schedule and the length of construction
  • The final price determined by the builder
  • Council approved building plans
  • Builder’s insurance documentation
  • Property specifications. These include materials used (i.e. floorboards or tiles), brands of appliances, number of bedrooms and bathrooms, additional features (i.e pools, split-system air conditioning), etc.

Before we get you to share your information, our friendly mortgage broker team will have a chat with you first to understand your goals and timeline. 

We'll then set up a longer meeting between yourself and a mortgage broker and will send you a link to access your secure portal where you can complete your information and upload the required documents for your consultation.

The Mortgage Choice Privacy Policy applies to all information and documentation provided.

 

Ready to get started?

Whether you're in Williamstown, Newport, Yarraville, Altona, Seddon or surrounds, our mortgage broker team can help guide your through the home loan process. We care enough to share accessible, clear and holistic advice and we strive to build long-term relationships beyond the loan process to empower better life choices for our clients. Leverage our expert knowledge to build your foundation of wealth today for tomorrow

Leverage our expert knowledge to build your foundation of wealth today for tomorrow.

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