Get Approved- The Ultimate Home Loan Preparation Checklist

Home Loan Application Checklist

First Time Home Buyer

  • Required to provide documentation as noted in the following sections.
  • May benefit from the First Home Owner Grant scheme (FHOG) with a one-off payment from the relevant State or Territory. (Note: Criteria and benefits vary across States and Territories).

1. Personal Identification

  • Valid passport
  • Australian driver’s license
  • Birth certificate
  • Medicare card
  • Secondary identification (if required): utility bills, bank statements, etc.

2. Financial Information

  • Recent payslips (last 3-6 months)
  • Bank statements (last 3-6 months)
  • Tax returns and Notice of Assessment (NOA) for the last two years
  • Details of current assets: savings, investments, other properties, etc.
  • Details of current liabilities: credit card debts, personal loans, other mortgages, etc.
  • Proof of savings: account statements showing regular savings
  • Rental income statements (if applicable)
  • Superannuation statements

3. Employment Details

  • For Full-Time or Part-Time Employees:

    • Recent payslip within 60 days, showing a Year-to-Date (YTD) figure that covers at least 3 months of continuous employment, if your salary is not deposited into an ANZ account for the past 3 months.
    • If the YTD figure is less than 3 months, provide two consecutive payslips, each no older than 60 days.
  • For Casual Employees:

    • Latest payslip within 60 days with a YTD duration of at least 6 months, required if salary is not deposited into an ANZ account for the past 6 months.
    • If YTD is under 6 months, also provide an ATO Income Statement, tax return with ATO Notice of Assessment, PAYG summary, or a previous period payslip.
  • For Self-Employed Individuals:

    • Individual tax return and ATO notice of assessment from the past year, not exceeding 22 ½ months in age.
    • Business tax return, along with profit and loss statement and balance sheet from the past year, not older than 22 ½ months.
    • For those receiving regular wages from their own company: ATO Income statement showing a minimum of 6 months’ income and one recent payslip, not older than 60 days.
  • For Rental Income:

    • Current signed lease agreement (private lease agreements excluded).
    • Bank statements showing rental income for the last 3 months.
    • Most recent tax return that includes rental income details.
  • Other Sources of Income:

    • Proof of any foreign income, superannuation, pension, annuity, or government income, typically for the last 3 months.
    • Confirmation of interest or dividend income, along with current asset balance and earnings for the past year.


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4. Employment Details

  • Employer’s name, address, and contact information.
  • Duration of current employment status.
  • If applicable, a copy of your employment contract.
  • Information about any recent or expected changes in employment status.
  • Additional documents as specified above for casual and self-employed applicants.

5. Property Information

  • Contract of sale (if already chosen a property)
  • Real estate agent details (if applicable)
  • Conveyancer or solicitor’s details
  • Building and pest inspection reports (if already completed)
  • Council zoning certificates (if applicable)

6. Loan Specifics

7. Additional Documents (If Applicable)

  • Self-employed: Business financial statements for the last two years
  • Rental property owners: Property management statements
  • Investors: Investment portfolio statements
  • Divorce or separation agreement (if applicable)
  • Proof of alimony/child support payments (if applicable)
  • Government benefits statement (if applicable)

8. Legal and Advisory

  • Contact details of legal advisor or conveyancer
  • Financial advisor details (if applicable)

9. Insurance

10. Additional Considerations

  • Understand your credit score
  • Review your budget and borrowing capacity
  • Research government grants or concessions (e.g., First Home Owner Grant)
  • Familiarize with home loan terms and conditions

11. Pre-Application

  • Compare different home loan products and lenders
  • Decide on a mortgage broker (if using one)
  • Attend pre-application meeting with broker or lender

12. Post-Application

  • Track application status
  • Prepare for property valuation (if required by lender)
  • Finalize home and contents insurance before settlement
  • Ready deposit and settlement funds

13. Settlement

  • Review and sign mortgage documents
  • Coordinate settlement date with conveyancer and lender
  • Confirm transfer of funds on settlement day

14. After Settlement

  • Set up loan repayments
  • Review loan annually for possible refinancing or adjustments


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