Key Documents You Need For A Home Loan

To help make your home loan process as simple as possible, the following documents are required for arranging a home loan.

Your identity

Bring two of the following current documents to complete the customer identification process:

  • Driver's licence
  • Passport
  • Photo ID (i.e. Proof of Age Card, Australian tertiary institution card, Department of Defence, Waterways/Boat Licence).

Or if you only have one of the above forms of photo ID, you will also need to bring one of the following:

  • Birth certificate
  • Citizenship certificate
  • Centrelink Pension Card
  • Medicare Card
  • Utilities bill (less than three months old)
  • Rates notice (less than three months old)
  • Tax assessment notice (less than 12 months old).

Proof of your Income

If you are an employee, payslips will be required, to confirm your PAYG (Pay As You Go/Employee) income. Please provide either:

  • Your most recent payslip confirming at least 1-3 months of income and Year To Date (YTD) income.
  • Salary credited to an Australian or overseas account (bring your account number) or other financial institution account (bring bank statement or transaction history) for the past 3 months.

Or provide your most recent payslip without YTD income and one of the following to confirm 3 months of continuous employment:

  • A payslip dated 3 months prior to your recent payslip
  • Tax Agent prepared tax return (not hand written)
  • ATO Notice of assessment1
  • A PAYG Summary (not handwritten)
  • Letter from employer or employment contract.

If you are Self Employed

  • 1-2 years Individual Tax Return and accompanying ATO assessment notices and;
  • 1-2 years Business Tax Return, Profit and Loss Statement, and Balance Sheet.

Rental income

If you have an investment property, you will need to confirm your rental income, by providing one of the following:

  • A signed lease (either current or new)
  • Most recent tax return
  • Rental credits to your bank account (on your bank statements or transaction history) for the past 3 months
  • Most recent rental statement
  • Real Estate Agency letter.

Other income types

If you receive income from investments, or Centrelink, you should also bring details of any other income such as:

  • Shareholding statement
  • Your tax returns from the last two years
  • Record of investment to confirm interest
  • Centrelink statement confirming government benefits

Your financial position

Listing your other assets and liabilities will help us determine your capacity to repay the loan.

Your assets

Bring along proof of savings (bank account details) and a list of any other assets you have (e.g. current term deposit account, share investment statement, property or motor vehicle assets).

Your liabilities

Listing liabilities will help us to quickly determine how much you can afford to repay on your loan.  Please bring the following:

  • Existing loan statements for the last 3 months
  • Credit and store card statements.

Your personal insurance documents

  • Home and contents insurance
  • Investment property insurance
  • Income protection
  • Term life
  • Total and permanent disablement
  • Trauma.

Property purchase/construction (if applicable)

To enable us to determine what you are buying we will need:

  • A contract of sale for the property
  • Copy of Transfer of Land
  • Proof of Property Insurance
  • Fixed Price Building contract (if building)
  • Council approved building plans/specifications or Building Permit (if building)
  • Proof of all other assets (superannuation statement) and all other personal insurances policies.

If you are refinancing your loan, we will need:

  • Home loan statements for the last 6 months
  • Current payout quote for any loans you plan to refinance, including all current fees and charges and any early repayment costs/exit fees.
Our aim is to make the finance process as smooth as possible for clients.

Our aim is to make the finance process as smooth as possible for clients.


HOW WE SUPPORT CLIENTS

At Profy Finance and Wealth, we have supported clients through finance arrangement and buying property, including:

  • Helping them get clear on their objectives for the property
  • Arranging valaution reports to guide you on potential offer prices
  • Calculating and recommending finance options
  • Arranging fully approved finance
  • Arranging value add services such as building and contents insurance, depreciation reports, and legal conveyancing at preferred prices.
  • Updating insurance via our licensed financial planning services
  • Helping them plan for any taxation outcomes

At Profy Finance and Wealth, we cover financial advice and mortgage broking to get more holistic results for our clients. Learn more about how we could help...