Found your dream home? Now comes the paperwork.

No matter what type of home loan you’re applying for, your lender will need to confirm your identity and ability to service a loan.

So, what do you need to provide?

Lenders will want to see documents that verify your identity, income, debts and expenses. Picture: Getty.

The documents you’ll need can vary depending on the lender and your personal circumstances.

Your Smartline Adviser can help to simplify the process by bundling up your information and presenting it to your lender.

Here’s what most lenders will require:

1. Proof of your identity

First and foremost, you’ll need to prove that you are who you say you are with identification documents.

To do this, you’ll need to provide primary and/or secondary documents.

Here are some examples:

Primary identification

  • Current passport
  • Driver’s licence
  • Photo ID such as a Proof of Age Card

Secondary identification

  • Birth certificate
  • Medicare Card
  • Recent household bill with name and address
  • Health Care Card
  • Citizenship certificate

2. Proof of your income

Lenders will also want to know how much you earn so they can assess whether you’ll be able to service a loan.

To prove your income, you’ll need to provide various documents, such as recent pay slips.

Your proof of income can be shown with the following documents:

  • Bank statements up to the last six months
  • Recent payslips
  • A letter from your employer detailing your employment status and salary
  • Latest group certificate

If you’re self-employed, you’ll often need to show additional documents such as your most recent personal and business tax returns, and your tax assessment notice from the past two years.

3. Proof of your financial position

Lenders will also want to get a good idea of your financial situation by looking at what you own (assets) and what you owe (liabilities), as well as any other expenses and outgoings. This allows them to assess whether you’ll be able to meet your loan repayments.

Assets can include:

  • Any vehicles and/or properties you own
  • Superannuation
  • Shares
  • Savings

Examples of liabilities:

  • Credit card limits
  • Ongoing loan repayments, such as car and personal loans.

Living expenses:

You’ll also need to provide a detailed breakdown of your monthly living expenses so the lenders can take into account how much you spend on items like groceries, bills and transport, and how it impacts your ability to repay a loan.

Living expenses can include:

  • Groceries
  • gas, electricity and water bills
  • Transport, such as fuel costs and bus fares
  • Streaming subscriptions
  • Insurance
  • Clothing
  • Education and childcare
  • Eating out
  • Health and fitness
  • TV, phone and internet

Contact your Smartline Adviser

Everyone’s circumstances are unique. Get in touch with your Smartline Adviser for more information on exactly what you need.

They can provide personalised home loan advice that meets your requirements.

Need help with your budget planning? Let our budget planning calculator help you. Simply enter your income and expense details below and the Smartline calculator will provide you with a detailed budget planner.

Our borrowing power calculator will also help you work out how much you can borrow.

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DISCLAIMER: The information contained in this article is correct at the time of publishing and is subject to change. It is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Smartline recommends that you consider whether it is appropriate for your circumstances. Smartline recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.