The paperwork lenders usually ask for — ID, income, savings, debts and the property — in one plain-English checklist, so you can get it together before you apply. Free chat, no cost to you.
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Every lender wants to answer the same four questions before it says yes: who are you, what do you earn, what do you owe and spend, and what are you buying? The documents below are how you prove each one. The exact list changes from lender to lender, and with how you’re employed, so treat this as a general checklist rather than the final word.
A missing payslip, a statement with a page cut off, or a lender coming back with “can you explain this transaction?” can each hold an application up. Getting your paperwork together before you apply avoids most of that back-and-forth.
| What the lender needs to know | Documents usually asked for |
|---|---|
| Who you are | Photo ID such as a driver’s licence or passport, plus a second form of ID (e.g. Medicare card or birth certificate). Proof of your current address if your ID shows an old one. |
| What you earn (employees) | Your most recent payslips (lenders commonly ask for the last two, showing year-to-date income). Some also want an employment letter, especially if you’re new in the job, on probation, or paid overtime, commission or allowances. |
| What you earn (self-employed) | Usually your last two years of personal and business tax returns and ATO notices of assessment, plus your ABN details. Some lenders have options with less paperwork. See our self-employed home loans guide. |
| Your savings and deposit | Recent statements for your savings and transaction accounts (often around three months) showing your balance and how it built up. If family is gifting part of your deposit, most lenders want a signed gift letter. |
| What you owe | Recent statements for any credit cards, personal or car loans, buy now pay later accounts, HECS-HELP balance, and any existing home loans. Lenders generally assess a credit card on its limit, not just what’s owing on it. |
| What you spend | Your living expenses, which lenders check against your bank statements. Rent, childcare, school fees, insurance premiums and subscriptions all count. |
| The property | Once you’ve bought, the signed contract of sale. For a build, the land contract and the fixed-price building contract. For a refinance, a recent statement for your current loan and your rates notice. |
Many of these documents are needed for pre-approval too. That’s the lender’s conditional “yes” before you’ve found a place. Having them ready early means that when the right house comes up in Traralgon, Morwell or Warragul, you can move quickly. Not sure where you stand yet? Our free borrowing power calculator gives you a rough guide in a minute, and our deposit guide explains what counts towards your deposit.
Because we work with 30+ lenders, part of our job is knowing which lender asks for what. We’ll give you a checklist built for your situation, check it before anything goes to a lender, and handle the follow-up questions. It costs you nothing. The lender pays us at settlement.
We help buyers get loan-ready right across Gippsland: Traralgon, Morwell, Moe, Warragul, Sale and every town between. Whether it’s a first home, a refinance or an investment, we’re rated 5.0 from 142 Google reviews. Call 1300 442 497.
General information only, not advice for your situation. Document requirements vary by lender and are set by each lender’s credit policy.
1. Understanding Your Needs
Your mortgage journey begins with a detailed consultation with your Finance & Mortgage Broker. Your broker will listen to your property goals, whether you’re buying a home, investing in real estate, or seeking a commercial loan. They will assess your financial situation, considering factors like income, savings, liabilities, and credit history, to provide tailored advice on loan options available to you.
2. Financial Positioning
The next step involves your broker conducting a thorough evaluation of your financial position. This includes reviewing your income, bank statements, assets, liabilities, credit history, and savings. Your broker will then calculate your borrowing capacity, helping you understand how much you can afford to borrow and how much your monthly repayments might be. Your broker will also assess whether you qualify for any interest rate discounts or government schemes, like first-home buyer grants
3. Comparing Loan Options
Once your financial situation is fully assessed, your broker will begin comparing loan products from a range of lenders across Australia. They will help you weigh the benefits of fixed interest rate loans versus variable interest rate loans, as well as exploring options for offset accounts and interest rate discounts. They will also explain important terms like loan features, fees, and other considerations like the potential for future rate changes or LVR adjustments.
4. Pre-Approval Process
Pre-approval is a crucial step in the property buying process. With pre-approval, you’ll have a clear idea of the loan amount you can borrow, which strengthens your position in the local property market. Your broker will help you gather the necessary documents and submit them to the lender for pre-approval, ensuring the process is as quick and straightforward as possible.
5. Submitting the Loan Application
Once pre-approval is in hand, your broker will help you complete the loan application. They will guide you through submitting all necessary paperwork to the lender, including documents like bank statements, proof of income, and details of existing liabilities. Your broker will communicate directly with the lender to ensure the application is processed quickly, ensuring no delays in getting you the loan you need.
6. Loan Approval & Settlement
After your loan is approved, your broker will review the final loan offer with you. They will also work with you to ensure you understand the terms of the loan and guide you through the settlement process. Your broker will remain available to help you navigate any final hurdles before you complete the purchase of your property.
7. Finalising Ownership
The final step is settlement, when your loan is officially advanced, and you take ownership of the property. Your broker will coordinate with the lender and conveyancer to ensure the transfer goes smoothly. Once the settlement is complete, you’ll officially become the owner of the property, and your Finance & Mortgage Broker will continue to offer guidance to help you manage your loan and stay on track with repayments.
JS
Joanne Shih
He actually took the time to go through my financial situation and discuss strategies with me — something other brokers I spoke to didn’t really do. Even though my case was high LVR, the loan was approved within 2 months of our first contact. He was incredibly patient with all my overthinking and endless questions, and never once made me feel rushed. Couldn’t recommend Dougal more highly.
MK
Matt Kay
Communication was great from the start to the end with a great result. Dougal and the team know what they’re talking about and made the experience smooth and stress free.
SH
Sophie Hildebrand
Had a really great experience working with Dougal. He was professional, easy to communicate with, and made the whole process smooth and stress-free. Always quick to answer questions and kept us informed every step of the way. Highly recommend!
We can help with Home and Investment Loans, Construction Loans, Car Loans, Personal Loans and much more. If you're looking to borrow to buy something, we can probably help.
Mortgage Brokers are there to help you find the right loan whether it be from the major banks, smaller lenders or other sources. We have a broad range of products (more than any single lender can offer) which means we can do all the legwork to find the right loan for you.
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Disclaimer: This page provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances.
