What a
Lender May Require From You When Applying For Your Home Loan……
The following checklist states what a lender may
request from you upon your application for a home loan. When enquiring about a
home loan, find out what documentation is required for your approval. This
checklist is a general industry guideline only and may differ according to
different lenders or different circumstances.
Standard
documents for all loans
·
Fully completed application form
·
Clear copy of ID totalling 100 points
Income
Evidence - PAYG Full Doc
·
Last 3 financial years tax returns
(only some institutions may require tax returns)
·
2 current computerised payslips
·
Letter of Employment
Self-Employed
Full Doc
·
2 years financial statements E.g.
Profit and loss statements and balance sheets
·
2 years certified tax returns
Lo Doc – Self-employed
borrowers only
·
Lenders Declaration (if
applicable)
For
Property Purchase
·
Copy of Contract of Sales
·
Deposit source details
·
Evidence of funds to complete the
purchase
·
Rental agreement (if investment
property)
·
6 months proof of genuine savings
(your lender may request this if the LVR is > 85%)
For
Property Refinance
·
Copy of Water & Council Rates
Notice for all securities being offered
·
12 months refinance statements
·
6 months credit card/personal loan
statements
Building
Loans
·
Written tender
·
Council approval for plans
·
Builders license number &
insurance
·
Any other building plans and
specifications
Other
Documents (if applicable)
·
Copy of lease or managing agents’
statement
·
Copy of latest rental statements
on rent paid or received if it is a investment property
·
First Home Owner Grant and
Certified Citizenship certificate or Birth certificate
Additional
for applicants with credit impairment/s
·
Explanation of credit impairment
and proof defaults paid (for non-conforming products)
The above checklist is not a specific requirement for
applying with Yes Home Loans. For more information on documentation
requirements when applying for a loan with Yes Home Loans contact 131-YES.
That’s 131 937!
