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What documents do I need to apply for a loan?

The question we normally get from clients is what exactly do they need to prepare in terms of documentation. It is actually quite simple and listed below are the documents that one should prepare:

Employed individual:
– Last two copies of payslips (payslips have to be on company’s letter head).
– Where LMI is involved, you will need to provide at least 6 months of payslips. For LMI applicants, a minimum of 12 months employment is required.
– Bank statements showing that the salaries are credited.
– Bank statements showing the deposits that you are putting in for the purchase.
– If you are using Centrelink payments to support the loan, you need the latest statement from Centrelink showing your payment entitlements.
– Copies of Passports and Driving license (Basically, 100 pts check).
– For those applying for First Home Owner grant, a copy of your marriage certificate is required.
– If there is any credit cards owing, then copies of last statement is required.
– If there is any car loan, then copies of last statement is required.
– Any other liabilities are to be reported such as Personal loan, Uni Loan (HECS) etc.

Self-Employed:
– Last two years of tax returns for both individuals and the company. Notice of Assessment (NOA) is also required.
– Company financial statements.
– If directors are drawing a salary, then copies of last 2 payslips will be required.
– Bank statements for both individuals and company.
– Evidence that company is operating for more than 2 years (ie. ABN is registered for at lease 2 years or more).
– Copies of Passports and Driving license (Basically, 100 pts check).
– For those applying for First Home Owner grant, a copy of your marriage certificate is required.
– If there is any credit cards owing, then copies of last statement is required.
– If there is any car loan, then copies of last statement is required.