Deciding to get a mortgage and buy a home is a huge financial decision and can be an emotional one if you’re buying a home with a loved one.
Funnily enough, these are not always the biggest obstacles to getting a home loan. There are many people that put it off simply because they feel like the application process is too complicated and difficult. In particular, knowing what supporting documents you need can be confusing. We’re here to make it easy.
From your initial enquiry with one of our senior mortgage brokers, you’ll be asked to complete a short application form which will provide us with your basic details and a good understanding of your situation. Complete the form honestly and be sure to sign page 5 to accept our brokerage agreement. Don’t send it back to your broker just yet!
Before returning the short application form, be sure to attach the following basic documents. If these documents are accurate and you provide them all in one go, you’ll save yourself a lot of hassle:
- ID: drivers licence and/or passport, Medicare card and bank ATM card.
- Income Evidence: 2 most recent payslips. The income evidence you require may vary depending on your employment type and situation.
- Deposit Evidence: 3 months banks statements or an internet transaction history for 3 months as well as one statement you received in the mail. This won’t be necessary if you’re using a guarantor to secure your mortgage.
- Debt:Most recent credit card statement, most recent personal loan statement (including HECS-HELP) and most recent car loan statement (often no statements are issued, your lender can fax you a statement if you call them).
Bad credit history? We may still be able to get you approved if you provide good reasons and strong evidence.
Once we have these documents, we can do a proper assessment and recommend up to three or four lenders (depending on your situation) that can offer you a competitive home loan. All we have to do then is submit your application!
Our brokers are credit experts and many of them used to work for a major bank as the person actually approving loans!
Call us today on 1300 889 743 or complete our free assessment form to start your home loan application with an expert today.