Why Having the Right Documents Ready Matters
Home loan applications that stall almost always stall because of missing or incomplete documentation. Every time a lender requests an additional document, your application is placed back in a queue — each request can add 3–7 business days. By gathering everything in advance and submitting a complete file, you can reduce your approval time from the industry average of 10–20 business days to as little as 3–5 days with efficient lenders.
This checklist is divided by applicant type. Use the sections relevant to your situation. For most borrowers, the core requirements are identity, income and deposit evidence. The additional sections cover specific circumstances.
⚡ Before You Start: Key Rules
- Payslips: Must be dated within 30 days of application submission
- Bank statements: Most lenders require 3 months; self-employed often 6 months
- Certified copies: Your broker can certify copies — you don't need to visit a lender branch
- PDFs: Downloaded PDF statements from internet banking are accepted; screenshots usually are not
- All accounts: Include ALL bank accounts — even zero-balance ones — as lenders can see undisclosed accounts via credit checks
Identity Documents (All Applicants)
Primary Identification
- Australian passport (current or expired within last 2 years) OR
- Australian driver's licence (current)
- Medicare card (current) — often used as second ID
- Proof of current address (e.g., utility bill, council rates notice dated within 3 months)
For Non-Citizens / Permanent Residents
- Passport (country of origin)
- Visa documentation showing right to remain / visa class and expiry
- FIRB (Foreign Investment Review Board) approval if required for your visa class — check eligibility at the FIRB website
Income Documents: PAYG Employees
Standard Employment
- Most recent 2 consecutive payslips (within last 30 days)
- Most recent group certificate / ATO income statement (available via myGov / ATO online services)
- Employment letter confirming: position, employment type (full-time/part-time/casual), start date, and annual salary — on company letterhead, signed by HR or management
If You Receive Additional Income
- Bonus income: 2 years of payslips showing bonus payments + employment letter confirming eligibility
- Overtime income: 2 years of payslips clearly showing overtime amounts
- Commission income: 2 years commission statements or payslips showing commission breakdown
- Rental income from investment properties: rental statements from agent + lease agreement (see Investment section)
- Government payments (Centrelink, FTB, etc.): Centrelink statement dated within 3 months
- Child support payments received: court order or formal agreement + 3 months bank statements showing payments received
If You Changed Jobs Recently
- Pay slips from new employer (all available)
- Employment contract confirming salary and start date
- Previous employer's group certificate if insufficient history at new employer
- Explanation letter if there was a gap between roles
Income Documents: Self-Employed Borrowers
Full-Doc (Standard) Self-Employed Application
- Personal tax returns — most recent 2 financial years (both lodged with ATO)
- ATO Notices of Assessment for both years (from myGov / ATO)
- Business tax returns — most recent 2 financial years (if operating as company or trust)
- Business financial statements: profit and loss statements and balance sheet for both years (accountant-prepared)
- Business Activity Statements (BAS) — most recent 4 quarters
- 3–6 months business bank statements
- ABN registration confirmation (from Australian Business Register)
- GST registration confirmation (if applicable)
- Accountant's letter confirming income (recommended — may be required by some lenders)
Low-Doc Self-Employed Application (Less Than 2 Years ABN)
- Accountant's declaration of income (signed by registered tax agent, on letterhead)
- BAS statements — most recent 12 months
- 6–12 months business bank statements
- ABN and GST registration documentation
- Signed self-certification income declaration form (lender-specific form)
- Most recent personal tax return (if available)
Deposit and Savings Evidence (All Applicants)
Genuine Savings
- 3 months bank statements for ALL savings accounts (showing regular saving pattern)
- Term deposit certificates if deposit is held in a term deposit
- Investment account statements if using shares or managed funds as part of deposit
- Property valuation if using equity in an existing property as deposit
Non-Genuine Savings (Requires Additional Documentation)
- Gift letter from donor (stating: amount, that funds are a gift with no repayment expected, donor's relationship to applicant, signed and dated) — for gifted funds from family
- Settlement statement if deposit comes from sale of property
- Inheritance documentation if deposit includes inherited funds
- Tax return / ATO assessment if deposit includes a tax refund
Existing Liabilities and Expenses
Existing Debts
- Personal loan statements — most recent 3 months showing balance and repayments
- Car loan / vehicle finance statements — most recent 3 months
- Credit card statements — most recent 3 months for ALL cards (even zero balance — lenders see limits, not just balances)
- HECS-HELP balance confirmation (from ATO via myGov — check our HECS guide for how this affects your capacity)
- Existing home loan statements if refinancing (most recent 6 months)
- BNPL (Buy Now Pay Later) account statements if applicable
Ongoing Commitments
- Current rental agreement (if renting — shows current rental expense)
- Child support payments: court order or formal agreement + 3 months bank statements showing payments
- Maintenance payments: as above
Property Documents (After You Have Found a Property)
Standard Purchase
- Signed Contract of Sale (provided by the vendor's agent or conveyancer)
- Property address and certificate of title details
- Building and pest inspection report (strongly recommended — lenders may request for older properties)
- Council rates notice (confirming property rates and zoning)
Strata / Apartment Purchases
- Strata report or Owners Corporation report
- Most recent body corporate meeting minutes
- Levy schedule (confirming quarterly levies)
- Floor size confirmation (many lenders have minimum size requirements — typically 40–50m²)
If Refinancing an Existing Property
- Most recent home loan statement (existing lender)
- Council rates notice for the property
- Recent property valuation if available (though lender will order their own)
First Home Buyer Specific Documents
NSW First Home Buyer Assistance
- Declaration that you have never owned property in Australia (required for stamp duty exemption and FHOG)
- First Home Owner Grant application form (available from Revenue NSW — your broker or lender will assist)
- Certificate of occupancy or builder's contract (for new home grant)
First Home Guarantee (FHG) Applications
- Confirmation of Australian citizenship or permanent residency
- Evidence that you have not previously owned property in Australia
- Income confirmation (individual income must be $125,000 or below; combined $200,000 or below for 2025-26)
- Lenders participating in the FHG can assist with application — see Housing Australia for the current participating lender list
Investment Property Application Extras
Existing Investment Property Income
- Rental income: most recent rental statement from property manager (or 12 months rental history if private)
- Lease agreement confirming tenancy term and weekly rent
- Most recent property valuation (if relevant to equity position)
- Existing investment loan statements (most recent 6 months)
New Investment Purchase
- All documents above (identity, income, deposit, liabilities)
- Signed contract of sale for the investment property
- Rental appraisal letter from a licensed property manager (confirming expected rent for the property)
- Body corporate records if purchasing a strata property
✅ Don't Want to Do This Alone?
Our broker partners will review your document situation in a free 15-minute call, tell you exactly what you need, and accept your documents directly. Book a free call — or use our Smart Home Loan Check to begin your assessment online before the call.
Frequently Asked Questions
Most lenders require 3 months of bank statements for all accounts — savings, transaction, offset, and any accounts you use to pay debts. Some lenders require 6 months, particularly for self-employed applications or if there are unusual transactions to explain. Your broker will confirm the exact requirement for your chosen lender.
For PAYG employees, a tax return is not always required — most lenders accept your 2 most recent payslips and your group certificate (ATO income statement) for the most recent financial year. For self-employed applicants, 2 years of lodged tax returns and ATO Notices of Assessment are standard requirements. If your tax returns are not yet lodged, a broker can advise on lenders who accept alternative documentation.
Payslips need to be current — most lenders require them to be within the last 30 days at time of submission, though some accept up to 60 days. Don't submit an application with payslips that are 2–3 months old — by the time the lender processes the application, they will likely request updated ones, causing delays.
Most lenders require original bank statements — either paper statements sent from the bank, PDF statements downloaded from internet banking, or statements accessed via a digital data-sharing service like Illion BankStatements. Screenshots or photos of statements displayed on screen are generally not accepted as they cannot be verified as unaltered. Your broker will advise on the most convenient acceptable format for your lender.
Foreign income can be included in your application, but lenders typically apply a discount (commonly 20–40%) to account for currency risk and verification difficulty. Foreign assets can be counted as deposit evidence if properly documented and converted to Australian dollars. You will typically need to provide bank statements or investment account statements from the foreign institution. Some lenders do not accept foreign income at all — a broker can identify those who do.