How do you actually apply for a home loan? What documentation do you need?
While getting approved for a home loan can be a long and drawn our process with the banks, going through a Smartline Broker is much easier. When you’re ready to formally apply, we’ll ask you a few questions—and ask for supporting documents. We’ll then fill in the application on your behalf. Here’s some of the things we’ll need

1. IDENTIFICATION
We need to know you are you! We’ll need copies of your licence and usually one other form of ID like a passport, birth certificate, medicare card or recent electricity bill.

2. YOUR INCOME
We’ll ask for details about your income so we can calculate your borrowing power and determine the level of your repayments.

The best way to do this is to send us payslips from your employer. If you earn income from other sources, we’ll ask for documentation around that too.

If you’re self-employed, we may ask for a BAS statement.

3. WHAT YOU OWN
We’ll ask you if you have a savings account, any shares, property or significant assets (e.g. caravan). We’ll need supporting documentation to prove you own these things.

4. WHAT YOU OWE
We’ll ask for details on any liabilities you might have like personal loans, HECS debt, car loans or credit cards.

5. Employment history
It’s helpful to know where you are employed and what type of employment you have, e.g. full-time permanent or contract.

6. OTHERS

• Building a property. If you’ve already negotiated a contract, we’ll need cost estimates and timelines or a copy of the builder’s contract.
• Receiving a gift (money) to help you buy your home? We’ll need a letter from the party giving the gift, showing their contribution.