What documents do I need for a home loan?
What documents are needed to apply for a home loan?
Identity - Who are you?
Income – how much do you earn?
*There are alternative methods for self-employed borrowers to verify your incomes without providing full financials – that’s what we call Low Doc or Mid Doc. In most cases, we may need only one of the following three: 6 months business bank statements, 2 recent BAS, or Accountant Letter. Interest rate starts from mid 3%. For more information, contact Reservoir Finance at [email protected] for professional advice.
Liability – how much do you owe?
Expense – how much do you spend?
Security – what will the lender hold?
As the ultimate valuable item for the lenders, security value is normally verified by a valuation. Different types of valuation may be ordered by lenders based on different situations. Other supporting documents including Contract of Sales or Council Rate may be required for valuation purpose.
Asset – what does your personal balance sheet look like?
Want us to help you apply for a home loan?
Applying directly with a bank can be challenging as they each require different types of documents and can be quite annoying to deal with. If you apply for a loan through a broker, we can help guide you through this process and be very specific about what documents are needed so that the bank will approve (or pre-approve) your loan faster! Speak with us today using the form below or call us on (02) 9261 8994!