What do I need for a home loan application?

When you’ve found a home you’d like to buy, it’s natural to want to get cracking and apply for your home loan straight away. Acting fast makes sense, but by taking a few extra minutes to gather the necessary paperwork for your application, you can actually speed up the home loan process.

Use this handy checklist to determine what you’ll need to provide as part of your application for a Defence Bank home loan.

Personal ID.

All lenders are required by law to ask for personal identification when you apply for a home loan.

You will need to have the following primary ID documents:

  • Your passport, plus;
  • An Australian Drivers Licence or Proof of Age card with photo (with change of name or marriage certificate where applicable).

If you do not have these documents, speak to one of our lenders to discuss which alternate ID documents can be used.

Proof of income.

It’s important that you can manage your home loan repayments, and to a large degree, this can hinge on your income. You’ll need to have on hand:

  • Several recent payslips.
  • Bank account statements showing wage or salary payments being paid into your account for several months.
  • If you’ve only just started a job, provide a copy of your employment contract showing your salary.
  • If you receive any government support payments, include a copy of your most recent Centrelink notification with details of the payments you are entitled to.

Evidence of savings.

With a Defence Bank home loan, you‘ll need at least a 5% deposit, made up of genuine savings, plus enough funds to cover fees and expenses associated with buying a home. So, gather up bank statements providing details of your savings.

If you are eligible under the Family Home Guarantee, you may only need to save a deposit of 2%.

If you’re refinancing a current home loan, we’ll need to see statements of your home loan to verify the balance remaining and check that you’re up to date with the loan repayments.

Details of your regular expenses.

Use the Defence Bank Budget Planner Calculator to itemise your regular household bills, we’ll be able to use this to check that a home loan fits comfortably with your lifestyle.

What you own – and what you owe.

We'll ask you to provide documents that show the value of your assets, like your savings, any investments or real estate. And on the flip side, we need to see how much you owe on other debts. This means having copies of the latest statements for any store or credit cards, personal or home loans or other money owing.

Details of your new home.

If you have found a property you want to buy, having a copy of the Contract of Sale lets us confirm the price you are paying and take steps to complete a valuation.

Don’t worry if you haven’t yet found your ideal property. With the details you have provided, we can get to work arranging home loan pre-approval. It’s a handy step that gives you a clear buying budget and lets you negotiate with confidence when you find your dream home.

Want to speak to a lender about your home loan?

For more details on what you need to provide for a home loan application, speak with the team at Defence Bank. Call our Contact Centre on 1800 033 139, find a mobile lender or visit your local branch for assistance.

Have any questions? We have the answers. See our FAQs.


Important note: This information is of a general nature and is not intended to be relied on by you as advice in any particular matter. You should contact us at Defence Bank to discuss how this information may apply to your circumstances.

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