The home loan documents checklist (and how to avoid the paperwork loop)

Most home loan delays aren’t caused by the lender’s assessment — they’re caused by the application going in incomplete, then bouncing back for “just one more document” on repeat. Here’s what lenders typically want, so you can gather it once and gather it right.

Identity

• Driver licence or passport (usually one primary photo ID plus a secondary document)
• Medicare card as supporting ID

Names must match across documents — if you’ve changed names, have the marriage certificate or change-of-name certificate handy.

Income — employees

• Two most recent payslips, showing YTD figures
• Sometimes an employment letter or the previous year’s payment summary/tax return, especially for new jobs, probation, or heavy overtime/allowances
• For rental income: current lease agreements or agent statements

Lenders treat base salary, overtime, bonuses and allowances differently — some count 100%, some 80%, some nothing without history. This is one of the quiet ways lender choice changes your borrowing power.

Income — self-employed

Typically:

• Two years of personal and business tax returns
• Matching notices of assessment
• Business financial statements (profit & loss, balance sheet)
• Sometimes recent BAS or business bank statements

If two clean years don’t exist yet, alt-doc options use an accountant’s declaration or BAS instead — a different checklist we can map for you.

Savings and deposit

• Three months of statements for savings accounts, showing your deposit accumulating (“genuine savings” where required)
• If part of the deposit is a gift, a signed gift letter stating it’s non-repayable
• Evidence of any shares or other assets you’re counting

Large unexplained deposits in your statements will attract questions — be ready to explain them.

Liabilities

• Statements for existing loans (home, car, personal)
• Credit card statements — note that lenders assess the limit, not the balance
• Details of HELP/HECS debt and any buy-now-pay-later accounts

Reducing card limits before applying can genuinely increase your borrowing power.

The property (once you have one)

• Signed contract of sale
• Your conveyancer’s details
• For construction: fixed-price building contract, plans and permits

Three mistakes that stall applications

1. Screenshotting instead of downloading. Lenders want full statements with your name, account number and the period visible — not a cropped app screenshot.
2. Applying mid-change. New job, new car loan, or a moved deposit right before applying all trigger re-verification. Hold steady until settlement.
3. Guessing expenses. Living expense declarations are checked against your statements. Understating them doesn’t help; it just adds questions.

A broker’s job includes turning this list into a short, personalised one — most clients don’t need everything above, and knowing which ten documents you need beats collecting thirty.

This article is general information only. Documentation requirements vary by lender and change over time.