Borrowing Capacity - Documents require by Lenders

 

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Find out how much you may be able to borrow by using our borrowing power calculator. Simply enter your total income and expenses to find out how much you may be able to afford to borrow.

PERSONAL IDENTIFICATION

  • 100 points of ID are required. A current Passport or Birth Certificate or Citizenship = 70 points. Drivers Licence = 40 points.
  • Other documents that help build up 100 points include: a Medicare card, Credit card, ATM/Debit card, Council Rates Notice, Pensioner Concession card and Utilities Bill.

INCOME DETAILS

  • The two most recent payslips from your employer.
  • The most recent Group Certificate from your employer or Tax Assessment from ATO.
  • If self employed or Business Owner.

    • The last two year’s personal and business tax returns and ATO assessments.
    • Other income details.

ADDITIONAL DOCUMENTS FOR REFINANCING

  • Statements for the last six months for any existing home loans
  • The most recent Council Rates Notice
  • Certificate of Insurance or Building insurance policy on the property or properties being offered as security.
  • Credit cards and Personal Loan
    • If you wish to consolidate your credit card debt, statements for the last 3 months. .
    • If you wish to consolidate your personal loan, statements for the last 3 months.

ADDITIONAL DOCUMENTS FOR INVESTORS

If you already have investment property/ies:

  • Evidence of income such as rental statements.
  • A copy of the tenancy lease.
  • A Council Rates Notice.
  • Copy of the Contract of Sale for the property being purchased.
  • A letter from a property manager indicating likely rent for the new property or rental appraisal.

ADDITIONAL DOCUMENTS FOR BORROWERS SEEKING A CONSTRUCTION LOAN

A copy of a valid builder’s fixed price tender, including all specifications.
A copy of Council approved plans.