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To get approved for a home loan, you'll need to provide documentation to confirm your identity, income and more. The good news is that nowadays you can upload all your documents to online platforms like Lendi's in seconds. 

To make life easier, we've put together a list of the documents you'll need to have ready to help you get approved faster and avoid any frustrating delays.  

### The main documents you'll need to provide to get a home loan are:

1. __Proof of identification:__ passport, drivers licence, birth certificate
2. __Income:__ recent payslips, PAYG statement
3. __Expenses:__  a detailed list of your monthly expenses from childcare to Ubers
4. __Assets:__ ownership details for other properties, cars, savings
5. __Liabilities:__ statements for any existing debts

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- __Related:__ [Can I buy a home with only a 5% deposit?](https://www.lendi.com.au/inspire/finance/can-i-buy-a-home-with-only-a-five-percent-deposit/)
- __Related:__ [A guide to the upfront costs of buying a home](https://www.lendi.com.au/inspire/property/a-guide-to-the-upfront-costs-of-buying-a-home/)
-  __Related:__ [Don't make these 8 common home loan mistakes](https://www.lendi.com.au/inspire/finance/dont-make-these-8-common-home-loan-mistakes/)

## ID verification
For any loan you are applying for, you will need to prove that you are who you say you are by verifying your identity. Traditionally, you would need to go into a bank branch or meet a mortgage broker face-to-face to provide the lender with your ID documents. 

Nowadays, if you use an online home loan platform, you can verify your identity online using your phone in seconds by simply uploading a photo of your ID and a selfie. Lendi's smart technology then uses biometric facial recognition and live verification experts to compare a selfie to the picture on the ID supplied. 

You can verify your identity with the following:

- Birth certificate 
- Current passport 
- Driver’s license 
- Medicare card 

## Proof of income
![calculating-budget-paperwork](//images.ctfassets.net/o2gysnvd04sg/5G4e1vKIWkGciuUWqWcsAe/474d203a5e76bcbe40847192dd45f0c8/calculating-budget-paperwork.jpg)
Now that you’ve proven your identity, you need to prove you can make monthly repayments on your loan. Your borrowing power is calculated using the net amount left after your monthly income and deducting your expenses. 

Your proof of income can be shown by providing:

- Group certificate or PAYG statement
- Any rental income you earn
- __If you are employed as PAYG:__ Your last two payslips from your employer. For PAYG (Pay As You Go) employees, ensuring they contain your Year to Date (YTD) income. Other necessary information can include any consistent overtime, bonuses, terms of employment, start date and any allowances.
- __For casual employees:__ the most recent assessment from the ATO is required.
- __For self-employed individuals:__ ATO assessments and tax returns from the past two years are required. 
- Centrelink payments (Family Tax Benefit, Pension Bonus Scheme, Disability Support Pension, etc). 

If you’re using an online lender or online home loan platform, you can upload these documents directly saving you time.

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## Declaring your expenses
Before getting approved for a home loan, lenders will require you to declare your expenses. 

Some lenders will verify your declared expenses using your bank statements so it's a good idea to review your bank statements before applying for a loan as it's easy to underestimate your expenses and forget simple everyday things.

You'll be required to declare any expenses in the following categories: 

- Childcare
- Clothing and personal care
- Education
- Groceries
- Insurance
- Investment property utilities
- Medical and health expenses
- Household utilities
- Recreation and entertainment
- Telephone and internet
- Transport

To ensure you are transparent in your spending, consider making a comprehensive list of your monthly expenses. You can download these from your bank's website or link them to the secure Lendi platform directly. 

By aligning your income and expenses, your lender can assess how much you can afford, and your ability to make monthly home loan repayments. 

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## Assets and liabilities 

When applying for a home loan you’ll also need to provide proof of some assets and liabilities depending on the loan scenario.

### Assets 
Assets are anything that has a monetary value. Lenders can use your asset position to assess your character and this can impact your chances of approval. 

Multiple assets may also make lenders feel more confident about your security as a borrower since the sale of assets can assist in the repayment of your home loan if an unexpected redundancy or unemployment occurs.

You'll be asked to declare and provide details on:

- Properties you own  
- Any vehicles you own 
- The value of your home contents
- Your savings - at least six months of bank statements
- Superannuation 
- Any shares in stocks or managed funds
- Any investment savings
- A term deposit

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### Liabilities
Liabilities are any financial debts or obligations you may have. Before approving a loan, lenders need to know if you have any existing debts and how long you will be paying them off. This is essential information to provide to protect yourself from mortgage stress later on. 

You'll be asked to provide details on any:

- Existing home loans: (at least six months of loan statements)
- Credit cards:  If you have a credit card with debt, you will need to provide credit card statements from the last six months. If you do not have any outstanding debt owing on the card, you only need to provide the most recent statement. 
- Car loans: recent loan statements
- Personal loans: recent loan statements
- Student loans
- Any other unpaid debt 

By providing all of your assets, liabilities, income and expense details, you are giving your lender the information they need to make sure you are comfortable in repaying your home loan. 

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## Extra documentation

Not everyone is buying an established home or doing a simple refinance.

Others may be seeking a home loan to build a property, or are reevaluating their current circumstances and looking to consolidate debt. In these situations, some additional documents are required. 

## If you’re refinancing:
As well as the above income, expenses, assets and liabilities, additional documents you may also need to provide your lender with the below when you are [refinancing your home loan](https://www.lendi.com.au/home-loans/refinance/), include:
- Details of your current home loan: This includes the length of the term and any exit fees that may incur from breaking your contract.
- Your home loan repayment statements from the last 6 months.
- Your last Council Rates notice
- If you are refinancing for renovation purposes, a copy of the council-approved plans needs to be provided
- The Building Insurance Policy on your current home

## If you’re getting a construction loan:
[Construction loans](https://www.lendi.com.au/home-loans/construction/) are for people who are building a new home, or making major renovations to an existing one. In these situations, you may need to provide your lender with extra documentation such as:
- Building contracts that outline the drawdown schedule and the length of construction
- The final price determined by the builder
- Council approved building plans 
- Builder’s insurance documentation
- Property specifications. These include materials used (i.e. floorboards or tiles), brands of appliances, number of bedrooms and bathrooms, additional features (i.e pools, split-system air conditioning), etc. 

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## Ready to go? Start online
The good news is that, once you have gathered all relevant documents, you can upload and verify them [securely online here](https://www.lendi.com.au/home-loans/search/). Or [schedule a callback](https://www.lendi.com.au/book-appointment/) from one of Lendi's Home Loan Specialists today.

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*The information in this post is general in nature and should not be considered personal or financial advice. 
You should always seek professional advice or assistance before making any financial decisions.*
