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How to Get Pre-Approved for a Home Loan:

A Step-by-Step Guide.

Neomoney Pre-Approved Loans

Are you ready to take the first step towards buying your dream home or investment property?

Getting pre-approved for a home loan can give you a clear idea of your purchasing power and help you make informed decisions when it comes to your property search.

 

Follow these simple steps to obtain your pre-approval today.

Let’s Get Started.

The Pre-Approval process takes a matter of a few steps.

 

Step One:

Find the Right Loan Product

The first step in obtaining a pre-approval is to find a suitable loan product. With so many options available in the market, it can be overwhelming to choose the right one. Don’t worry, we’re here to help. By answering a few questions through our Fact Find Questionnaire, we can help you narrow down the types of products that may suit your requirements.

Step Two:

Submit Required Documents

Once you have identified the loan product that best fits your needs, the next step is to submit the required documents to the lender. Each lender has their preferred method and type of documents, but most require the documents listed below as an example which we have detailed further down on this page:

  • Identification documents (passport or driver’s license)
  • Proof of income (payslips, tax returns, or financial statements)
  • Employment details (employer’s name and contact information)
  • Details of assets and liabilities (bank statements, credit card statements, or loan statements)

Our team of experienced loan brokers can guide you through the document submission process and ensure that you have everything in order to obtain your pre-approval.

Step Three:

Obtain Pre-Approval

Once your documents are submitted, the lender will review your application and provide a pre-approval decision. Pre-approval is an indication of the amount you can borrow based on your financial situation and other factors. It’s important to note that pre-approval is not a guarantee of final loan approval.

By following these simple steps, you can obtain your pre-approval and take the first step towards achieving your property goals.

Apply now to get pre-approved and open up a world of possibilities.

Get Pre-Approved for Your Dream Home or Investment Property Today.

Take the first step towards owning your dream home or investment property by getting pre-approved today. Don’t let financing hold you back from owning your dream home. Fast-track your homeownership goals with a pre-approval. Fill out the form below and our experienced team will provide you with a personalized solution that helps you achieve your dream of homeownership.

Preliminary Approval Documents

Here we break down in more details the preferred types of documents for an application as a First Home Buyer, Home Buyer, Consolidating Loans, Refinancing Loans and Investment Loans for and Investment purchase for a Applicant as a PAYG, Self-Employed applicant and the required documents if you wish to refinance a mortgage;

Applicant Types

First Home Buyer (FHB)

Documentations for First Home Buyer:

Note: These are required for each applicant

  • Copy of Drivers Licences & copy of Passports or Birth Certificate (these are required for the 100 points of ID’s)
  • Copy of last 2 Current pay slips (Not more than 30 days old)
  • Copy of last 3 months Bank statement to show saving pattern of the 5% genuine savings
  • Copy of current (last year’s) ATO Assessment Notice or Employers group certificate
  • The First Home Owners Grant (FHOG) application form for your own state can be found at these Useful State Grant list of Australian State Revenue Offices. You will need to take your original ID’s plus copies of these ID’s to be certified by a Solicitor or Justice Of The Peace, with the following wording;
    • “I certify that I have sighted the original documents and this is a true copy of it”.
    • This certification must be on each document (not required on each page) and
    • Have the Certifiers Name,
    • Title (position held),
    • Registration number (where applicable) and
    • Be signed and
    • Dated.
  • If using rental payments made over 6th month, a copy of Rental Management Letter from agent (For Non-Genuine 5% savings) further details on Rental Payments can be found on the link.

Documentations for First Home Buyer:

Note: These are required for each applicant

  • Copy of Drivers Licences & copy of Passports or Birth Certificate (these are required for ID’s for Directors).
  • Copy of last 2 most recent years’ Personal Income Tax returns. (the most recent being no more than 24 months old).
  • Copy of last 2 most recent years’ Business (or Company) Income Tax returns. (the most recent being no more than 24 months old).
  • Copy of last 2 years of ATO Notice of Assessment.
  • Copy of last 6 months Bank statement to show saving pattern & 5% genuine savings.
  • The First Home Owners Grant (FHOG) application form for your own state can be found at these Useful State Grant list of Australian State Revenue Offices. You will need to take your original ID’s plus copies of these ID’s to be certified by a Solicitor or Justice Of The Peace, with the following wording;
    • “I certify that I have sighted the original documents and this is a true copy of it”.
    • This certification must be on each document (not required on each page) and
    • Have the Certifiers Name,
    • Title (position held),
    • Registration number (where applicable) and
    • Be signed and
    • Dated.
  • If using rental payments made over 6th month, a copy of Rental Management Letter from agent (For Non-Genuine 5% savings) further details on Rental Payments can be found on the link.

Home Buyer

Documentations for Non First Home Buyer:

Note: These are required for each applicant

  • Copy of Drivers Licences & copy of Passports or Birth Certificate (these are required for the 100 points of ID’s).
  • Copy of last 2 Current pay slips (Not more than 30 days old).
  • Copy of current (last year’s) ATO Assessment Notice or Employers group certificate.
  • Copy of last 3 months Bank statement to show saving pattern of the 5% genuine savings, Or
  • Savings of more than 10% deposit, a copy of last month Bank statement to show Funds to Complete the next home purchase.

Documentation for Non-First Home Buyer:

Note: These are required for each applicant

  • Copy of Drivers Licences & copy of Passports or Birth Certificate (these are required for ID’s for Directors).
  • Copy of last 2 most recent years’ Personal Income Tax returns. (the most recent being no more than 24 months old).
  • Copy of last 2 most recent years’ Business (or Company) Income Tax returns. (the most recent being no more than 24 months old).
  • Copy of last 2 years ATO Notice of Assessment.
  • Copy of last 3 months Bank statement to show saving pattern of the 5% genuine savings, Or
  • Savings of more than 10% deposit, a copy of last month Bank statement to show Funds to Complete the next home purchase.

Consolidation Loans

Documentations for Consolidation Loans:

Note: These are required for each applicant

  • Copy of Drivers Licences & copy of Passports or Birth Certificate (these are required for ID’s)
  • Copy of last 2 Current pay slips (Not more than 30 days old)
  • Copy of last year’s ATO Assessment Notice or Employers group certificate.
  • Copy of current Rates Notice.
  • Rental Income: Copy of a current Tenancy Agreement or Most recent Real Estate or Rental Agent statement showing actual rent (Not more than 30 days old)
  • All loans being consolidated for refinanced, copies of statement covering six months of all home loans, car loan, personal loan.
  • For the Credit Cards being refinanced require last 3 months.

 

For all loans being refinanced these must show acceptable 6 months repayment history with no arrears, defaults, or late payments.

Please Note: All supporting documents and letters, must be dated within 30 days of the date of the signed loan application.

Documentation for Consolidation Loans:

Note: These are required for each applicant

  • Copy of Drivers Licences & copy of Passports or Birth Certificate (these are required for ID’s for Directors).
  • Copy of last 2 most recent years’ Personal Income Tax returns. (the most recent being no more than 24 months old).
  • Copy of last 2 most recent years’ Business (or Company) Income Tax returns. (the most recent being no more than 24 months old).
  • Copy of last year’s ATO Assessment Notice or Employers group certificate.
  • Copy of current Rates Notice.
  • Rental Income: Copy of a current Tenancy Agreement or Most recent Real Estate or Rental Agent statement showing actual rent (Not more than 30 days old).
  • All loans being consolidated for refinanced, copies of statement covering six months of all home loans, car loan, personal loan.
  • For the Credit Cards being refinanced require last 3 months.

 

For all loans being refinanced these must show acceptable 6 months repayment history with no arrears, defaults, or late payments.

Please Note: All supporting documents and letters, must be dated within 30 days of the date of the signed loan application.

Refinance Loans

Documentation for a Loan Refinance:

Note: These are required for each applicant

  • Copy of Drivers Licences & copy of Passports or Birth Certificate (these are required for the 100 points of ID’s).
  • Copy of last 2 Current pay slips (Not more than 30 days old).
  • Copy of current (last year’s) ATO Assessment Notice or Employers group certificate.
  • Copy of last 6 months Bank statement to show loan repayments made on time.
  • Copies of statement covering one month of any car loan, personal loan and Credit Cards to show that you have been on time & making repayments to these loans.
  • Copy of current Rates Notice.
  • Rental Income: Copy of a current Tenancy Agreement or Most recent Real Estate or Rental Agent statement showing actual rent (Not more than 30 days old) Or,
  • For an Investment Purchase, a copy of Rental Appraisal Letter from Real Estate or Rental Agent.

 

Please Note: All supporting documents and letters, must be dated within 30 days of the date of the signed loan application.

Documentation for a Loan Refinance:

Note: These are required for each applicant

  • Copy of Drivers Licences & copy of Passports or Birth Certificate (these are required for ID’s for Directors).
  • Copy of last 2 most recent years’ Personal Income Tax returns. (the most recent being no more than 24 months old).
  • Copy of last 2 most recent years’ Business (or Company) Income Tax returns. (the most recent being no more than 24 months old).
  • Copy of most recent ATO Notice of Assessment.
  • Copy of last 6 months Bank statement to show loan repayments made on time.
  • Copies of statement covering one month of any car loan, personal loan and Credit Cards to show that you have been on time & making repayments to these loans.
  • Copy of current Rates Notice. 
  • Rental Income: Copy of a current Tenancy Agreement or Most recent Real Estate or Rental Agent statement showing actual rent (Not more than 30 days old) Or, 
  • For an Investment Purchase, a copy of Rental Appraisal Letter from Real Estate or Rental Agent.

 

Please Note: All supporting documents and letters, must be dated within 30 days of the date of the signed loan application.

Investment Buyer Loans

Documentation for Investment Loans:

Note: These are required for each applicant

  • Copy of Drivers Licences & copy of Passports or Birth Certificate (these are required for the 100 points of ID’s)
  • Copy of last 2 Current pay slips (Not more than 30 days old)
  • Copy of last 3 months Bank statement to show saving pattern of the 5% genuine savings
  • Copy of current (last year’s) ATO Assessment Notice or Employers group certificate
  • Copy of last 6 months Bank statement to show loan repayments made on time.
  • Copies of statement covering one month of any car loan, personal loan and Credit Cards to show that you have been on time & making repayments to these loans.
  • Copy of current Rates Notice.
  • Rental Income: Copy of a current Tenancy Agreement or Most recent Real Estate or Rental Agent statement showing actual rent (Not more than 30 days old).Or,
  • For an Investment Purchase, a copy of Rental Appraisal Letter from Real Estate or Rental Agent.

 

Please Note: All supporting documents and letters, must be dated within 30 days of the date of the signed loan application.

 

Documentation for Investment Loans:

Note: These are required for each applicant

  • Copy of Drivers Licences & copy of Passports or Birth Certificate (these are required for ID’s for Directors).
  • Copy of last 2 most recent years’ Personal Income Tax returns. (the most recent being no more than 24 months old).
  • Copy of last 2 most recent years’ Business (or Company) Income Tax returns. (the most recent being no more than 24 months old).
  • Copy of most recent ATO Notice of Assessment.
  • Copy of last 6 months Bank statement to show loan repayments made on time.
  • Copies of statement covering one month of any car loan, personal loan and Credit Cards to show that you have been on time & making repayments to these loans.
  • Copy of current Rates Notice.
  • Rental Income: Copy of a current Tenancy Agreement or Most recent Real Estate or Rental Agent statement showing actual rent (Not more than 30 days old). Or,
  • For an Investment Purchase, a copy of Rental Appraisal Letter from Real Estate or Rental Agent.

 

Please Note: All supporting documents and letters, must be dated within 30 days of the date of the signed loan application.

 

With A Conditional Pre-Approval achieved this will provide an estimate of your borrowing power. This borrowing power will help to narrow down the searches for your right priced property or dream home that you had always wanted.