Applying For A Home Loan - What You Need To Take Along

After toiling away and arming yourself with all the relevant information you need to apply for a home loan - researching with a mortgage calculator, chatting with a mortgage broker, and finding out your borrowing capacity - it’s time to head down to your lender of choice and submit an application.

The financial implications of this decision will be felt for several years to come, so lenders strive to be as thorough as possible when taking on board and reviewing any loan applications.

Before heading in, it is advisable for you to gather the required paperwork in order to make your loan application a walk in the park.

You will be required to prove your identity. This can be done through a number of documents - passport, visa, citizenship/birth certificate or your drivers license. Married couples will be required to show their marriage certificate as well.

Lenders will also want to see statements of a savings account, evidence of regular income and other documents of good faith - to prove you will be capable of repayment in the long term. Business owners will also have to show full tax returns from the past two years.

To get more detailed information on your situation, talk to a Loan Market mortgage broker today.