In short: For a standard home loan application you need 100 points of ID, your two most recent payslips and latest ATO income statement, three months of bank statements for every account, statements for all debts, and evidence of your deposit. Self-employed applicants need two years of tax returns and financials. Having everything ready before you apply is the difference between approval in days and approval in weeks.
Every week, applications stall for the same reason: a missing statement, a payslip that is one pay cycle too old, a gift with no letter. Lenders cannot assess what they cannot see, and each follow-up request adds days while your pre-approval clock and your vendor's patience run down. This checklist is organised by applicant type and purchase type so you can build your file once and get it right.
Core documents for every applicant
Identification (100 points)
Lenders and brokers must verify your identity under anti-money-laundering rules. Typical point values:
| Document | Points (typical) |
|---|---|
| Australian passport or foreign passport with visa | 70 |
| Birth certificate or citizenship certificate | 70 |
| Australian driver licence | 40 |
| Medicare card | 25 |
| Credit or debit card in your name | 25 |
| Utility bill or rates notice with current address | 25 |
Most people use a passport plus driver licence, or licence plus Medicare plus a bank card. Documents must be current, and names must match across all of them. If you have changed your name, include the marriage certificate or change-of-name certificate.
Income
PAYG employees
- Two most recent consecutive payslips (no older than 30 to 60 days at submission)
- Most recent ATO income statement (from myGov) or PAYG payment summary
- Three months of bank statements showing salary credits matching the payslips
- Employment contract or letter if you started within the last 6 months, are on probation, or are casual with under 12 months in the role
- Evidence of overtime, bonuses, commission or allowances for the last 12 to 24 months if you want them counted (payslips with year-to-date figures usually suffice)
Self-employed and contractors
- Two years of personal tax returns and ATO notices of assessment
- Two years of business tax returns and financial statements (profit and loss, balance sheet)
- ABN and GST registration showing at least two years (some lenders accept one)
- Business bank statements, often 6 months
- Latest BAS statements for 12 months if the lender uses them
- Accountant's contact details
- For low-doc applications: accountant's declaration, BAS and business statements in place of full financials. See low doc loans explained and our self-employed loans service.
Other income
- Rental income: current lease and the latest rental statement, or a rental appraisal for a new purchase
- Centrelink payments: an income statement from myGov (family tax benefit is usually accepted; some payments are not)
- Child support: court order or registered agreement plus bank statements showing receipt
- Investment or dividend income: two years of tax returns and holding statements
- Overseas income: foreign payslips, tax returns and translation if required; policies vary widely
Assets and deposit
- Three months of statements for every savings and transaction account, showing your name, BSB and account number
- Term deposit or share portfolio statements
- Gift letter or statutory declaration from the giver if any part of the deposit is gifted, plus the transfer showing receipt
- First Home Super Saver Scheme release determination from the ATO if used
- Rental ledger from your property manager if using rental history in place of genuine savings
- Statement for any existing property you own, plus a recent rates notice
Read genuine savings explained for how lenders read these statements.
Liabilities
- Six months of statements for every existing home loan, personal loan and car loan
- Latest statements for every credit card, showing limit and balance, even if the balance is zero
- HECS-HELP or other study loan balance from myGov
- Buy-now-pay-later account statements if active
- Details of any loan you are a guarantor on
- Divorce or property settlement orders if relevant
- Evidence of child support you pay
Undisclosed debts are the most common reason a file is reassessed. Lenders read your bank statements and will see repayments to any lender, so list everything. Our guide on how to improve borrowing power explains which debts to close before applying.
Living expenses
Lenders compare your declared expenses against a benchmark and against your statements. Have a realistic monthly figure ready for groceries, transport, utilities, insurance, childcare, school fees, subscriptions and entertainment. If you have dependants, note their ages. It is far better to declare accurately than to be caught understating.
Documents by purchase type
Buying an established home
- Signed contract of sale and the Section 32 vendor statement
- Conveyancer's details
- Building and pest inspection reports if the loan is conditional on them
- Building insurance certificate before settlement
See Section 32 vendor statement.
House and land or construction
- Land contract and Section 32
- Fixed-price building contract signed by both parties
- Council-approved plans and specifications
- Builder's licence details and domestic building insurance certificate
- Soil test and site-cost breakdown
- Progress payment schedule
- Any variations signed after the contract
Details of the staged release are in construction loan progress payments.
Refinancing
- Six months of statements for the loan being refinanced
- Most recent rates notice for the property
- Council valuation or recent appraisal if you have one (the lender orders its own)
- Details of any fixed-rate break cost from the current lender
- Payout figure request authority
See our refinancing service and refinance calculator.
Investment property
- Lease and rental statement, or rental appraisal from an agent
- Evidence of any depreciation schedule for existing investments
- Land tax assessment if applicable
Documents for government schemes
First Home Guarantee
- Notice of assessment for the most recent financial year (income is no longer capped, but lenders still request it)
- Medicare card
- Declaration that you have not owned property in Australia in the last 10 years
- Evidence of citizenship or permanent residency
- Contract showing the price is within the cap ($950,000 Melbourne and Geelong)
See First Home Guarantee: 5% deposit.
First Home Owner Grant
- FHOG application form (usually lodged through the lender as approved agent)
- Proof of identity for all applicants
- Contract of sale or building contract showing the home is new and $750,000 or less
- Evidence that no applicant has previously received a grant or owned and lived in a home before 1 July 2000, or owned and lived in one since
Stamp duty exemption or concession
- Your conveyancer lodges the first-home-buyer duty forms as part of the transfer, using the same ID and contract documents
Documents for specific situations
Visa holders and new migrants
- Current visa grant notice showing visa subclass and conditions
- Passport
- Evidence of Australian employment and income
- FIRB approval if required for the property type
- Overseas credit report if available (some lenders accept)
Policies vary sharply by visa subclass; see home loans for visa holders.
Guarantor loans
- The guarantor's ID, most recent loan statement and rates notice for their property
- Certificate of independent legal advice
- Sometimes evidence of the guarantor's income or superannuation
After divorce or separation
- Property settlement orders or binding financial agreement
- Evidence of any transfer of the former home
How to prepare your file
- Download statements as PDFs from internet banking, never screenshots. Lenders need the bank's full-page format with your name and account details.
- Match dates. Bank statements, payslips and ATO statements should all cover the same recent period. If your last payslip is from three weeks ago and you are paid fortnightly, get the newer one.
- Explain anything unusual in a short note: a large deposit, a missed payment, a gap in employment.
- Sort files by category and name them clearly (for example "Anjali payslip 15 Aug 2026"). A broker can upload them straight into the lender's system.
- Use one secure channel. Your broker will give you a secure upload portal; avoid emailing scans of your passport.
- Keep copies. If the pre-approval expires and you need to renew, you will need updated versions of the time-sensitive documents (payslips, statements).
What ages out fastest
| Document | Typical maximum age at submission |
|---|---|
| Payslips | 30 to 60 days |
| Bank statements | 30 to 60 days |
| Rental appraisal | 90 days |
| Contract of sale | Must match the current purchase |
| ATO income statement | Most recent financial year |
| Tax returns (self-employed) | Most recent year must be lodged; some lenders allow 18 months after year end |
| Visa grant notice | Must be current |
Common mistakes
- Sending statements with pages missing. Lenders need every page, including blank ones, so they can see the statement is complete.
- Not declaring a zero-balance credit card. The limit still counts against your borrowing power, and hiding it looks like non-disclosure.
- Payslips from a different employer than the one on your application because you recently changed jobs. Tell your broker about job changes before you apply.
- Self-employed applicants submitting last year's returns when the lender wants the year just ended. Talk to your accountant about lodging early.
- Gift arriving after formal approval with no letter. The lender may re-assess.
- Renaming yourself across documents (nickname on a payslip, full name on the passport). Get the employer to correct the payslip.
- Screenshots of banking apps. Nearly all lenders reject them.
- Waiting until you find a property. Pre-approval documents are the same as formal approval documents; gather them first and you will move faster when it counts. See home loan pre-approval.
Frequently asked questions
How many payslips do I need for a home loan?
Two consecutive recent payslips is the standard requirement, and they should be no more than 30 to 60 days old when the application is submitted. Lenders match them against three months of bank statements showing the salary credits and your latest ATO income statement. If you are paid monthly, two payslips cover two months; if you earn overtime or bonuses, lenders may ask for payslips covering the full year to date.
How many months of bank statements do lenders look at?
Three months is standard for savings and transaction accounts, and six months for existing loan accounts. Lenders read them to verify income, check living expenses against what you declared, confirm your deposit and genuine savings, and spot any undisclosed debts, gambling or dishonoured payments. Some lenders use open banking data instead of PDFs, with your consent, which speeds things up.
What documents do self-employed people need for a home loan?
Two years of personal and business tax returns with ATO notices of assessment, two years of financial statements, an ABN and GST registration going back at least two years, and usually six months of business bank statements. Some lenders accept one year of financials or use low-doc alternatives such as BAS statements and an accountant's declaration. See our self-employed home loan guide for lender differences.
Do I need a contract of sale to apply for a home loan?
Not for a pre-approval, which is assessed on your finances alone. You do need the signed contract of sale and the Section 32 for formal approval, because the lender values the specific property and checks the contract terms. For a house-and-land package you also need the land contract, the fixed-price building contract and the approved plans before the construction component can be approved.
What is a gift letter and when is it required?
A gift letter is a signed statement from the person giving you deposit money, confirming the amount, that it is a gift and not a loan, and that no repayment is expected. Some lenders require it as a statutory declaration witnessed by a JP or solicitor. It is required whenever any part of your deposit comes from someone else, and the giver is normally expected to be a close family member.
Can I apply for a home loan without a payslip?
Yes, in several situations. Self-employed applicants use tax returns and financials. Casual workers can use bank statements and an employment letter alongside whatever payslips they have. Applicants whose income comes from rent, investments or Centrelink use statements for those sources. Low-doc products exist for business owners without up-to-date returns. The lender needs to verify income somehow, so an alternative evidence trail replaces the payslip rather than removing the requirement.
Talk to GNT Finance
Send us what you have and we'll tell you exactly what is missing for the lenders that suit you, then submit a complete file first time. Our home-loan service is at no cost to you in most cases. Book a free consultation or call 0426 403 703.
Written by Gorakh Timilsina
Founder, CEO & Senior Mortgage Consultant at GNT Finance. Gorakh started as a broker assistant, spent years as a senior credit officer assessing loan applications, and now helps Melbourne families get the right loan approved. English, Nepali and Hindi spoken.