Key takeaways
- Approval speed is driven by your paperwork — having it ready can turn weeks into days.
- Core documents: ID, income proof, deposit/savings statements, debt statements, expenses.
- Employees provide payslips; the self-employed provide financials and tax returns.
- Buyers also need the contract of sale once a property is chosen.
Nothing stalls a home loan like missing paperwork. The lenders that approve fast aren’t magic — their borrowers simply had everything ready. Use this list to get ahead before you apply, and your pre-approval can move as quickly as your decision.
Proof of identity
Passport, driver licence, Medicare card — lenders need to verify who you are, usually to a points-based standard. Have current, unexpired ID ready.
Proof of income
- Employees: your two most recent payslips, often a recent bank statement showing salary, and sometimes a group certificate or employment letter.
- Self-employed: one to two years of business and personal tax returns, notices of assessment, and recent business bank or BAS statements. See our self-employed guide and low-doc options.
Deposit and savings
Statements showing your deposit and a history of genuine savings. Gifts and first-home schemes have their own paperwork — a gift usually needs a signed letter. This ties directly to your deposit and LVR.
Debts and expenses
Statements for credit cards, personal and car loans, HECS/HELP, and buy-now-pay-later, plus an honest picture of your living expenses. Lenders check these against your income to assess serviceability.
Tidy the three months before you apply: minimise buy-now-pay-later, keep spending steady, and avoid new debts or large unexplained transactions. Lenders read recent statements closely, and a clean run makes the whole file easier to approve.
Once you’ve found a property
You’ll add the signed contract of sale and, for units, sometimes strata documents. From there the lender orders a valuation and moves toward formal approval.
Broker Insight. The fastest approvals we see aren’t luck — they’re the clients who had everything ready. A tidy, complete file is the single biggest thing that turns weeks into days.
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Book your free game plan callFrequently asked questions
What documents do I need for a home loan?
At minimum: photo ID, proof of income (recent payslips and often a group certificate, or business financials and tax returns if self-employed), statements for your deposit or savings, statements for any existing debts, and details of your living expenses. Buyers also need the contract of sale once they’ve found a property. Having these ready is the single biggest thing that speeds up approval.
How many payslips do I need?
Most lenders want your two most recent payslips, and sometimes a recent bank statement showing the salary landing or a group certificate. If you’re on probation, casual, or rely on bonus or overtime income, lenders may ask for more history. Self-employed applicants provide business financials and personal tax returns instead.
What do self-employed borrowers need?
Typically the last one to two years of business and personal tax returns, notices of assessment, and recent business bank or BAS statements. Some lenders offer low-doc options with alternative proof if full financials aren’t available. Because self-employed lending varies so much between lenders, it’s worth getting guidance before you gather everything.
This guide is general information only and does not take your personal circumstances into account. It is not financial or credit advice. Government schemes, lender policies, rates and tax rules change over time and eligibility criteria apply. Speak with us for advice tailored to your situation.